Athens International Airport SA announced total revenues and other income increased by 15.3 million euros, or 15.3%, to 114.6 million euros in the first quarter of 2024 from 99.4 million euros in the first quarter of 2023, with all revenue streams demonstrating substantial improvement.
More specifically, revenues and other income from air activities reached 86.3 million euros, marking an increase of 14.8% compared with the previous year. The main contributor of this growth derives from the performance of revenues from Aeronautical charges and ADF income, while the level of aeronautical charges remained stable in the first quarter. Moreover, revenues and other income from Non-Air Activities stood at 28.4 million euros, higher by 16.9% compared to the first quarter of 2023 mainly driven by retail concession activities and car parking services.
During the period January-March 2024, which is the lowest quarter of the year in terms of traffic, the airport’s passenger numbers totaled 5.2 million, above the 2023 levels by 16.5%. The strong growth trend observed in the last quarter of 2023, continued during the first quarter of 2024, with passenger traffic demonstrating high volumes, reflecting the resilience of air travel demand (especially of leisure traffic) despite macroeconomic and geopolitical challenges, with consumers giving priority to travel over other forms of discretionary spending.
In more detail, domestic and international passengers surpassed the 2023 levels by 10.3% and 19.4%, respectively. As per the traffic evolution in each month, passengers witnessed a double-digit increase in all three months.
Profitability
Profit before Tax for the period January to March 2024 amounted to 37.0 million euros, better than prior year by 8.5 million euros. Profit after Tax for the first quarter of 2024 reached 28.5 million euros, i.e. 6.5 million euros higher than prior year.
