Athens Airport Welcomes New CEO

Dr. Yiannis Paraschis late last month took over from Alfred van der Meer as the new chief executive officer of Athens International Airport. The forty-seven-year-old industrial engineer joined the airport’s management team shortly after its establishment in 1996, and he was the key contributor to the development of the company from the onset.

He also played the leading role in the development of the company’s strategy and its business and commercial success over the 11 years of airport’s operation.

Separately, Athens International Airport recently posted positive financial results for 2006, for the first time according to the principles of the International Financial Reporting Standards.

With passenger traffic beating a new record of 15.1 million in 2006, up 5.6% on a year-to-year basis, and mainly boosted by the improved performance of all commercial activities, the airport posted a 7.8% increase in its operating revenues and Airport Development Fund payments, which reached a total of €357.5 million.

Οperating expenses increased at a lower rate, up 3.3%, than the corresponding revenue increase compared with 2005.

Earnings before interest, taxes, depreciation and amortization rose by 11.8% to €166.5 million, while pre-tax profit rose significantly to €96.3 million to mark an increase of 66.9%.