Aviation Crisis to Hit “Eleftherios Venizelos”

The crisis within the aviation market, which has already reached alarming proportions in the USA, is slowly beginning to have an impact on Greece, say representatives from Athens International Airport “Eleftherios Venizelos.”

Some airlines in Greece already have begun to impose a fuel surcharge due to high fuel prices. And Greece’s international airport may plan to redefine its operational plan for 2009 since Olympic Airways has announced new reductions and suspensions of routes to destinations that would cause financial losses.

According to reports, mergers, partnerships and even bankruptcies in the airline market are somewhat inevitable, and as a representative of the Greek airport pointed out “a significant reduction in demand has been recorded already, especially within trans-Atlantic flights.”

According to estimates of airport representatives, the crisis is expected to hit “Eleftherios Venizelos” in 2009, as the airport is expected to produce results below original expectations in terms of earnings and aircraft schedules. Over the first five months of this year the airport produced a minor increase in passenger traffic. Passenger traffic in May reached 5.96 million travelers against 5.84 million for the similar period of 2006.

In 2007 the Greek airport increased its network with 10 new destinations and 15 news airlines (Aer Lingus, Air Baltic, Air China, Carpatair, Centralwings, Clickair, Continenatal Airlines, Finnair, Ilyich-Avia, KDavia, Kras Air, MyAir, Saudi Arabian Airlines, US Airways and Vueling). According to experts, similar results are not expected for this year or 2009.