reports
- Marios Bourazanis
- Stamatios Draziotis CFA
ATHENS INTERNATIONAL AIRPORT (AIA) | Fresh impetus to the thesis but r...
Higher 2024 return, accelerated expansion plan… – AIA’s FY’24 results eclipsed estimates mainly driven by the faster depletion of the carry-forward balance (which is non-recurring in nature) and better-than envisaged unit commercial revenues. The key development though was the announcement for the acceleration of the expansion plan (merger of the 33-40MAP capex phases with an accelerated pax target timeline) partly funded by a scrip dividend (€240m over 4 years). The latter will have 3 key conse...
- Marios Bourazanis
- Stamatios Draziotis CFA
ATHENS INTERNATIONAL AIRPORT (AIA) | Fresh impetus to the thesis but r...
Higher 2024 return, accelerated expansion plan… – AIA’s FY’24 results eclipsed estimates mainly driven by the faster depletion of the carry-forward balance (which is non-recurring in nature) and better-than envisaged unit commercial revenues. The key development though was the announcement for the acceleration of the expansion plan (merger of the 33-40MAP capex phases with an accelerated pax target timeline) partly funded by a scrip dividend (€240m over 4 years). The latter will have 3 key conse...
- Stamatios Draziotis CFA
AIA (Athens International Airport) | Low-risk but limited near-term li...
Prime asset, flexible model, and benign regulation – Athens International Airport S.A. (AIA) operates Greece's largest airport (>31m pax, >155 destinations) holding an exclusive concession until 2046. AIA serves as the primary gateway to the Greek islands and the main hub for international flights, thus facing relatively limited competition from regional airports. Regulation is quite benign and far less complex than in most other EU airport cases, being predicated on a dual-till system. The latt...
- Stamatios Draziotis CFA
AIA (Athens International Airport) | Low-risk but limited near-term li...
Prime asset, flexible model, and benign regulation – Athens International Airport S.A. (AIA) operates Greece's largest airport (>31m pax, >155 destinations) holding an exclusive concession until 2046. AIA serves as the primary gateway to the Greek islands and the main hub for international flights, thus facing relatively limited competition from regional airports. Regulation is quite benign and far less complex than in most other EU airport cases, being predicated on a dual-till system. The latt...
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