With the Middle East crisis soon completing three months in duration, and despite pressures that appeared in April, the management of the country’s largest airport maintains its forecast for further passenger traffic growth in 2026 as a whole.
Commenting on first-quarter results announced on Monday, the management of the Athens International Airport (AIA) reiterated its forecast for low single-digit passenger traffic growth for the full year, despite pressures that were more pronounced in last month’s traffic.
This forecast is based on the fact that demand for travel to Greece remains resilient so far, while the airport continues to focus on strengthening connectivity and developing new markets, including long-haul destinations in Asia and America.
In the first quarter—traditionally the weakest period of the year in terms of passenger traffic—the airport handled a total of 6.28 million passengers, recording an 8.1% increase compared to the first quarter of 2025. The strong growth momentum from the final quarter of 2025 continued through the first two months of the year, with January and February posting strong increases of around 8.6% and 13.2% respectively compared to 2025.
Passenger traffic growth slowed in March 2026 compared to the previous two months amid the escalating geopolitical crisis in the Middle East. However, traffic still remained 3.8% higher compared to 2025 levels.
The impact of geopolitical tensions continued into April, with passenger growth slowing to 1% compared to 2025. The company continues to closely monitor developments and, based on current data regarding the scope and duration of the Middle East conflict, “maintains its estimate for passenger traffic growth for 2026 as a whole at a low single-digit percentage,” according to management comments attributed to Mr. G. Kalimassias.
Expansion program
At the same time, construction works are underway for a multi-storey car park and a new aircraft parking area in the northwestern section of the airport, which began in 2025. The car park will have a capacity of approximately 3,365 spaces, while the new apron will provide 32 remote stands for Code C aircraft, as well as a new service station, taxiways, and service vehicle bridges. Completion of both projects is expected in 2027.
The company is also continuing the international tender process for the expansion of the Main and Satellite Terminal, implemented under the Early Contractor Involvement (ECI) approach, allowing early contractor input for more efficient planning and execution. The tender process is progressing smoothly, with the selection of the preferred contractor expected in the second half of 2026.
In the first quarter of 2026, total revenues and other income decreased by €7.1 million (5.7%) to €117.9 million compared to Q1 2025, mainly due to a temporary 30% discount on the Passenger Service Charge, which applied from 1 October 2025 to 30 April 2026.
Adjusted EBITDA stood at €55.3 million, down 14.9% year-on-year due to the pricing policy applied to align profitability with the regulatory framework.
Profit after tax amounted to €18.9 million, down by €7.3 million, as expected, in order to keep aviation-related results aligned with the regulatory framework after the exhaustion of the carried-forward amount (under the Airport Development Agreement, carried-forward aviation amounts refer to unrealised profits from one period that are transferred—adjusted for EU inflation—to be recovered in subsequent periods).
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