Market Analysis IX: Athens Airport’s Top Markets – CANADA

Athens in the Spotlight!

Welcome to GTP Headlines’ weekly feature, spotlighting the top markets of Greece’s largest and foremost gateway.
Each week, based on exclusive facts and data of Athens International Airport, we’ll explore the markets that bring travelers from around the world to Greece through this bustling hub.

This week, we return to North America, focusing on the Canadian market for the significant role it plays in shaping the international traffic at Athens International Airport (AIA).

The importance of the available direct capacity between Canada and Athens is underlined, by the growing size of the Canadian market and significant volumes of transfer traffic from US to Athens. 

The Canadian market ranked 8th in terms of foreign arrivals and 15th in direct traffic in 2023.

Direct traffic for the first 7 months of 2024 is recording substantial growth when compared to same period in 2023 at 12% and by 6% in terms of foreign arrivals (Tourism).

When compared to the pre-pandemic era (2019) during the period January to July, the growth of traffic from Canada is even more spectacular, with 48% in direct traffic and 51% in foreign arrivals. 

This strong growth in traffic is driven by the deployment of larger aircraft types, resulting in the increase of available capacity and connecting traffic via Canada to Athens. Connecting traffic increased by 45% in 2023 when compared to the pre-pandemic era (2019).

The additional direct capacity deployed at Athens on the Canadian network increased by 51% in the first 7 months of 2024, when compared to the same period pre-pandemic (2019). Compared to 2023, direct capacity for the first 7 months of 2024 increased by 17%.

Network Developments: 25 weekly departures in 2024

For 2024, Athens is directly connected to 2 airport destinations with flights operated by 2 airlines – Air Canada and Air Transat – resulting in 25 weekly departures, returning to pre-pandemic number of weekly frequencies at Athens.

Current Status – 2024

The network to Canada in peak summer

While the Canadian network remained unchanged in terms of destinations and operating airlines compared to 2019, some significant developments are noted:

– The season of operations was gradually extended towards the end of the season, moving from mid-November in 2019 to almost the end of November for 2023.
– In 2021, Air Canada upgraded the aircraft type operating the route, from the B767-300 with 281 capacity to the B777-300 and 389 capacity.
– In 2024, a number of the Air Canada flights are upgraded to the new B787 Dreamliner, enhancing the product offering on both Montreal and Toronto.

Passenger traffic evolution

Compared to pre-pandemic (2019), direct passenger traffic grew by 30% in 2023 and is increasing further in 2024.

For the period January to July 2024, traffic is increasing by 12% when compared to the same period in 2023.

For the month of July, direct passenger traffic increased from just over 60 thousand round-trip passengers in 2019 to 80 thousand in 2024.

Traffic is evenly split between Toronto and Montreal, with Toronto having marginally the lead at 52% to 53% of the traffic share. 

Based on global travel data (IATA) for 2023, passenger traffic with 1 stop (connecting via other HUBs to reach Athens) reached 65 thousand one-way passengers. What is interesting is the fact that volume of 1-stop traffic between Canada and Athens is increasing as the total size of the market is increasing as well. Connecting traffic in 2023, accounted at almost 40% of the total traffic.

Again, based on global travel data (IATA) for 2023, a significant number of 88 thousand one-way passengers connected via Canada to reach Athens. 60% of the traffic however is originating from the United States, with key West Coast origins (Los Angeles and San Francisco) ranking at the TOP 3 positions. Even more interesting is the fact that the connections via Canada to Athens increased by 45% in 2023 when compared to 2019.

Above elements of traffic, combined with the extremely high Load Factors (90% in 2019 and 92% in 2023) achieved by the Canadian airlines, clearly indicate the lack of additional direct capacity and the need for a year-round direct operation.

The connections from Canada via Athens to the region have reduced by 45% in 2023, based on global travel data (IATA), when compared to the pre-pandemic era. Obviously, intra Greece destinations are at the TOP of the list accounting for 70% of the via Athens connections. However, in absolute numbers this volume of traffic is quite low for a market at the size of Canada, at approximately 5 thousand connections in 2023.

Passenger demographics:
The Canadian traveler for Athens

Canadians are considering Athens as “an easy gate to Europe”.

Main characteristics

Occupation: 69% in the private sector.
Length of stay: 15 days in Greece with 3 days in Athens.
Trip purpose: Holidays 83%.
Stay: 47% stay in hotels and resorts near the sea, they also have a significant 33% share for city break.
Activities: City bus tour is the most preferred activity, followed by that Argo Saronic cruise.
Favorite destinations: Santorini (25%), Crete (18%), Mykonos (14%).

Evaluation of Athens: 80% said that the city experience was above their expectations.
Revisit Athens: 83% stated that they will revisit during 2024.

Future opportunities

(a) Year-round direct operations to accommodate the existing demand between the two countries on a year-round basis.
(b) Additional capacity, to allow for more direct seats to be available at the local Canadian market, while, at the same time, accommodating the strong connecting traffic from USA via Canada to Athens.
(c) Addition of Vancouver to the Athens network with a direct service, as the 2nd strongest origin in Canada of Indirect traffic to Athens.

View also:

Market Analysis I: Athens Airport’s Top Markets – UNITED STATES

Market Analysis II: Athens Airport’s Top Markets – UNITED KINGDOM

Market Analysis III: Athens Airport’s Top Markets – GERMANY

Market Analysis IV: Athens Airport’s Top Markets – FRANCE

Market Analysis V: Athens Airport’s Top Markets – ITALY

Market Analysis VI: Athens Airport’s Top Markets – CHINA

Market Analysis VII: Athens Airport’s Top Markets – POLAND

Market Analysis VIII: Athens Airport’s Top Markets – UNITED ARAB EMIRATES