Athens Int’l Airport: 16.2% EBITDA Increase and 16.5% Passenger Growth in Q1 2024

Athens International Airport disclosed its financial results for the first quarter of 2024, showing a significant uptick in total revenue and other income, soaring by 15.3 million euros or 15.3%. The surge was largely fueled by a 16.5% increase in passenger traffic, propelling both Aviation and Non-Aviation revenue streams, alongside commercial activities.

The first quarter witnessed a remarkable surge in airport traffic, with 5.2 million passengers, up by 16.5%. This upward trajectory reflects the enduring demand for air travel, particularly leisure, amid economic and geopolitical uncertainties, highlighting consumers’ continued prioritization of travel spending.

Domestic and international passenger traffic both saw substantial rises, climbing by 10.3% and 19.4%, respectively.

Adjusted EBITDA stood at 62.7 million euros, marking a 16.2% increase from the first quarter of 2023. After-tax profits saw a notable boost, rising by 6.5 million euros to 28.5 million euros, reflecting a 29.8% increase from the previous year’s first quarter earnings of 22.0 million euros.

Following the strong performance in the first quarter, the company revised its annual passenger traffic forecast for 2024 to 29.9 million passengers, a 6.3% increase (or roughly 1.8 million passengers) from 2023 levels.

This updated projection considers actual first quarter traffic performance and revised projections for the remainder of the year, aligned with the latest market trends and airline operations, particularly during the summer season of 2024, which is currently underway.