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Transcription

1 exo 4/6/06 10:04 AM ÂÏ 2

2 exo 4/6/06 10:04 AM ÂÏ 6 CONTENTS PAGE FOREWORD 1 MARKET OVERVIEW KEY DEVELOPMENTS PASSENGER TRAFFIC 10 AIRCRAFT MOVEMENTS 18 CARGO UPLIFT 28 NETWORK 34 PUNCTUALITY 40 SERVICE PERFORMANCE 46 PASSENGER PROFILE 50 TOURISM DEVELOPMENT 56 THE GREEK AVIATION MARKET 60 THE EUROPEAN AND GLOBAL AVIATION INDUSTRY 64 DEFINITIONS & NOTES 68 SERVICE PERFORMANCE Service Performance relates to: Capturing the passengers' / visitors' perception regarding the level of services offered (passenger comment management process); Measuring actual performance on critical areas (service performance indicators) Service Performance indicators reflect on those areas of service and facilities that affect the perception of a passenger for the level of the service offered within the airport premises. Thus, for a number of services offered to passengers either by the Airport Company or by 3rd party Airport users (airlines/handlers), quantifiable indicators have been established and are being monitored, in line with the Corporate Quality programme of AIA.These indicators enable us to accurately monitor the level of service provided while supporting benchmarking and performance enhancement activities. Efficient measurement of AIA and non-aia passenger-oriented services is achieved through effective cross-departmental cooperation. Check-in, Ticketing and Security Queues Measurement of queuing time refers to the time elapsing from the moment a passenger stands in line until they reach the service point. Measurements are taken 7 days a week between 06:00 and 22:00 hours. Baggage Reclaim The measurement of the time between aircraft onblocks until first-bag delivery (Obl-Fb) and between first-bag delivery until last-bag delivery (Fb-Lb) is a standard method among international airports for assessing baggage reclaim performance and approximates the level of service provided. Info Desk Although the info desk queries indicator is not a direct measure of service performance, it shows the effect of passenger traffic on the information counters. Call Centre Call centre statistics are being produced by the reporting function of the switchboard system.the data are taken in 10-second increments, and a 2- minute threshold is being used to assess the trend of service performance. Passenger Complaints Refers to complaints related to each of the articles of the ACI-Europe Airport Voluntary Commitment expressed as a % of all the complaint items received. Athens International Airport, in compliance with article 10 of the ACI-Europe Airport Voluntary Commitment, has established an integrated Passenger Complaint Management system. Airport Services Questionnaire - Rating AIA's passenger comments brochure titled Your opinion counts features a questionnaire section for the evaluation of Airport Services.This section includes 18 general service categories, which the passengers rate on a 1 to 5 scale (5 being excellent). In ,575 passengers in total answered this questionnaire.

3 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 1 On 28th March 2006, Athens International Airport (AIA) completed 5 years of flawless operation and strong development. In the course of these first 5 years,aia had to face major challenges, such as the airport relocation and opening, the 11th September events, the Olympic Games. Under these unique circumstances, the Airport achieved operational, service and business excellence, which were highly acclaimed through a number of prestigious distinctions. The Airport's successful performance during its first 5 years was crowned by the robust development of the year 2005, when new traffic records were set, incoming tourism boomed and the international recognition was unprecedented. The airlines operating out of Athens Airport enjoyed considerable growth in 2005 and achieved record-breaking load factors. Athens International Airport for a second consecutive year awarded the airlines that achieved the highest passenger traffic growth/volumes to specific market segments, in recognition of their contribution to the Airport's overall growth in the year under review. Within the context of the Airport's 5th anniversary, Aerostat 2005, the fourth edition of AIA's annual traffic report, begins with an overview of the Airport's traffic development for the years , followed by a comprehensive picture of the Airport's traffic evolution during 2005, presenting key market trends and characteristics. In addition to the standard traffic results, the report also presents the performance of services offered to air travellers, the demographic profile and travelling behaviour of AIA passengers, as well as the development of incoming and outgoing tourism passing through Athens International Airport.To complete the picture, and aiming to review the Athens Airport development within the frame of the Greek and the global aviation industry, the major market trends in Greece and worldwide are also presented. We hope that this publication serves as a valuable information tool for you, and we look forward to offering you important and up-to-date information on the Athens air travel market. George Karamanos Director, Communications & Marketing 1

4 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 2 market overview The operation of Athens International Airport Eleftherios Venizelos during the years 2001 through 2005 has been marked with major events and a favourable market development. In 2001,Athens Airport had to face two challenges: the airport relocation and opening (28th March) and the 11th September crisis. Even with these difficult circumstances,aia managed to operate smoothly and efficiently, and by the end of the year (starting April) had welcomed a total of 10.3 million passengers, 140 thousand flights and 83 thousand tons of cargo was a year of global instability, with passengers trying to regain their confidence in air travel and airlines facing difficult financial conditions.within this challenging market environment,athens Airport, having just concluded its second year of operation, achieved international recognition, not only in the fields of operation and services, but also for its Marketing Strategy. In its first full calendar year of operation,aia serviced 12.2 million passengers and 160 thousand flights, while uplifting 107 thousand tons of freight & mail. 2003, despite the unstable industry conditions (international recession, war in Iraq, SARS), was a year of positive traffic development (12.3 million passengers, 170 thousand flights and 110 thousand tons of cargo). AIA's contribution and support to its airline partners was recognised with the IATA Eagle Award 2003 honorary distinction was marked by the unique challenge of the Athens 2004 Olympic Games.The phenomenal traffic rebound all over the world, boosted by the positive effect of the Olympic Games and AIA's aeronautical development strategy, resulted in record-breaking traffic figures for Athens International Airport, with 13.7 million passengers, 191 thousand flights and 119 thousand tons of cargo.the Airport's operational excellence demonstrated during the particularly demanding period of the Olympic & Paralympic Games was highly acknowledged, with Athens International Airport receiving special distinctions in 2005 (Aerospace Industry Award 2005,ACI Best Airport Award 2005) was not just a year of praise for the 2004 achievements. It was a year when the favourable impact of the Olympic Games was capitalised, with the Airport breaking the 2004 record traffic levels.the 2005 annual passenger traffic amounted to 14.3 million, accommodated via a total of 181 thousand flights, while the transported airfreight amounted to 116 thousand tons.athens International Airport's sustained excellence was highly acclaimed in the course of 2005 through a number of prestigious distinctions, the most pronounced being the OAG Airport Marketing 2005 in the category of million passengers, for the Company's airline support programme and contribution in route development. Focusing on the Airport's passenger traffic development, the years 2003 through 2005 were marked by a sharp rise, in both the domestic and international sectors. Domestic passengers presented a healthy growth in 2003 (+5%), followed by an outstanding upsurge in 2004 (+17%) and a slow rise in 2005 (+1%).The international market growth has been remarkable in the last three years. In 2003, international passengers surpassed the 2002 levels (+2.6%) despite the industry's excess volatility, a development mainly triggered by the robust development of European traffic.the years 2004 and 2005 achieved strong growth (+8% and +7% respectively), with all regions demonstrating a remarkable upturn in both years, with the exception of the Asia Pacific rim. It is worth noting that the areas with the highest growth levels were the Middle East and Eastern Europe, a result signifying the successful implementation of AIA's aeronautical regional strategy. All the above reaffirm that Athens International Airport holds a 5-year track record of successful operation and strong growth. Our aim and commitment for the next years is to continue investing towards the Airport's long-term operational and business excellence, guaranteeing a high level of services for all our users and the entire airport community. 3

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6 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 6 key developments HIGHLIGHTS 2005 Traffic Levels Growth vs Million Passengers +4.5% 181 Thousand Aircraft Movements - 5.3% 116 Thousand Tons of Cargo - 2.6% 2005 was yet another year of growth for Athens International Airport (AIA), with passenger traffic reaching 14.3 million, surpassing the 2004 "Olympic record" by 4.5%.The number of aircraft movements amounted to 181 thousand, presenting a decrease of -5.3% compared to 2004, mainly attributed to the domestic capacity reduction and the exceptionally high number of flights during the 2004 Olympic Games period. Uplifted cargo also experienced a small decline (-2.6%) in the course of 2005, with the considerable drop in the domestic market being the key driver of this adverse development (-10.2%). International cargo although slightly below the 2004 levels (-1.0%), considering the 2004 Olympic Games effect, saw a robust development, mostly reflected in the strong growth of the last quarter of In terms of passenger traffic, the domestic market managed to retain and slightly increase the high 2004 levels, amounting to 5.17 million passengers (+1.2%). The international sector was the key driver of the overall growth, outperforming 2004 by 6.5%, and exceeding 9 million passengers, yet another record for the Airport.The significant increase in international traffic is attributed to the healthy rise of scheduled traffic (+6.3%), in combination with the remarkable growth of charter traffic (+19.9%). On a monthly basis, passenger traffic development for the January-September period was positive overall, with only April presenting a marginal decrease compared to 2004, mainly due to the moving Easter holidays (both Western and Orthodox).The international sector was slightly below the 2004 levels for August (month of the Olympic Games). Between October and December the positive trend in passenger traffic has been reversed and the Airport witnessed a reduced number of passengers compared to 2004, mainly owing to the significant capacity drop during the winter season, and the vulnerable situation of Olympic Airlines. Focusing on the traffic development per geographical region, the Middle East was the fastest growing region in 2005, posting an impressive upturn of 25.5%. Europe enjoyed healthy growth (+6.2%), with the 2004 EU entrants still affecting the growth levels in the EU and the rest of Europe.As regards long-haul regions, the North American market posted a significant increase at the level of 9%, while the Rest of Asia was the only region that presented a decrease (-18.0%). The steep growth of the Airport's regional traffic (to/from the Middle East, Eastern Europe, the Balkans), together with the sharp rise in the number of passengers travelling by low-cost carriers (+9%) in the course of 2005, are proof that AIA's airline development policy (focusing on the expansion of the Airport's passenger base, especially from the aforementioned segments) is bearing fruit. The considerable rise of passenger traffic during the year 2005 was also driven by the significant increase of incoming tourism. In the course of 2005, a total of 1.6 million foreign tourists arrived at Athens Αirport, 220,000 more than in 2004 (+16%), reflecting the favourable impact of the positive publicity of Athens and Greece relating to the Olympic Games. 7

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8 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 10 passenger traffic In the course of 2005,Athens International Airport's traffic reached 14,281,020 passengers, surpassing by more than 600,000 the corresponding 2004 levels (+4.5%), and setting new records for the Airport. Domestic terminal passengers amounted to 5,142,719, presenting an increase of 1%, while international terminal passengers were 9,064,344, almost 7% above 2004.Transit passengers represented less than 1% of the Airport's total traffic, amounting to 73,957. The strong growth of the international market resulted in a market share increase in the Airport's total traffic, reaching 63.8% (compared to 62.5% in 2004).Within the international sector, Europe is steadily the most important market for Athens International Airport, representing 86%, while the Middle East was the fastest growing region of the year, achieving a considerable market share increase, and reaching 5% of the total international passenger traffic. Scheduled passengers account for the vast majority of the Athens Airport's traffic (96%), with charter traffic, although increased significantly in 2005, representing only 3.5% of the total passenger traffic, consistent with the charter market's declining presence at airports worldwide. Germany is the top international scheduled market for Athens Airport, followed by Italy, which enjoyed a significant rise of 10% and climbed to the second position, surpassing UK, which suffered a small decline of -3.7%, mainly due to the Hellas Jet's cease of operations. Among the top 10 international scheduled markets, Switzerland enjoyed the highest growth (+24.3%), with both Olympic Airlines and Swiss achieving increased passenger volumes, and climbed up 2 places, acquiring the 7th position, overtaking Belgium and USA. Focusing on international charter traffic, France remains the top market, presenting an outstanding rise of almost 40%, followed by Spain and Canada, the latter boosted by the charter operations of Air Transat.Turkey and Belgium also enjoyed remarkable charter passenger growth, making it to the top 10, with the 7th and 10th position respectively. As per European versus intercontinental destinations, non-european routes grew by 9.2%, performing better on average than the European destinations, which presented an overall increase of 5.8%.The top 3 places in the European ranking are held by London, Larnaca and Paris. London and Brussels were the only top destinations that witnessed decreased passenger numbers in 2005 (-4.2% and -3.6% respectively), mainly attributed to Hellas Jet's cease of operation. Istanbul enjoyed a significant increase of 31.9% due to the increased flights of Turkish Airlines and Olympic Airlines, while the Italian airports of Rome and Milan also enjoyed double-digit growth, owing to the successful operation of all carriers operating on these routes. With respect to the non-european scheduled destinations, New York steadily holds the first position, followed by Cairo and Tel Aviv. Dubai and Bahrain, benefiting from Emirates' and Gulf Air's successful performance, enjoyed the highest growth rates amongst the top 10, almost reaching 50%, with Dubai gaining the 4th (from 5th) and Bahrain entering the top 5 (from 9th place). The major domestic destinations had an overall positive development in the course of 2005, with only Heraklion among the top 5 presenting a minor decrease. Smaller destinations presented diverse traffic development, while Thira/Santorini was the fastest growing destination among the top 10 (+11.4%), climbing to the 6th position, having outperformed Alexandroupolis, Kerkyra/Corfu and Kos. The rise of passenger traffic during 2005 was marked by the highest since airport opening load factors for Athens International Airport, reaching an average score of 68.8%, 66.3% for domestic (+5.3 points) and 70.5% for international (+7 points) traffic.the successful performance of the major airlines operating at Athens Airport in the course of 2005 is also reflected in the fact that load factors exceeded 70% for more than 15 airlines. Major European airlines increased their share in the Athens passenger market in Our home carriers, Olympic Airlines and Aegean Airlines, continue to hold the first 2 places in the airline ranking, followed by Lufthansa,Alitalia, Cyprus Airways and British Airways. Swiss re-entered the top 10, gaining the 9th place, while Air France gained the 7th position from easyjet.the 13 low-cost carriers operating at Athens Airport during 2005, carried 9.1% of the international scheduled traffic (as opposed to 8.8% in 2004), continuing to grow faster than the legacy carriers. In recognition of the airlines' contribution in the Airport's overall record growth,athens International Airport acknowledged, for a second year in a row, the airlines that recorded the highest passenger development in the year 2005.The AIA airline award winners for 2005 were:turkish Airlines, Czech Airlines, Emirates, Olympic Airlines,Aegean Airlines, LOT-Polish Airlines, Gulf Air and Swiss. The busiest day of 2005 in terms of total passenger traffic was Saturday, 30 July, with 60,130 passengers, coinciding with the international peak, while the busiest day for domestic traffic was Friday, 12 August, due to the increased domestic travelling in view of the national holiday of Monday, 15 August. 11

9 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 12 Monthly Passenger Distribution: Arrivals/Departures Arriving Passengers Departing Passengers Transit Passengers Total Passengers Month 2005 % 2005/ % 2005/ % 2005/ % 2005/2004 Jan 454, % 442, % 5, % 902, % Feb 397, % 388, % 4, % 790, % Mar 538, % 507, % 4, % 1,051, % Apr 566, % 591, % 5, % 1,163, % May 687, % 627, % 6, % 1,322, % Jun 690, % 662, % 5, % 1,358, % Jul 804, % 782, % 8, % 1,596, % Aug 786, % 811, % 12, % 1,610, % Sep 702, % 713, % 6, % 1,423, % Oct 593, % 639, % 4, % 1,237, % Nov 435, % 453, % 5, % 894, % Dec 463, % 464, % 3, % 930, % Year Total 7,121, % 7,085, % 73, % 14,281, % Monthly Terminal Passenger Distribution: Scheduled/Non-Scheduled Commercial Scheduled Non-Scheduled Other Commercial Non-Commercial Month 2005 % 2005/ % 2005/ % 2005/ % 2005/2004 Jan 880, % 16, % % Feb 773, % 12, % % Mar 1,031, % 13, % % % Apr 1,122, % 34, % % % May 1,256, % 57, % % % Jun 1,282, % 68, % % 1, % Jul 1,499, % 86, % 2 1, % Aug 1,503, % 92, % % 1, % Sep 1,347, % 68, % % 1, % Oct 1,189, % 42, % % % Nov 882, % 6, % % Dec 902, % 23, % % % Year Total 13,672, % 521, % 1, % 10, % Monthly Terminal Passenger Distribution: Domestic/International Domestic Passengers International Passengers Total Terminal Passengers Month 2005 % 2005/ % 2005/ % 2005/2004 Jan 335, % 562, % 897, % Feb 312, % 473, % 785, % Mar 393, % 653, % 1,046, % Apr 414, % 743, % 1,158, % May 471, % 843, % 1,315, % Jun 479, % 872, % 1,352, % Jul 561, % 1,026, % 1,587, % Aug 569, % 1,028, % 1,598, % Sep 479, % 937, % 1,416, % Oct 423, % 809, % 1,232, % Nov 350, % 538, % 889, % Dec 352, % 573, % 926, % Year Total 5,142, % 9,064, % 14,207, % Monthly Terminal Passenger Distribution: Intra-/Extra-Schengen Intra-Schengen Extra-Schengen Total Terminal Passengers Month 2005 % 2005/ % 2005/ % 2005/2004 Jan 601, % 295, % 897, % Feb 544, % 241, % 785, % Mar 714, % 332, % 1,046, % Apr 799, % 359, % 1,158, % May 922, % 393, % 1,315, % Jun 941, % 410, % 1,352, % Jul 1,100, % 487, % 1,587, % Aug 1,090, % 507, % 1,598, % Sep 980, % 435, % 1,416, % Oct 845, % 387, % 1,232, % Nov 615, % 273, % 889, % Dec 622, % 304, % 926, % Year Total 9,778, % 4,428, % 14,207, % 12 13

10 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 14 Top 10 International Scheduled Markets/Countries Scheduled Market Share % 2005/ Ranking Country Passengers Germany 1,379, % 1.1% 2 Italy 1,070, % 10.0% 3 United Kingdom 1,010, % -3.7% 4 Cyprus 794, % 5.8% 5 France 603, % -0.9% 6 Netherlands 318, % 0.3% 7 Switzerland 301, % 24.3% 8 Belgium 278, % -3.6% 9 USA 260, % 5.4% 10 Spain 257, % 13.0% Other 2,276, % 15.1% Total International Scheduled 8,549, % 6.3% Top 10 International Charter Markets/Countries Scheduled Market Share Ranking Country Passengers % 2005/ France 233, % 39.3% 2 Spain 60, % 107.9% 3 Canada 33, % % 4 Czech Republic 23, % -7.8% 5 Italy 20, % 67.9% 6 Sweden 19, % 6.4% 7 Turkey 16, % 219.7% 8 Austria 11, % -1.0% 9 United Kingdom 8, % -81.0% 10 Belgium 8, % 131.6% Other 64, % -33.5% Total International Charter 500, % 19.9% Top 10 European International Scheduled Destinations Scheduled Market Share Ranking City Passengers % 2005/ London 956, % -4.2% 2 Larnaca 786, % 6.6% 3 Paris 602, % 0.3% 4 Frankfurt 553, % 6.7% 5 Rome 537, % 11.0% 6 Milan 499, % 12.6% 7 Munich 407, % 2.1% 8 Amsterdam 318, % 0.3% 9 Brussels 278, % -3.6% 10 Istanbul 244, % 31.9% Other 2,163, % 9.8% Total European International Scheduled 7,349, % 5.8% Top 10 Non-European International Scheduled Destinations Scheduled Market Share % 2005/ Ranking Country Passengers New York 260, % 5.8% 2 Cairo 160, % 4.7% 3 Tel Aviv 114, % 18.3% 4 Dubai 103, % 44.9% 5 Bahrain 85, % 49.2% 6 Johannesburg 65, % 8.7% 7 Bangkok 64, % -13.7% 8 Toronto 61, % -12.3% 9 Singapore 59, % -9.5% 10 Beirut 58, % 3.7% Other 165, % 12.7% Total non-european International Scheduled 1,200, % 9.2% Ranking of International Destinations According to Passenger Traffic Scheduled & Charter Market Share % 2005/ Ranking Country Passengers Germany 1,385, % 1.0% 2 Italy 1,090, % 10.7% 3 United Kingdom 1,018, % -6.9% 4 France 837, % 7.8% 5 Cyprus 797, % 5.5% 6 Netherlands 325, % 1.2% 7 Spain 317, % 23.7% 8 Switzerland 302, % 24.8% 9 Belgium 286, % -1.9% 10 USA 264, % 2.6% 11 Turkey 261, % 37.0% 12 Egypt 191, % 5.5% 13 Denmark 149, % 11.8% 14 Austria 149, % 15.3% 15 Canada 122, % 25.1% 16 Romania 121, % 10.1% 17 Israel 114, % 17.5% 18 Czech Republic 114, % 24.9% 19 United Arab Emirates 104, % 43.5% 20 Hungary 92, % 27.7% 21 Russian Federation 89, % -3.9% 22 Bulgaria 88, % 19.2% 23 Bahrain 85, % 49.2% 24 Poland 71, % 21.5% 25 S Africa 65, % 8.1% 26 Thailand 64, % -13.9% 27 Albania 61, % 9.1% 28 Singapore 59, % -9.5% 29 Lebanon 58, % 2.9% 30 Ukraine 49, % 16.6% 31 Serbia & Montenegro 41, % 15.9% 32 Sweden 40, % -16.4% 33 Qatar 25, % NEW 34 Tunisia 18, % -0.4% 35 Jordan 18, % 21.4% 36 Norway 17, % 158.8% 37 Syria 17, % 52.5% 38 Malta 17, % -1.2% 39 Uzbekistan 15, % -10.9% 40 Kuwait 14, % 8.0% 41 Finland 13, % 8.6% 42 Moldova 12, % 25.5% 43 Luxembourg 11, % -25.6% 44 Georgia 9, % -15.6% 45 Slovakia 8, % 766.8% 46 Armenia 8, % 60.6% 47 Republic of Ireland 6, % % 48 Portugal 4, % -78.4% 49 Estonia 3, % 50 Saudi Arabia 1, % 51 Croatia % -60.3% 52 Slovenia % -54.3% 53 Morocco % 54 Lithuania % -59.8% 55 Iraq % 56 Iceland % 57 Bosnia and Herzegovina % Total 9,050, % 6.9% 14 15

11 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 16 Ranking of Domestic Destinations According to Passenger Traffic Scheduled & Charter Market Share Ranking City Passengers % 2005/ Thessaloniki 1,042, % 1.4% 2 Heraklion 763, % -1.0% 3 Rhodes 550, % 2.7% 4 Chania 376, % 5.3% 5 Mitilini 270, % 1.3% 6 Thira/Santorini 252, % 11.4% 7 Alexandroupolis 249, % -4.3% 8 Kerkyra/Corfu 247, % -4.4% 9 Kos 246, % 2.8% 10 Chios 187, % -1.6% 11 Mikonos 169, % 5.8% 12 Kavala 137, % 10.0% 13 Samos 137, % -4.0% 14 Ioannina 119, % -6.2% 15 Limnos 77, % -10.1% 16 Kefallonia 42, % 11.0% 17 Paros 33, % 4.9% 18 Zakinthos 26, % -0.2% 19 Naxos 24, % 9.1% 20 Kithira 22, % 3.1% 21 Karpathos 20, % 4.4% 22 Ikaria 20, % 3.6% 23 Leros 19, % -2.8% 24 Milos 19, % -8.6% 25 Aktio 17, % -14.0% 26 Skiathos 15, % -8.9% 27 Syros 10, % -11.9% 28 Astypalea 10, % 4.1% 29 Kozani 7, % 2.7% 30 Sitia 4, % 57.0% 31 Skiros 3, % 9.1% 32 Kastoria 2, % -14.5% 33 Kasos % 35.5% Grand Total 5,131, % 1.0% Peak and Average Daily Passenger Traffic Ranking Day Date Terminal Passengers 1 Saturday 30/07/ ,130 2 Saturday 13/08/ ,674 3 Saturday 06/08/ ,585 4 Saturday 20/08/ , Busiest Days 5 Monday 01/08/ ,124 6 Monday 08/08/ ,452 7 Monday 25/07/ ,190 8 Friday 12/08/ ,747 9 Friday 29/07/ , Monday 22/08/ ,068 30th Busiest Day 30 Monday 04/07/ ,948 Average Day Monday 17/04/ ,926 Average Day = Day with passenger traffic closest to the average (14,207,064/365=38,923) Airline Awards 2005 Category Western Europe Fastest Growing Airline per Eastern Europe Geographical Middle East Region America Africa Domestic Overall Fastest Growing Airline in thin Route Best Performing new Airline Best of the top 10 Airlines Winner Turkish Airlines CSA Czech Airlines Emirates Olympic Airlines Olympic Airlines Aegean Airlines Aegean Airlines LOT-Polish Airlines Gulf Air Swiss Intl Air Lines Daily Passenger Peaks Busiest Days Day Date Terminal Passengers Arrivals Monday 20/06/ ,571 Domestic Departures Friday 17/06/ ,418 Total Friday 12/08/ ,650 Arrivals Saturday 30/07/ ,725 International Departures Saturday 20/08/ ,365 Total Saturday 30/07/ ,645 Arrivals Monday 20/06/ ,988 Total Departures Saturday 13/08/ ,982 Total Saturday 30/07/ ,

12 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 18 aircraft movements The total number of flights operated to/from Athens International Airport during 2005 amounted to 180,936, 5.3% below the corresponding 2004 levels, with both domestic and international operations experiencing similar levels of decline. Domestic operations were largely affected by the reduced capacity offered by both Aegean Airlines and Olympic Airlines, year round. International services were affected by an exceptionally high number of flights during the peak summer period of 2004, due to the Olympic Games; it is indicative that during August, international flights were 18.3% below the equivalent period of Moreover, with the beginning of the winter flight schedule, both domestic and international services were significantly reduced. International scheduled movements experienced a drop of -6% in 2005, with the majority of the top 10 international markets suffering a considerable decline. Cyprus achieved an overall positive development (despite Helios Airways cease of operation following the tragic aircraft accident), mostly due to the increased capacity put by Aegean Airlines in the specific market.turkey and Romania achieved double-digit growth, climbing up the ladder of the international scheduled ranking, the first gaining the 6th from the 9th position, and the latter entering the top 10, driving Spain out of the 10th place. On the contrary, the development of the international charter flights was positive, presenting a significant growth of 8.1% over 2004, mostly driven by the significant increase of the top charter destinations. Outstanding growth was achieved by Spain and the new top 10 entrants Turkey, Canada and the Netherlands, whereas only Czech Republic, Sweden and Austria showed a decreased number of charter flights. Smaller markets, however, presented a significant drop in 2005, due to the industry's overall declining trend, but more importantly to the large number of charter flights from all around the world in 2004, due to the Olympic Games. Regarding the ranking of European destinations for scheduled passenger movements, the entrance of Istanbul in the top 10, acquiring the 8th place, is worth noting.with respect to non-european routes, the entrance of Qatar in the Athens market and its strong development resulted in Doha reaching the 8th place, with only 6 months of operation on the specific route. Among the airlines operating at Athens International Airport, the top 5 in terms of movements are Olympic Airlines,Aegean Airlines,Alitalia, Lufthansa, and Cyprus Airways; the latter taking Hellas Jet's place.the next 5 places are acquired by Air France, easyjet, Swiss, British Airways and KLM, all climbing up one position compared to the 2004 ranking. Low-cost carriers represented 8% of the international scheduled movements in 2005, compared to 7.7% in 2004, whereas non-allied carriers (excluding Olympic Airlines and Aegean Airlines) also presented an increase in their market share from 30.5% to 33.2%. In terms of aircraft types, Boeing is the most frequently used aircraft at Athens Airport, representing 21.6% of the total number of operated flights, followed by Avro RJ100 and ATR 72.These three aircraft types are the ones mostly used by the Airport's home-based carriers, with B and ATR72 representing 58% of Olympic Airlines services and B and Avro RJ100 accounting for 74% of Aegean Airlines flights. Monday and Friday are the weekdays holding the top positions in the daily movements ranking.with 654 movements, Monday, 1 August, was the peak day of the year, in accordance with the busiest day for domestic flights.the peak in international movements was also claimed on a Monday, that of 22 August, while it is worth noting that, with the exception of the year 2004, the domestic peaks are traditionally higher than the international ones. 19

13 aerostat 2006new.qxd 4/14/06 3:18 PM ÂÏ 20 Monthly Distribution of A/C Movements: Arrivals/Departures Arrivals Departures Total Month 2005 % 2005/ % 2005/ % 2005/2004 January 6, % 6, % 13, % February 6, % 6, % 12, % March 7, % 7, % 14, % April 7, % 7, % 14, % May 7, % 7, % 15, % June 8, % 8, % 16, % July 8, % 8, % 17, % August 9, % 9, % 18, % September 8, % 8, % 16, % October 7, % 7, % 15, % November 6, % 6, % 12, % December 6, % 6, % 13, % Year Total 90, % 90, % 180, % Monthly Distribution of A/C Movements by Flight Type Commercial Non-Commercial Grand Total Month Scheduled Pax Charter Pax Scheduled Cargo Charter Cargo Other January 12, ,662 February 10, ,230 March 12, ,245 April 12, ,973 May 13, ,748 June 13, ,210 16,176 July 14, ,223 17,978 August 14, ,049 18,300 September 13, ,133 October 13, ,512 November 11, ,690 December 11, ,289 Year Total 153,348 3,847 5,600 1,923 5,596 10, ,936 Monthly Distribution of A/C Movements: Domestic/International Domestic International Total Month 2005 % 2005/ % 2005/ % 2005/2004 January 6, % 7, % 13, % February 5, % 6, % 12, % March 6, % 7, % 14, % April 7, % 7, % 14, % May 7, % 8, % 15, % June 8, % 8, % 16, % July 9, % 8, % 17, % August 9, % 9, % 18, % September 7, % 8, % 16, % October 7, % 8, % 15, % November 6, % 6, % 12, % December 6, % 6, % 13, % Year Total 88, % 92, % 180, % Monthly Distribution of A/C Movements: Intra-/Extra-Schengen Intra-Schengen Extra-Schengen Total Month 2005 % 2005/ % 2005/ % 2005/2004 January 9, % 3, % 13, % February 8, % 3, % 12, % March 10, % 3, % 14, % April 11, % 3, % 14, % May 11, % 4, % 15, % June 12, % 4, % 16, % July 13, % 4, % 17, % August 13, % 4, % 18, % September 11, % 4, % 16, % October 11, % 4, % 15, % November 9, % 3, % 12, % December 9, % 3, % 13, % Year Total 133, % 47, % 180, % 20 21

14 aerostat 2006new.qxd 4/14/06 3:30 PM ÂÏ 22 Top 10 International Markets/Countries for Scheduled Pax Movements A/C Movements Market Share Ranking Country %2005/ Germany 13, % -12.0% 2 Italy 10, % -7.0% 3 Cyprus 8, % 1.0% 4 United Kingdom 6, % -15.8% 5 France 4, % -19.1% 6 Turkey 2, % 17.9% 7 Belgium 2, % -21.9% 8 Switzerland 2, % -1.3% 9 Netherlands 2, % -9.1% 10 Romania 2, % 16.4% Other 23, % 0.0% Total 79, % -6.0% Top 10 International Markets/Countries for Charter Pax Movements A/C Movements Market Share Ranking Country %2005/ France 1, % 29.6% 2 Spain % 114.8% 3 Czech Republic % -24.3% 4 Italy % 8.5% 5 Turkey % 200.0% 6 Sweden % -6.4% 7 Belgium % 15.7% 8 Canada % % 9 Netherlands % 156.8% 10 Austria % -3.2% Other % -46.0% Total 3, % 8.1% Ranking of International Destinations According to A/C Movements Scheduled & Charter Market Share Ranking Country* Pax A/C Movements % 2005/ Germany 13, % -12.1% 2 Italy 10, % -6.8% 3 Cyprus 8, % 0.8% 4 United Kingdom 6, % -18.3% 5 France 6, % -9.8% 6 Turkey 2, % 21.6% 7 Belgium 2, % -20.8% 8 Switzerland 2, % -0.9% 9 Spain 2, % 7.0% 10 Netherlands 2, % -6.7% 11 Romania 2, % 16.1% 12 Egypt 1, % 3.7% 13 Bulgaria 1, % 26.9% 14 Albania 1, % -0.4% 15 Austria 1, % 0.0% 16 USA 1, % -5.3% 17 Denmark 1, % -6.2% 18 Czech Republic 1, % 23.6% 19 Hungary 1, % -3.3% 20 Israel 1, % 0.0% 21 Russian Federation % -21.3% 22 United Arab Emirates % 10.2% 23 Poland % 17.7% 24 Serbia & Montenegro % 1.5% 25 Lebanon % -1.8% 26 Bahrain % 6.6% 27 Ukraine % -0.5% 28 Canada % 14.7% 29 Luxembourg % -32.3% 30 Moldova % -13.4% 31 Qatar % NEW 32 S Africa % 1.0% 33 Thailand % -0.3% 34 Sweden % -46.9% 35 Singapore % -10.9% 36 Jordan % -3.6% 37 Tunisia % 8.7% 38 Malta % -8.3% 39 Syria % 1.5% 40 Kuwait % -3.4% 41 Finland % 79.5% 42 Uzbekistan % -32.7% 43 Norway % 151.0% 44 Georgia % -28.9% 45 Armenia % 8.0% 46 Slovakia % 423.5% 47 Republic of Ireland % % 48 Saudi Arabia % -76.7% 49 Portugal % -70.9% 50 Estonia % 966.7% 51 Croatia % -35.3% 52 Slovenia 8 0.0% -63.6% 53 Morocco 6 0.0% 54 Lithuania 4 0.0% -50.0% 55 Iceland 3 0.0% 50.0% 56 Iraq 3 0.0% 57 Bosnia and Herzegovina 1 0.0% -75.0% 58 Malaysia 1 0.0% Total 82, % -5.5% * The country of first origin for arrivals and last destination for departures 22 23

15 aerostat 2006new.qxd 4/14/06 3:19 PM ÂÏ 24 Ranking of International Destinations According to A/C Movements Scheduled & Charter Market Share Ranking City* Pax A/C Movements % 2005/2004 1* Larnaca -Paphos 8, % 0.8% 2 London 6, % -18.5% 3 Paris 5, % -13.4% 4 Rome 5, % -2.9% 5 Milan 4, % -8.0% 6 Frankfurt 4, % -2.6% 7 Munich 3, % -17.7% 8 Istanbul 2, % 21.6% 9 Brussels 2, % -20.8% 10 Amsterdam 2, % -6.6% 11* Madrid - Barcelona 2, % 7.1% 12 Bucharest 2, % 16.0% 13 Dusseldorf 2, % -17.1% 14 Sofia 1, % 27.1% 15 Cairo 1, % -0.3% 16 Zurich 1, % -0.1% 17 Berlin 1, % 21.4% 18 Tirana 1, % -0.4% 19 Vienna 1, % -0.7% 20 New York 1, % -4.6% 21 Copenhagen 1, % -6.2% 22 Stuttgart 1, % -25.9% 23 Prague 1, % 21.9% 24 Geneva 1, % -2.0% 25 Budapest 1, % -3.3% 26 Tel Aviv 1, % 0.0% 27* Dubai - Kuwait 1, % 8.0% 28 Belgrade % 1.1% 29 Moscow % -21.1% 30 Beirut % -1.8% 31 Bahrain % 6.6% 32 Venice % 5.7% 33 Warsaw % 2.4% 34* Toronto - Montreal % 15.2% 35 Luxembourg % -32.3% 36 Kiev % -5.3% 37 Cologne % -15.9% 38 Chisinau % -13.4% 39 Doha % NEW 40 Johannesburg % 1.0% 41 Bangkok % 0.3% 42 Manchester (GB) % -28.5% 43 Alexandria (EG) % 28.5% 44 Singapore % -10.9% 45 Katowice % 66.7% 46 Nantes % 44.7% 47 Stockholm % -52.2% 48 Amman % -3.6% 49 Tunis % 6.1% 50 Lyon % 36.6% 51 Malta % -8.3% 52* Damascus - Aleppo % 1.5% 55 Toulouse % 10.7% 56 Marseille % 21.1% 57 Glasgow (GB) % 64.2% 58 Donetsk % NEW 59 Tashkent % -32.7% 60 Helsinki % 94.2% 61 Tbilisi % -28.9% 62 Oslo % NEW 63 Yerevan % 8.0% 64 Nuremberg % -6.7% 65 Mulhouse % 18.8% 66 Bratislava % NEW 67 St Petersburg (RU) % 2.4% 68 Dublin % NEW 69 Krasnodar % 16.4% 70 Bordeaux % -23.0% 71* Riyadh - Jeddah % -76.3% 72 Gothenburg % 14.6% 73 Bologna % NEW 74 Lisbon % -55.1% 75 Tallinn % 966.7% 76 Strasbourg % 20.0% 77 Metz/Nancy % 78 Brno % 633.3% 79 Palma Mallorca % 0.0% 80 Chernovtsy % 81 Salzburg % 100.0% 82 Seville % % 83 Cagliari % 84 Rovaniemi % 71.4% 85 Trondheim % 100.0% 86 Palermo % 37.5% 87 Ljubljana 8 0.0% -63.6% 88 Djerba 8 0.0% 300.0% 89 Newcastle (GB) 7 0.0% -74.1% 90 Krakow 7 0.0% 91 Trieste 6 0.0% -83.8% 92 Tenerife 6 0.0% -64.7% 93 Leipzig 6 0.0% 50.0% 94 Almeria 6 0.0% 95 Dubrovnik 6 0.0% 96 Marrakech 6 0.0% 97 Birmingham (GB) 5 0.0% -16.7% 98 Limoges 5 0.0% 400.0% 99 Mariupol 4 0.0% -91.3% 100 Sharm el Sheikh 4 0.0% 33.3% 101 Pau 4 0.0% 100.0% 102 Bremen 4 0.0% 103 Vitoria (ES) 4 0.0% 104 Zagreb 3 0.0% -78.6% 105 Monastir 3 0.0% 0.0% 106 Reykjavik 3 0.0% 50.0% 107 Simferopol 3 0.0% 50.0% 108 Catania 3 0.0% 109 Dole 3 0.0% 110 Erbil 3 0.0% 111 Naples (IT) 2 0.0% 112 Hamburg 2 0.0% 113 Hanover 2 0.0% 114 Lille 2 0.0% 115 Ancona 2 0.0% 116 Abu Dhabi 2 0.0% 117 Vilnius 2 0.0% 118 Kemi/Tornio 2 0.0% 119 Verona 2 0.0% 120 Edinburgh 2 0.0% 121 Valencia (ES) 2 0.0% 122 Rotterdam 2 0.0% 123 Split 2 0.0% 124 Trabzon 2 0.0% 125 Cardiff 2 0.0% 126 Gdansk 2 0.0% 127 Kaunas 2 0.0% 128 Kayseri 2 0.0% 129 Kiruna 2 0.0% 130 Malaga 2 0.0% 131 Nevsehir 2 0.0% 132 Perugia 2 0.0% 133 Podgorica 2 0.0% 134 Sabiha Gokcen 2 0.0% 135 Timisoara 2 0.0% 136 Florence (IT) 1 0.0% -93.3% 137 Sarajevo 1 0.0% -75.0% 138 Teesside 1 0.0% -75.0% 139 Antalya 1 0.0% -50.0% 140 Izmir 1 0.0% -50.0% 141 Aswan 1 0.0% 0.0% 142 Ekaterinburg 1 0.0% 0.0% 143 Turin 1 0.0% 0.0% 144 Basel 1 0.0% 145 Bastia 1 0.0% 146 Genoa 1 0.0% 147 Grosseto 1 0.0% 148 Kuala Lumpur 1 0.0% 149 Linz 1 0.0% 150 Oulu 1 0.0% 151 Pristina 1 0.0% 152 Sharjah 1 0.0% Total 82, % -5.5% * In the cases of international flights with intermediate stop(s), the cities included in the routing are presented together. Ranking of Domestic Destinations According to A/C Movements Scheduled & Charter Market % 2005/ Pax A/C Share 2004 Ranking City* Movements Thessaloniki 9, % -8.0% 2 Heraklion 8, % -12.7% 3 Rhodes 6, % -5.0% 4 Chania 5, % -3.4% 5 Mitilini 4, % -1.8% 6 Chios 4, % 1.3% 7 Thira/Santorini 3, % -7.0% 8 Kos 3, % 0.2% 9 Mikonos 3, % -4.6% 10 Kerkyra/Corfu 3, % -4.2% 11 Alexandroupolis 3, % -9.7% 12 Samos 2, % 2.0% 13 Ioannina 2, % -3.1% 14 Kavala 2, % 26.1% 15 Limnos 1, % -8.7% 16 Paros 1, % -3.9% 17 Kefallonia 1, % 10.2% 18 Zakinthos % 21.3% 19 Milos % -6.6% 20 Naxos % -2.3% 21 Aktio % -7.6% 22 Leros % -0.3% 23 Kithira % 2.1% 24 Skiathos % -2.3% 25 Karpathos % -5.3% 26 Syros % -15.1% 27 Astypalea % -5.0% 28 Ikaria % -5.0% 29* Kastoria-Kozani % -6.2% 30 Skiros % 3.1% 31 Sitia % -15.4% 32 Kasos 2 0.0% -33.3% Total 74, % -4.3% * In the cases of domestic flights with intermediate stop(s), the cities included in the routing are presented together

16 aerostat 2006new.qxd 4/14/06 3:19 PM ÂÏ 26 Peak and Average Daily A/C Movements Ranking Day Date No of Flights 1 Monday 01/08/ Monday 22/08/ Friday 12/08/ Friday 15/07/ Busiest Days 5 Thursday 28/07/ Friday 17/06/ Monday 25/07/ Monday 08/08/ Friday 05/08/ Friday 29/07/ th Busiest Day 30 Monday 11/07/ Average Day Monday 03/01/ Average Day = Day with a/c movement traffic closest to average (180,936/365=496) Daily A/C Movements Peaks Day Date No of Flights Arrivals Monday 01/08/ Domestic Departures Monday 01/08/ Total Monday 01/08/ Arrivals Monday 22/08/ International Departures Monday 01/08/ Total Monday 22/08/ Arrivals Monday 01/08/ Total Traffic Departures Monday 01/08/ Total Monday 01/08/ Monthly Distribution of MTOW by Flight Type (in tons) Commercial Non-Commercial Grand Total Month Scheduled Pax Charter Pax Scheduled Cargo Charter Cargo Other January 759,077 10,357 14,768 16,196 7,182 13, ,851 February 664,977 7,701 16,723 15,324 5,392 13, ,926 March 771,541 8,769 19,397 16,257 5,544 20, ,192 April 822,727 20,353 16,872 16,073 5,149 20, ,348 May 852,662 38,107 16,746 15,843 6,527 20, ,504 June 828,807 42,368 17,759 14,699 8,561 27, ,736 July 920,750 52,673 18,055 13,494 11,612 23,869 1,040,452 August 943,123 56,605 18,033 15,631 11,744 24,039 1,069,175 September 864,418 44,465 18,128 18,086 10,288 18, ,560 October 832,286 28,814 16,914 19,043 8,044 17, ,526 November 679,156 4,421 20,816 16,447 6,604 13, ,999 December 700,895 13,284 22,016 14,885 4,979 15, ,837 Year Total 9,640, , , ,977 91, ,943 10,697,

17 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 24 Ranking of International Destinations According to A/C Movements Scheduled & Charter Market Share Ranking City* Pax A/C Movements % 2005/2004 1* Larnaca -Paphos 8, % 0.8% 2 London 6, % -18.5% 3 Paris 5, % -13.4% 4 Rome 5, % -2.9% 5 Milan 4, % -8.0% 6 Frankfurt 4, % -2.6% 7 Munich 3, % -17.7% 8 Istanbul 2, % 21.6% 9 Brussels 2, % -20.8% 10 Amsterdam 2, % -6.6% 11* Madrid - Barcelona 2, % 7.1% 12 Bucharest 2, % 16.0% 13 Dusseldorf 2, % -17.1% 14 Sofia 1, % 27.1% 15 Cairo 1, % -0.3% 16 Zurich 1, % -0.1% 17 Berlin 1, % 21.4% 18 Tirana 1, % -0.4% 19 Vienna 1, % -0.7% 20 New York 1, % -4.6% 21 Copenhagen 1, % -6.2% 22 Stuttgart 1, % -25.9% 23 Prague 1, % 21.9% 24 Geneva 1, % -2.0% 25 Budapest 1, % -3.3% 26 Tel Aviv 1, % 0.0% 27* Dubai - Kuwait 1, % 8.0% 28 Belgrade % 1.1% 29 Moscow % -21.1% 30 Beirut % -1.8% 31 Bahrain % 6.6% 32 Venice % 5.7% 33 Warsaw % 2.4% 34* Toronto - Montreal % 15.2% 35 Luxembourg % -32.3% 36 Kiev % -5.3% 37 Cologne % -15.9% 38 Chisinau % -13.4% 39 Doha % NEW 40 Johannesburg % 1.0% 41 Bangkok % 0.3% 42 Manchester (GB) % -28.5% 43 Alexandria (EG) % 28.5% 44 Singapore % -10.9% 45 Katowice % 66.7% 46 Nantes % 44.7% 47 Stockholm % -52.2% 48 Amman % -3.6% 49 Tunis % 6.1% 50 Lyon % 36.6% 51 Malta % -8.3% 52* Damascus - Aleppo % 1.5% 55 Toulouse % 10.7% 56 Marseille % 21.1% 57 Glasgow (GB) % 64.2% 58 Donetsk % NEW 59 Tashkent % -32.7% 60 Helsinki % 94.2% 61 Tbilisi % -28.9% 62 Oslo % NEW 63 Yerevan % 8.0% 64 Nuremberg % -6.7% 65 Mulhouse % 18.8% 66 Bratislava % NEW 67 St Petersburg (RU) % 2.4% 68 Dublin % NEW 69 Krasnodar % 16.4% 70 Bordeaux % -23.0% 71* Riyadh - Jeddah % -76.3% 72 Gothenburg % 14.6% 73 Bologna % NEW 74 Lisbon % -55.1% 75 Tallinn % 966.7% 76 Strasbourg % 20.0% 77 Metz/Nancy % 78 Brno % 633.3% 79 Palma Mallorca % 0.0% 80 Chernovtsy % 81 Salzburg % 100.0% 82 Seville % % 83 Cagliari % 84 Rovaniemi % 71.4% 85 Trondheim % 100.0% 86 Palermo % 37.5% 87 Ljubljana 8 0.0% -63.6% 88 Djerba 8 0.0% 300.0% 89 Newcastle (GB) 7 0.0% -74.1% 90 Krakow 7 0.0% 91 Trieste 6 0.0% -83.8% 92 Tenerife 6 0.0% -64.7% 93 Leipzig 6 0.0% 50.0% 94 Almeria 6 0.0% 95 Dubrovnik 6 0.0% 96 Marrakech 6 0.0% 97 Birmingham (GB) 5 0.0% -16.7% 98 Limoges 5 0.0% 400.0% 99 Mariupol 4 0.0% -91.3% 100 Sharm el Sheikh 4 0.0% 33.3% 101 Pau 4 0.0% 100.0% 102 Bremen 4 0.0% 103 Vitoria (ES) 4 0.0% 104 Zagreb 3 0.0% -78.6% 105 Monastir 3 0.0% 0.0% 106 Reykjavik 3 0.0% 50.0% 107 Simferopol 3 0.0% 50.0% 108 Catania 3 0.0% 109 Dole 3 0.0% 110 Erbil 3 0.0% 111 Naples (IT) 2 0.0% 112 Hamburg 2 0.0% 113 Hanover 2 0.0% 114 Lille 2 0.0% 115 Ancona 2 0.0% 116 Abu Dhabi 2 0.0% 117 Vilnius 2 0.0% 118 Kemi/Tornio 2 0.0% 119 Verona 2 0.0% 120 Edinburgh 2 0.0% 121 Valencia (ES) 2 0.0% 122 Rotterdam 2 0.0% 123 Split 2 0.0% 124 Trabzon 2 0.0% 125 Cardiff 2 0.0% 126 Gdansk 2 0.0% 127 Kaunas 2 0.0% 128 Kayseri 2 0.0% 129 Kiruna 2 0.0% 130 Malaga 2 0.0% 131 Nevsehir 2 0.0% 132 Perugia 2 0.0% 133 Podgorica 2 0.0% 134 Sabiha Gokcen 2 0.0% 135 Timisoara 2 0.0% 136 Florence (IT) 1 0.0% -93.3% 137 Sarajevo 1 0.0% -75.0% 138 Teesside 1 0.0% -75.0% 139 Antalya 1 0.0% -50.0% 140 Izmir 1 0.0% -50.0% 141 Aswan 1 0.0% 0.0% 142 Ekaterinburg 1 0.0% 0.0% 143 Turin 1 0.0% 0.0% 144 Basel 1 0.0% 145 Bastia 1 0.0% 146 Genoa 1 0.0% 147 Grosseto 1 0.0% 148 Kuala Lumpur 1 0.0% 149 Linz 1 0.0% 150 Oulu 1 0.0% 151 Pristina 1 0.0% 152 Sharjah 1 0.0% Total 82, % -5.5% * In the cases of international flights with intermediate stop(s), the cities included in the routing are presented together. Ranking of Domestic Destinations According to A/C Movements Scheduled & Charter Market % 2005/ Pax A/C Share 2004 Ranking City* Movements Thessaloniki 9, % -8.0% 2 Heraklion 8, % -12.7% 3 Rhodes 6, % -5.0% 4 Chania 5, % -3.4% 5 Mitilini 4, % -1.8% 6 Chios 4, % 1.3% 7 Thira/Santorini 3, % -7.0% 8 Kos 3, % 0.2% 9 Mikonos 3, % -4.6% 10 Kerkyra/Corfu 3, % -4.2% 11 Alexandroupolis 3, % -9.7% 12 Samos 2, % 2.0% 13 Ioannina 2, % -3.1% 14 Kavala 2, % 26.1% 15 Limnos 1, % -8.7% 16 Paros 1, % -3.9% 17 Kefallonia 1, % 10.2% 18 Zakinthos % 21.3% 19 Milos % -6.6% 20 Naxos % -2.3% 21 Aktio % -7.6% 22 Leros % -0.3% 23 Kithira % 2.1% 24 Skiathos % -2.3% 25 Karpathos % -5.3% 26 Syros % -15.1% 27 Astypalea % -5.0% 28 Ikaria % -5.0% 29* Kastoria-Kozani % -6.2% 30 Skiros % 3.1% 31 Sitia % -15.4% 32 Kasos 2 0.0% -33.3% Total 74, % -4.3% * In the cases of domestic flights with intermediate stop(s), the cities included in the routing are presented together

18 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 26 Peak and Average Daily A/C Movements Ranking Day Date No of Flights 1 Monday 01/08/ Monday 22/08/ Friday 12/08/ Friday 15/07/ Busiest Days 5 Thursday 28/07/ Friday 17/06/ Monday 25/07/ Monday 08/08/ Friday 05/08/ Friday 29/07/ th Busiest Day 30 Monday 11/07/ Average Day Monday 03/01/ Average Day = Day with a/c movement traffic closest to average (180,936/365=496) Daily A/C Movements Peaks Day Date No of Flights Arrivals Monday 01/08/ Domestic Departures Monday 01/08/ Total Monday 01/08/ Arrivals Monday 22/08/ International Departures Monday 01/08/ Total Monday 22/08/ Arrivals Monday 01/08/ Total Traffic Departures Monday 01/08/ Total Monday 01/08/ Monthly Distribution of MTOW by Flight Type (in tons) Commercial Non-Commercial Grand Total Month Scheduled Pax Charter Pax Scheduled Cargo Charter Cargo Other January 759,077 10,357 14,768 16,196 7,182 13, ,851 February 664,977 7,701 16,723 15,324 5,392 13, ,926 March 771,541 8,769 19,397 16,257 5,544 20, ,192 April 822,727 20,353 16,872 16,073 5,149 20, ,348 May 852,662 38,107 16,746 15,843 6,527 20, ,504 June 828,807 42,368 17,759 14,699 8,561 27, ,736 July 920,750 52,673 18,055 13,494 11,612 23,869 1,040,452 August 943,123 56,605 18,033 15,631 11,744 24,039 1,069,175 September 864,418 44,465 18,128 18,086 10,288 18, ,560 October 832,286 28,814 16,914 19,043 8,044 17, ,526 November 679,156 4,421 20,816 16,447 6,604 13, ,999 December 700,895 13,284 22,016 14,885 4,979 15, ,837 Year Total 9,640, , , ,977 91, ,943 10,697,

19 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 28 cargo uplift The total cargo volume handled by Athens International Airport during 2005 followed the usual declining pattern of a post-olympic year amounting to 115,943 tons, thus being 2.6% lower than in year In particular, the total uplift of freight (91% of the market) decreased by 3.8%, while the total uplift of mail (9% of the market) increased by 11.6%. The 2005 results are considered satisfactory overall, since the market managed to sustain high levels of performance when compared to the previous exceptional year. Especially in the international sector, the trend was positive showing potential for further development. Total international freight and mail traffic (representing 81% of the market) was above the 2004 levels for the months March and April, as well as October through December and posted new traffic records. Overall, international uplift compared to the previous year decreased only by 0.5%. More specifically: The international freight uplift decreased by -1.7% compared to Nevertheless, volumes reached high levels especially towards yearend, while international outbound freight even showed a minor increase (+0.6% compared to 2004).This increase is largely attributed to the development of the Cypriot market. International mail also continued its upward trend since airport opening, exhibiting a 13.6% increase over International cargo movements decreased by approximately 6% due to the reduced number of charter flights, which in 2004 carried either Olympic Games-related goods or fish shipments. Ten carriers carried almost 75% of the total international traffic.the top-ten list is headed by Olympic Airlines and also comprises the following carriers: DHL - European Air Transport, Lufthansa, British Airways, UPS,TNT, Emirates,Thai Airways, Alitalia, and Cyprus Airways. Of the above, DHL- European Air Transport, UPS and TNT operated only cargo flights while Lufthansa and British Airways (effective September 2005) included both passenger and cargo flights in their schedules. Furthermore, Alitalia also operated a weekly truck service for inbound freight only. Finally, focusing on the international freight market, the four integrators (DHL-European Air Transport, FedEx Express,TNT, and UPS) increased their market share from 26% in 2004 to 27% in 2005, out of which approximately 19% is courier shipments. Moreover, integrators carried more inbound freight with their respective market share reaching 32% from 30% in 2004, while their market share in outbound freight amounted to 17%, presenting a slight increase compared to 2004 (16%). Total domestic freight and mail traffic (representing 19% of the market) experienced a 10.2% decrease compared to 2004, due to low freight volumes.the vast increase of the mail sector, which represents only 11% of domestic traffic, was not able to counterbalance the significant decrease of freight sector. More specifically: Domestic freight uplift has faced intense competition from other transportation means, especially the highspeed ferries.as a result, total traffic decreased by 11.9% with the inbound sector being the most affected one (-20.9% compared to 2004). Domestic mail uplift, on the contrary, increased by 5.5% compared to 2004, exhibiting record volumes since airport opening. Domestic cargo movements decreased by approximately 31% as a result of the lower volumes transported by airfreight. Six carriers shared the domestic market, four of which operated cargo flights (Antares Airtransport, Euroair, Mediterranean Air Freight and Veravia). Olympic Airlines and Aegean Airlines, being also the leaders of this market, deployed passenger aircraft only. 29

20 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 30 Monthly Cargo Uplift (in tons) Month Freight % 2005/2004 Mail % 2005/2004 Total Cargo % 2005/2004 Jan 6, % % 7, % Feb 7, % % 8, % Mar 9, % % 9, % Apr 9, % % 10, % May 8, % % 9, % Jun 8, % % 9, % Jul 9, % % 10, % Aug 8, % % 8, % Sep 9, % % 10, % Oct 9, % % 10, % Nov 9, % % 10, % Dec 9, % 1, % 10, % Total , % 10, % 115, % Monthly Freight Uplift (in tons) Month Inbound % 2005/2004 Outbound % 2005 / 2004 Jan 3, % 3, % Feb 4, % 3, % Mar 4, % 4, % Apr 5, % 4, % May 4, % 3, % Jun 4, % 3, % Jul 5, % 4, % Aug 4, % 3, % Sep 5, % 4, % Oct 5, % 4, % Nov 5, % 3, % Dec 4, % 4, % Total , % 47, % Monthly Mail Uplift (in tons) Month Inbound % 2005/2004 Outbound % 2005 / 2004 Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % Aug % % Sep % % Oct % % Nov % % Dec % % Total , % 5, % 30 31

21 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ

22 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 34 network In the course of 2005, a total of 61 carriers offered Athens International Airport travellers a choice of 32 domestic and 71 international scheduled destinations. At the same time, 103 airlines connected Athens with 139 foreign destinations through charter passenger services.aia's international network was enhanced in 2005 with 6 new destinations and 5 new scheduled carriers. During the summer 2005 period,aia welcomed 2 new low-cost carriers: SkyEurope Airlines, with 2 weekly frequencies to Bratislava and Budapest, and Sterling European Airlines, with 2 weekly services to Oslo and 1 to Stockholm. Qatar Airways landed at Athens Airport in June offering 6 non-stop scheduled flights per week between Doha and Athens, further enhancing the network between Athens and the Middle East. In addition to the above, Donbassaero launched 1 weekly service to Donetsk, while for the peak summer season, Blue Panorama Airlines commenced 2 weekly services to Bologna. New International Destinations Bratislava Bologna Doha Donetsk Dublin Oslo Furthermore, many of the existing carriers have increased their international frequencies in summer 2005 as follows: Olympic Airlines commenced 6 new weekly services to London Gatwick, while increasing its weekly frequencies to Berlin, Bucharest and Sofia by 3, and to Istanbul by 4. Services to London Gatwick have been further boosted by the commencement of 4 additional weekly frequencies from easyjet.aegean Airlines enhanced its operations in Cyprus by launching a 6-weekly service to Larnaca in addition to the existing 3 daily frequencies. Emirates commenced a 6-weekly non-stop service to Dubai, while CSA Czech Airlines increased its weekly services to Prague by 2 and LOT added 1 weekly flight to Warsaw. Focusing on cargo services, a total of 10 carriers operated scheduled cargo flights to/from Athens International Airport during 2005, with British Airways and Aeroland being the two newcomers in the particular market. In September, British Airways inaugurated a new scheduled cargo service, flying every Wednesday into AIA. British Airways' Boeing freighter, exceeding 120 tons in capacity, uses Athens as an intermediate stop in its new weekly frequency to the Far East (Stansted/London - Porto - Athens - Hong Kong). In December,Aeroland, a new Greek cargo airline, started operating domestic freighter flights, offering daily services to the Greek islands. New Airlines Blue Panorama Airlines Donbassaero Qatar Airways SkyEurope Airlines Sterling European Airlines 35

23 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ Airlines Operating Scheduled Passenger Flights Airline Country Aegean Airlines S.A. Greece Aeroflot Russian Federation Aerosvit Ukraine Air Berlin Germany Air France France Air Malta Malta Air Moldova Moldova Albanian Airlines Albania Alitalia Italy Alpi Eagles Italy Armavia Armenia Austrian Airlines Austria Blue Panorama Italy British Airways United Kingdom CSA Czech Airlines Czech Republic Cyprus Airways Cyprus Delta Air Lines USA DEUTSCHE BA Germany Donbassaero Ukraine easyjet United Kingdom Egypt Air Egypt EL-AL Israel Airlines Israel Emirates United Arab Emirates Finnair Finland Georgian Airways Georgia Germania Fluggesellschaft Germany Germanwings Germany Greece Airways United Kingdom Gulf Air Bahrain Helios Airways Cyprus Hellas Jet Greece Hemus Air Bulgaria Iberia Lineas Aereas de Espana Spain JAT Airways Serbia & Montenegro KLM Netherlands Kuban Airlines Russian Federation LOT Polish Airlines Poland LTU International Airways Germany Lufthansa Germany Luxair Luxembourg Maersk Air Denmark Malev Hungarian Airlines Hungary Middle East Airlines Lebanon Olympic Airlines Greece Pulkovo Aviation Russian Federation Qatar Airways Qatar Royal Jordanian Jordan Saudi Arabian Airlines Saudi Arabia Scandinavian Airlines Sweden Singapore Airlines Singapore SkyEurope Airlines Hungary Sterling European Airlines Norway Swiss International Air Lines Switzerland Syrianair Syria TAROM Romania Romania Thai Airways Thailand Tunisair Tunisia Turkish Airlines Turkey Uzbekistan Airways Uzbekistan Virgin Express Belgium Wizz Air Poland 10 Airlines Operating Scheduled Cargo Flights Airline Country Aeroland Greece British Airways UK DHL European Air Transport Belgium FedEx Express Belgium Lufthansa Cargo Germany Mediterranean Air Freight Greece Pan Aviation Turkey Star Air / UPS USA TNT Airways Belgium Vernicos Aviation / Veravia Greece 103 Airlines Operating Charter Passenger Flights Airline Country Adria Airways Slovenija Slovenia Aero Flight Germany Aeromist-Kharkin Ukraine Aero Rent Russian Federation Aigle Azur - Westair France Air Adriatic Croatia Air Atlanta Europe United Kingdom Air Bosna Bosnia and Herzegovina Air Europa Spain Air Finland Finland Air Horizons France Airlinair France Air Luxor Portugal Air Mediterranee France Air One Italy Air Plus Comet Spain Air Scandic United Kingdom Air Transat Canada Albatros Airways Albania Alexandair Greece Astraeus Airlines United Kingdom Atlas International Airways Turkey Atlasjet International Airways Turkey Aurela Lithuania Axis Airways France Blue Line France Britannia Airways United Kingdom British Midland Airways United Kingdom Bulgaria Air Bulgaria Carpatair Romania Charter Air Austria Cirrus Airlines Germany Condor Germany Corendon Airlines Turkey Corsair France Croatia Airlines Croatia Dniproavia Ukraine Dubrovnik Airlines Croatia Eagle Aviation France Edelweiss Air Switzerland Estonian Air Estonia Euroair Greece Eurocypria Airlines Cyprus Eurofly Italy Europe Air Post France Eurowings Germany Excel Airways United Kingdom First Choice Airways United Kingdom Fischer Air Polska Poland Fischer Air Czech Republic Flightline United Kingdom Fly Jet United Kingdom FlyMe Sweden Sweden Freebird Airlines Turkey Futura International Airways Spain Gazpromavia Russian Federation Germania Fluggesellschaft mbh Germany Gestion Aerea Exejutiva Spain Hamburg International Germany Hapag Lloyd Germany Hello Switzerland Hola Airlines Spain Iberworld Spain Icelandair Iceland Islandsflug Iceland Jetx Italy Kras Air Russian Federation Lithuanian Airlines Lithuania Livingston Italy Martinair Netherlands Meridiana Italy MNG Airlines Turkey Monarch Airlines United Kingdom Montenegro Airlines Serbia & Montenegro Motor Sich Aviakompania Ukraine Niki Austria Novair Sweden Omni Air International USA PGA Portugalia Airlines Portugal Pullmantur Spain Qantas Airways Australia RAF-AVIA Latvia Russia State Transport Company Russian Federation Slovak Airlines Slovakia Spanair Spain Star Airlines France Thomas Cook Airlines-Belgium Belgium Thomas Cook Airlines UK United Kingdom Titan Airways United Kingdom TNT Airways Belgium Transair Sweden Sweden Transavia Airlines Netherlands Transwede Airways Sweden Travel Service Airlines Czech Republic Travel Service Hungary Hungary TUI Airlines Brlgium Belgium Ural Airlines Russian Federation Utair Aviation Russian Federation Viking Sweden VIM Airlines Russian Federation Volareweb Italy White Portugal Windjet SPA Italy 32 Domestic Scheduled Destinations Aktio Alexandroupolis Astypalea Chania Chios Heraklion Ikaria Ioannina Karpathos Kastoria Kavala Kefallonia Kerkyra/Corfu Kithira Kos Kozani Leros Limnos Mikonos Milos Mitilini Naxos Paros Rhodes Samos Sitia Skiathos Skiros Syros Thessaloniki Thira/Santorini Zakinthos 71 International Scheduled Destinations Aleppo Alexandria (EG) Amman Amsterdam Bahrain Bangkok Barcelona (ES) Beirut Belgrade Berlin Bologna Bratislava Brussels Bucharest Budapest Cairo Chisinau Cologne Copenhagen Damascus Doha Donetsk Dubai Dublin Dusseldorf Frankfurt Geneva Glasgow (GB) Helsinki Istanbul Jeddah Johannesburg Katowice Kiev Krasnodar Kuwait Larnaca London Luxembourg Madrid Malta Manchester (GB) Milan Montreal Moscow Munich New York Nuremberg Odessa Oslo Paphos Paris Prague Riyadh Rome Singapore Sofia Stockholm St Petersburg (RU) Stuttgart Tashkent Tbilisi Tel Aviv Tirana Toronto Tunis Venice Vienna Warsaw Yerevan Zurich 139 International Charter Destinations Abu Dhabi Alexandria (EG) Almeria Amsterdam Ancona Antalya Aswan Barcelona (ES) Basel Bastia Beirut Belgrade Berlin Birmingham (GB) Bologna Bordeaux Bratislava Bremen Brno Brussels Bucharest Budapest Cagliari Cairo Cardiff Catania Chernovtsy Cologne Copenhagen Djerba Dole Donetsk Dubrovnik Dusseldorf Edinburgh Ekaterinburg Erbil Florence (IT) Frankfurt Gdansk Geneva Genoa Glasgow (GB) Gothenburg Grosseto Hamburg Hanover Helsinki Istanbul Izmir Kaunas Kayseri Kemi/Tornio Kiev Kiruna Krakow Krasnodar Kuala Lumpur Larnaca Leipzig Lille Limoges Linz Lisbon Ljubljana London Luxembourg Lyon Madinah Madrid Malaga Malta Manchester (GB) Mariupol Marrakech Marseille Metz/Nancy Milan Monastir Moscow Mulhouse Munich Nantes Naples (IT) Nevsehir Newcastle (GB) New York Oslo Oulu Palermo Palma Mallorca Paris Pau Perugia Podgorica Prague Pristina Reykjavik Riyadh Rome Rotterdam Rovaniemi Sabiha Gokcen Salzburg Sarajevo Seville Sharjah Sharm el Sheikh Simferopol Sofia Split Stockholm St Petersburg (RU) Strasbourg Stuttgart Tallinn Tbilisi Teesside Tel Aviv Tenerife Timisoara Tirana Toronto Toulouse Trabzon Trieste Trondheim Tunis Turin Valencia (ES) Venice Verona Vienna Vilnius Vitoria (ES) Warsaw Yerevan Zagreb Zurich 36 37

24 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 38 Bahrain Doha 38 39

25 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 40 During 2005, 31.7% of departing passenger flights were delayed for more than 15 minutes, presenting a small increase compared to the years 2003 and 2004, while the average delay time was 41 minutes and remained similar to that of the two previous years (40 & 39 respectively). Punctuality at Athens International Airport was affected in 2005 by days of unexpected adverse weather conditions and labour actions (seven 24h strikes and six 4h work suspensions). Scheduled and charter departing flights presented in 2005 average delays of 41 and 61 minutes respectively. Focusing on scheduled flights, 31.1% of the domestic operations presented a delay of over 15 minutes, being more punctual than European (31.5%) and intercontinental services (35.8%) overall. July was the month with the largest proportion of delayed departing flights (45.8%), while the greatest average departure delay times were observed in September (45 minutes). Focusing on delay reasons, the most frequent cause of a delayed departure flight is consistently the late arrival of the corresponding inbound flight (44.45%), with the Technical & Aircraft Equipment category coming second (11.51%). It is important to note that despite the slight deterioration of the Airport's overall punctuality, only 0.35% of the delayed departure flights are attributed to Airport Facilities (compared to 0.6% in 2004), reaffirming the Airport's operational efficiency. punctuality 41

26 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ 42 Monthly Punctuality Statistics Departing Flights Arriving Flights Month Events Affecting Proportion of Delayed Average Delay (in min) Proportion of Delayed Average Delay (in min) Punctuality Flights for more than of Flights Delayed for Flights for more than of Flights Delayed for 15 minutes more than 15 minutes 15 minutes more than 15 minutes Jan 22.3% % 44 Feb 23.6% % 45 Mar 23.8% % 45 Apr 27.1% % 40 May & & Flight Cancellations 28.2% % 42 and Delays due to Industrial actions of ATC personnel Jun Flight Cancellations and Delays due to 34.2% % 43 24h strike from OA crew staff Jul Flight Cancellations and Delays due to 45.8% % 50 adverse weather conditions Aug 44.2% % 45 Sep 37.5% % 48 Oct 25.9% % 45 Nov & Flight Cancellations 27.3% % 47 and Delays due to adverse weather conditions Dec 33.5% % 47 TOTAL % % 46 Proportion of Delay Reasons Reasons for Delay Arrivals Departures Reactionary 62.5% 44.5% Technical & Aircraft Equipment 4.7% 11.5% Flight Operations & Crewing 2.0% 10.7% Air Traffic Flow Management 4.0% 8.4% (ATFM) Restrictions Aircraft & Ramp Handling 4.6% 8.0% Passenger 5.2% 4.4% Restrictions at Airport of Departure 5.4% 3.4% (with or without ATFM restrictions) Weather 2.1% 2.2% Mandatory Security 2.6% 1.0% EDP/Automated Equipment 0.6% 0.6% Immigrations, Customs, Health 0.6% 0.5% Airport Facilities 3.1% 0.4% Cargo & Mail 0.2% 0.2% Baggage 0.4% 0.2% Restrictions at Airport Destination 0.1% 0.1% Damage to Aircraft 0.2% 0.1% Mail Only 0.0% 0.0% Airline Internal Codes 0.2% 0.0% Miscellaneous 1.5% 3.9% % of Delayed Flights for which 76.1% 60.1% a lay Reason Has Been Reported 42 43

27 aerostat 2006new.qxd 4/14/06 3:20 PM ÂÏ

28 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ 46 service performance Athens International Airport's service performance is consistently monitored since 2001, based on quantifiable performance indicators, deriving by the measurements of actual performance on critical areas. According to these measurements, the Airport presents a continuous improvement on the services offered to passengers, signifying the Airport Company's commitment to quality of service. One of the most remarkable results of 2005 was that the average queuing time for check-in in the Main Terminal Building has been further improved in comparison with 2004 and Overall, the year average for check-in queuing time dropped at 4:43 minutes compared to 05:37 in 2004 and 06:23 in The distribution of check-in queuing time shows another improvement as the percentage of queues of less than five minutes increased to 68% in 2005 (from 58% in 2003 and 67% in 2004). In regards to Security Screening queuing time (for passengers and hand luggage) the total year average was measured at 01:54 in comparison to 2:15 min for 2004.The ticket desk queues were measured at an average of 5:49, presenting a similar picture to In 2005, as of 1 September, a new performance indicator was established, namely Average Passport Control Time/Departures, presenting a measurement of 01:34 minutes during the first 3 months it was monitored. The baggage delivery service followed the same seasonal trend in 2005 as in previous years, presenting a slightly improved performance level. Overall, for 2005, the average for delivering the first bag from the onblocks position was 15:10 minutes (15:17 equivalent figure in 2004), while the time from first bag to last bag was 8:32 minutes on average. In regards to the call centre performance, the total year statistics demonstrate that 96.7% of incoming calls were replied in less than 2 minutes (95.3% in 2004). The information provision load at the Information Desks was 157 queries per hour, reaching the peak of 239 queries per hour in August. The analysis of passenger comments on a regular basis is an important part of AIA's corporate quality programme, since a set of performance indicators is connected to the management process for Passenger Comments. For 2005, there were 7,669 comments in total, made by 5,429 passengers. Of the total complaint items, 53.3% were attributed to AIA and the rest to 3rd parties. 3,358 letters of response were dispatched, of which 87.5% were customised case-specific letters. The average response time for 2005 was 27.3 days, meeting the 28day target set in accordance to ACI guidelines. 47

29 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ

30 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ 50 passenger profile The demographic & travelling profile of AIA passengers during 2005 presents interesting variations compared to 2004, the Olympic Games year. Although the share of male passengers remains stable through the years at 63%, the average age of passengers has been rising annually by one year, reaching 41 years in Traditionally,AIA passengers are of a particular high educational level (77% hold college/university degree) and the majority (66%) use the Internet as a source of information. Greek people still acquire the highest proportion at Athens Airport (55%), whilst they present an increase of 2 percentage points on the domestic market. On the other hand, foreign residents present a significant increase of 7% on the international market, reaching 2.9 million in Incoming traffic originating from North America and East European countries experienced a growth of 16% and 7% respectively. Passengers travelling for business purposes remain almost steady at 37%. Nevertheless, business travel presents an important increase of 6% among passengers flying within Greece.The highest share of business travellers has been observed among passengers travelling to the Middle East (54%) and Eastern Europe (45%).The main business motive of making an air trip is to attend a meeting (92%). Among leisure traffic, a noteworthy variation is the major boost of passengers visiting Athens on holidays, climbing from 63% in 2004 to 67% in Group holiday travelling steadily decreases, verifying the preference of travellers to organise their travelling experience according to their personal needs.vfr traffic remains particularly stable at 40% in 2005, with a slight increase on the domestic market by 4%.The proportion of VFR travellers is higher among passengers flying to Cyprus (57%) and USA (52%). With regard to the means of booking an air ticket, Athens Airport passengers increasingly use travel agencies/tour operators, coming up to 77% in Due to the stronger presence of the low-cost carriers in 2005, as well as the development of Internet booking both in the domestic and the international market, Internet booking presents an upward trend of 25%, still holding, however, a small share (5%).The positive development of tourism caused a slight increase in the reservation period, and in 2005 passengers organised their ticket arrangements approximately 19 days before their departure. Travellers most frequently collect their ticket from the travel agencies/tour operators (65%), while a large proportion of passengers pick up their ticket directly from the airline, either from the local offices (20%) or from the ticket sales desk at the Airport (6%). The Athens transfer product experienced a continuous decline during the last two years, with connecting passengers accounting for 20% of the Airport's overall passenger throughput in 2005.The considerable increase of foreign travellers visiting Athens and its catchment area, combined with the reduced capacity to domestic destinations could explain this development. Moreover, the observed decrease of domestic-to-domestic, as well as international-todomestic transfer movement is also indicative of the aforementioned trend. The top international destinations of passengers transferring via Athens Airport are Germany (14%), Italy (12%) and the United Kingdom (9%). USA climbs up to the sixth position, boosted by the overall remarkable growth of the specific market. Regarding passengers connecting in Athens in order to fly to other Greek destinations, Rhodes presents significant growth, climbing up to the first place (20%), followed by Heraklion (18%) and Thessaloniki (15%). The increased passenger traffic demand in 2005, combined with a considerable drop in the offered capacity, significantly affected the share of passengers connecting beyond Athens. Passengers reaching their final destination indirectly represented 20% of the Airport's total traffic (from 17% in 2004), whilst the markets presenting the most important growth of indirect traffic were North America (+17%) and Asia/Pacific (+9%). Regarding the indirect destinations ranking, New York occupies the top position followed by Lisbon, Sydney, Chicago and Oslo. Beijing ranks at the sixth place, entering the top 10 list of indirect destinations for the first time. 51

31 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ

32 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ

33 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ 56 tourism development Further to the promotion of the city during the Olympic Games of 2004,Athens is regaining its prestige as an attractive tourist destination. In 2005 foreign residents accounted for 63% of the Airport's international traffic, reaching 2.9 million, translated into a growth of 7%. More importantly, foreign residents visiting Athens on vacation reached 1.6 million passengers in 2005, presenting an outstanding rise of 16%.The highest level of growth in foreign tourist arrivals was observed from Eastern Europe by 46%, North America by 39% and the EU by 13%. With regard to the originating countries of incoming tourism, Germany steadily holds the top position with 255,753 tourists in 2005, showing a particularly positive trend with a growth of 20%.The traditional markets of Italy and France hold the next two places, with Italy presenting a major increase of 26% and France illustrating a healthy rise of 6%. Despite the drop in the number of tourists, the United Kingdom managed to gain the 4th position, followed by the United States that showed a remarkable growth in passengers travelling to Athens for holidays (+98%). The countries experiencing the highest boost on incoming tourism were the Czech Republic,Turkey, Romania, Portugal and Bulgaria.Tourists from these five countries were more than double in 2005 compared to 2004, with the Czech Republic accounting for 29,891 tourists,turkey 26,113 tourists and Romania 23,469 tourists; while tourists from Portugal and Bulgaria were approximately tripled since 2004.These developments indicate that these countries are potentially promising markets for incoming tourism in Athens and the rest of Greece. More than half of foreign holidaymakers passing through the Airport visited Athens and its catchment area either to make their holidays in the greater region or to spend some days in Athens and move on to other Greek tourist destinations for the rest of their holidays. Incoming tourism in Attica and the greater area climbed up to 1,017,120, presenting an increase of 19% compared to 2004, while foreign passengers on vacation using Athens Airport as a transfer point in order to visit mainly the Greek islands also presented double-digit growth, at the level of 12%. Chania was the most preferred domestic destination among foreign holidaymakers transferring in Athens, showing an 11% growth, followed by Rhodes, Heraklion, Mikonos and Santorini. German holidaymakers mostly preferred Crete and Rhodes, while British tourists went for Santorini and Mikonos. Italians passing through Athens Airport chose to spend their vacations mainly on Rhodes. The demographic profile and travelling habits of foreign tourists in the course of 2005 is as follows: 50%-50% male/female; average age 43 years; the majority visiting Athens for the first time; spending approximately 11 days in Greece on vacation, 4 of which to discover the city of Athens. The number of Greek residents flying to international destinations for holidays was also increased in Outgoing tourism has been estimated to 637,694, demonstrating a 26% rise over Greek people always keen on the Mediterranean weather and culture mostly preferred to spend their holidays in Italy and Cyprus.The United Kingdom, Germany and France were the next three preferences for the Greek holidaymakers travelling by air, as these countries and their capitals are popular vacation destinations throughout the year. The exotic holiday destinations of Tunis and Cuba, as well as the European countries of Finland, Ireland and Bulgaria, presented a tremendous increase of tourist volumes coming from Greece, being in fact the fastest growing international destinations for Greek holidaymakers. Greek people visiting international holiday spots comprise an equal proportion of males and females, although younger (average age: 39) than the tourists coming to Greece. Like the foreign tourists, they spend approximately 10 days on average on holidays, discovering different places and cultures in the world. 57

34 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ

35 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ 60 the greek aviation market 2005 was a year of positive development for the air transport market in Greece, with passenger traffic reaching 36.4 million passengers, 1 million above 2004 (+3%). International traffic presented a robust development, growing by 4.3% and reaffirming the favourable tourism development in Greece, while domestic traffic remained at the 2004 levels (+0.2%). The total number of flights operated out of the 38 commercial Greek airports amounted to 394 thousand (-3.6% below 2004), while uplifted cargo weighted 134 thousand tons, marginally lower than 2004 (-0.6%). Athens, Heraklion,Thessaloniki, Rhodes and Kerkyra/Corfu steadily hold the first 5 places among Greek airports in passenger traffic, all enjoying traffic growth in the course of 2005, with Athens and Heraklion passenger traffic rising at the level of 5%.A similar level of growth was observed at the other major Cretan airport of Chania, while Thira/Santorini achieved the highest growth among the top 10 Greek airports, at the level of 12%, presenting significant upsurge in both domestic and international sectors. Kos and Zakinthos were the only major Greek airports witnessing a decline, mostly driven by international passenger decrease, while smaller peripheral airports experienced a small drop in passenger traffic during 2005, mostly due to the decrease in domestic traffic. Focusing on Greece's international passengers, the majority (14.5 out of 25 million) are travelling on charter services, while a significant proportion (42%) of them are carried on scheduled services.athens International Airport represents the vast majority of international scheduled passengers (81%), with Thessaloniki being the only other Greek airport with substantial scheduled traffic to/from foreign destinations (14%). Heraklion and Kavala are the other two airports acquiring a small part of international scheduled passengers (4% between them). Heraklion Airport acquires the largest share of international charter traffic, with 3.8 million passengers, followed by Rhodes (2.4 million) and Kerkyra/Corfu (1.7 million). Kos and Chania hold the next two places, both surpassing 1 million passengers. As per Athens Airport's position in the Greek aviation market, it is evident that since the opening of the new airport in 2001,Athens is continuously gaining ground, growing at a faster pace than the rest of the Greek airports. Since 2002,Athens managed to increase its market share from 35% to 39% in 2005, mainly driven by the significant increase in the international sector, outperforming all the other major airports in Greece. The latter is indicative both of the gradual resurgence of Athens as an attractive tourist destination, further boosted by the favourable impact of the 2004 Olympic Games on the image of the city of Athens, and the successful implementation of AIA s aeronautical development strategy. 61

36 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ 62 Passenger Traffic of Main Greek Airports COMMERCIAL PASSENGERS DOMESTIC INTERNATIONAL TOTAL CITY 2005 % 2005/ % 2005/ % 2005/2004 Athens 5,164, % 9,102, % 14,267, % Heraklion 915, % 4,024, % 4,940, % Thessaloniki 1,452, % 2,216, % 3,669, % Rhodes 745, % 2,459, % 3,204, % Kerkyra/Corfu 268, % 1,712, % 1,981, % Chania 400, % 1,113, % 1,513, % Kos 252, % 1,210, % 1,462, % Zakinthos 30, % 949, % 979, % Thira/Santorini 266, % 346, % 612, % Mitilini 342, % 134, % 476, % Other GR airports 1,517, % 1,811, % 3,329, % TOTAL GREECE 11,356, % 25,080, % 36,437, % Aircraft Movements of Main Greek Airports COMMERCIAL AIRCRAFT MOVEMENTS DOMESTIC INTERNATIONAL TOTAL CITY 2005 % 2005/ % 2005/ % 2005/2004 Athens 81, % 89, % 170, % Thessaloniki 21, % 22, % 43, % Heraklion 11, % 25, % 37, % Rhodes 12, % 15, % 27, % Kerkyra/Corfu 3, % 10, % 14, % Chania 6, % 6, % 12, % Kos 4, % 7, % 11, % Mitilini 6, % 1, % 7, % Thira/Santorini 4, % 3, % 7, % Zakinthos 1, % 5, % 6, % Other GR airports 39, % 14, % 53, % TOTAL GREECE 192, % 201, % 393, % 62 63

37 aerostat 2006new.qxd 4/14/06 3:21 PM ÂÏ 64 the european and global aviation industry 2005 has been a year of considerable passenger traffic growth for the aviation industry worldwide, though at a decreased rate compared to 2004, reflecting a slightly slower pace of growth for the world economy, and the pressure from raised oil prices. Preliminary ACI results from over 850 airports worldwide illustrate that passenger traffic around the globe enjoyed a significant growth of 6.3%, whereas aircraft movements presented a more modest increase, surpassing 2004 levels by only 2%. For the second year in a row flights grow considerably slower compared to passengers, indicating that, despite the consistent upsurge in demand, airlines are placing emphasis on improving their efficiency through better utilisation of their resources and capacity, aiming to reduce their losses and achieve profitable operations. Cargo uplift also presented a rather moderate rise of 2.5% over Focusing on passenger traffic development per geographical region, Latin America was the fastest growing region, posting an increase of 10.4%, with the Middle East and Africa also enjoying strong growth close to 10% (+9.5% and +9.1% respectively). Europe and Asia/Pacific presented a robust traffic development, achieving similar growth levels (+7%) over 2004, whereas North America experienced the slowest increase, surpassing the corresponding 2004 traffic by a modest 4%. Focusing on the traffic development of European airports, among the top 10 airports according to passenger traffic, the highest growth was observed at the Spanish airports of Barcelona (+10.5%) and Madrid (+8.4%), followed by Munich (+6.7%). Paris CDG, with a passenger traffic rise of 4.9%, won the 2nd position on the European ladder from Frankfurt.Athens International Airport acquires the 25th position in Europe according to passenger traffic, the 24th in terms of aircraft movements and the 21st in terms of cargo uplift. Assessing the performance of Athens International Airport compared to the 33 European airports exceeding 10 million passengers in 2005, it is important to take into account that 2005 was a post-olympic Games year for Athens. In this context, the fact that Athens Airport was one of the few major airports in Europe to suffer a decline in aircraft movements was a rather expected development, while the healthy 4.5% growth of passenger traffic, slightly below the major European airport average of 5.3%, denotes the Airport's successful development during 2005, reflecting the continuously increasing demand for air travel in Athens and Greece. 65