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Athens International Airport S.A.

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Athens International Airport S.A.
Company typeS.A.
IndustryTransport
Founded1996; 28 years ago (1996)
HeadquartersAthens International Airport, Spata, Greece
Key people
Yiannis Paraschis (CEO)[1]
ProductsAirport operations and services
OwnerPublic/Private consortium[2]
  • Greek State: (55%)
  • Canada's PSP: (40%)
  • Copelouzos Group: (5%)
Number of employees
13,000
Websitewww.aia.gr

Athens International Airport S.A. or AIA is the airport authority that owns and manages Athens International Airport.[3]

History

AIA was created in 1996 with the Greek government as a majority stakeholder (55%) and Hochtief holding 45% of the capital. AIA received a 250 million-fund from the EU to build the new Athens airport[4] Operations of the Athens International Airport started March 29, 2001. In 2004, it was declared European airport of the year.[5] The airport was built in preparation for the 2004 Summer Olympics.[6] AIA holds a 30-year concession on the Athens airport, concession that will expire in 2026.[7]

In October 2012, AIA launched the largest unified photovoltaic installation at any airport worldwide, an 8 MWp and 160,000 square meter project that cost 20 million euros and is expected to provide 20% (11 million kWh) of the airport's annual energy consumption.[8]

In March 2013, AIA reduced its airport fees (the highest in Europe then) in a move to increase traffic.[9] Ryanair publicly attacked the airport operator and its high fees, arguing that those were to be blamed for the drop of air traffic in recent years.[10]

In May 2013, Hochtief sold its 40% stakes of AIA to Canada's Public Sector Pension Investment Board (PSP Investments) for 1.1 billion euros.[5][11]

In February 2014, a Chinese consortium consisting of FPAM and the Shenzhen Airport company expressed its intention to buy the 55% shares held by the Greek government.[12][13]

In September 2014, a Greek court found that Hochtief did not pay VAT in Greece for more than 20 years, holding the German company accountable for reimbursing 500 million euros to the Greek government,[14] even though a British court ruled in favor of Hochtief in March 2013.[5][11]

In the midst of the Greek government-debt crisis, Europe has constantly advised the Greek government to privatize AIA SA, yet political resistance has led this recommendation unachieved.[15]

References

  1. ^ Ioanna Zikakou (15 October 2015). "AIA CEO Yiannis Paraschis Named Airport Chief Executive of the Year". greekreporter.com. Retrieved 2016-06-13.
  2. ^ "Shareholder structure" (PDF). Aia.org. Retrieved 2016-06-13.
  3. ^ "The Airport Company". Aia.org. Retrieved 2016-06-13.
  4. ^ "Subject: Financing for the new Athens airport". Europa.eu. Retrieved 2016-06-13.
  5. ^ a b c "HOCHTIEF sells Athens Airport stake to Canada's Public Sector Pension Fund". Keeptalkinggreece.com. 7 May 2013. Retrieved 2016-06-13.
  6. ^ "Greece aviation and tourism - Part 2: Airport privatisation prospects improve as the market grows". Centreforaviation.com. 13 August 2015. Retrieved 2016-06-13.
  7. ^ "Athens International Airport". Hradf.com. Retrieved 2016-06-13.
  8. ^ "Athens International begins operation of the world's largest airport photovoltaic installation". Greenaironline.com. 12 October 2012. Retrieved 2016-06-13.
  9. ^ George Georgakopoulos (14 March 2013). "Athens Airport lowers fees, hoping to draw more flights". Ekathimerini.com. Retrieved 2016-06-10.
  10. ^ Alexandra Kassimi (25 April 2013). "Ryanair fires shots in air battle with Athens Airport". Ekathimerini.com. Retrieved 2016-06-13.
  11. ^ a b Costas Efimeros (6 October 2014). "How much did the Hochtief-managed Athens airport dodge in taxes? €12, 150 or 600 million?". Thepressproject.gr. Retrieved 2016-06-13.
  12. ^ Abed Alloush (7 March 2014). "Chinese Consortium Interested in Purchasing Athens Int'l Airport". Greekreporter.com. Retrieved 2016-06-13.
  13. ^ Nikoleta Kalmouki (17 February 2014). "Plans to Turn Athens Airport into Transit Hub". Greekreporter.com. Retrieved 2016-06-10.
  14. ^ Sotiria Nikolouli (29 September 2014). "German Company is Top Tax Evader in Greece". Greekreporter.com. Retrieved 2016-06-13.
  15. ^ Angeliki Koutantou; Susan Fenton (29 February 2016). "Greece to start talks on extending Athens airport concession within days". Reuters.com. Retrieved 2016-06-13.
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