Athens Airport Expects 30m Arrivals in 2024, Revises Revenue Forecast Upward

Athens International Airport (AIA) CEO Yiannis Paraschis

Athens International Airport (AIA) CEO Yiannis Paraschis said he expects the airport to handle some 30 million passengers this year revising initial revenue forecasts upward following the release of first quarter (Q1) data.

In the January-March period, AIA welcomed 5.2 million arrivals marking a 16.5 percent increase over Q1 2023 with quarterly international arrivals up by 19.4 percent and domestic figures up by 10.3 percent. Flight numbers also rose by 12.8 percent in Q1.

On the back of positive Q1 performance and following AIA’s historic stock market listing earlier this year, the company expects high operating profitability margins with an adjusted EBITDA of over 60 percent in 2024.

Among others, addressing this week the first regular AIA general meeting after the airport’s listing, Paraschis said plans include reaching out to high consumer profile markets such as the US, Canada, China, and India, maintaining a competitive pricing policy, achieving maximum results from aviation activities, and increasing revenues from non-aviation activities which include increasing commercial spaces by more than 60 percent and constructing a new multi-floor car park.

Additionally, referring to last year’s 28.2 million arrivals, he said 15 percent traveled for business and 85 percent for leisure while 82 percent came via connecting flights. Connectivity levels, he said, had returned to pre-pandemic 2019 levels. Meanwhile, commercial activities at AIA generated 134.8 million euros in 2023, up by 23.2 percent.

“This is why we are investing in the development of medium and long-haul destinations,” said Paraschis, adding that in this direction national carrier AEGEAN had announced investments in larger aircraft which facilitate longer flights enabling expansion plans to Asia, Central Africa, and the Persian Gulf.