Wednesday, April 17, 2024

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    Athens airport soars on the stock market

    Athens Airport's Stock Market Surge Signals Greek Economic Revival

    In a notable development captured by Les Echos, the Athens International Airport has taken a significant leap in the stock market, underscoring the Greek economic recovery. The French financial newspaper’s headline today, “Athens airport soars on the stock market and confirms Greek recovery,” highlights the burgeoning investor interest in “Eleftherios Venizelos.”

    The airport’s stock market debut is drawing widespread attention due to its pivotal role in Greece’s premier industry: tourism. As reported, the airport welcomed 28 million passengers last year, marking a 24% increase over a year, according to APE-MPE.

    Over the past five years, Les Echos reports, the Athens International Airport has expanded its network by adding 69 international destinations, bringing the total to 155. This expansion has been in collaboration with 32 airlines, making it the 9th busiest airport in Europe. Additionally, this summer, EasyJet is set to introduce five new destinations (Lyon, Bordeaux, Venice, Malaga, and Palma de Mallorca), and the Spanish low-cost carrier Volotea will offer 835,000 seats to the Greek capital, reflecting a 23% increase within a year.

    Another article in the same French newspaper also touches on the issue of overtourism affecting some Greek islands, such as Mykonos and Santorini. These popular destinations are reportedly seeing a decrease in bookings, highlighting the challenges of managing tourism growth sustainably.

    This surge in Athens International Airport’s stock market performance and its strategic expansion in the aviation network underscore the broader narrative of Greece’s economic resurgence. The airport’s success not only reflects the robust recovery of the Greek economy but also its critical contribution to the tourism sector, a key driver of the country’s prosperity. As Greece continues to navigate its way through economic challenges, the airport’s achievements offer a beacon of hope and a testament to the potential for further growth and recovery in the Greek market.

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