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Compliance & Ethics - AIA’s Corporate Governance Framework

Compliance & Ethics - AIA’s Corporate Governance Framework
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Athens International Airport S.A.

Athens International Airport (AIA) is Greece's largest aviation hub, renowned for its high productivity, robust profitability, and resilience over its 28-year history. Strategically located in Attica, Greece's economic center, AIA capitalizes on the travel demands of international visitors and Greek passengers, benefiting from a thriving tourism sector and favorable macroeconomic conditions.

In 2023, AIA served over 28 million passengers, exceeding pre-COVID-19 levels and outperforming many European airports. A significant milestone was achieved in February 2024 with AIA's listing on the Main Market of the Regulated Securities Market of the Athens Exchange, a long-standing goal for its shareholders as per the Airport Development Agreement (ADA).

With its strategic location and operational excellence, Athens International Airport is poised for continued growth and success

Athens International Airport - Traveller www.aia.gr

Corporate videos:

Athens International Airport serves as a global gateway for Greece!

“Route 2025”: Το αεροδρόμιο στο δρόμο για τη Βιώσιμη Ανάπτυξη - Νέο φωτοβολταϊκό πάρκο 16 MW 

 



Objective Action

Athens International Airport S.A. (AIA) implements a comprehensive corporate governance and business ethics system that safeguards transparency, accountability, and integrity across all operations. The governance framework aligns with national legislation and international best practices, incorporating the principles of responsible business conduct.

The initiative aims to:

  • Safeguard ethical, transparent, and accountable decision-making.
  • Prevent corruption and conflicts of interest through structured policies and internal monitoring.
  • Protect human rights, promote equality, and ensure personal data privacy.
  • Foster a culture of compliance through systematic training and awareness-raising programs.

This initiative supports SDG 8: Decent Work and Economic Growth and SDG 16: Peace, Justice and Strong Institutions, reinforcing AIA’s commitment to transparency and strong governance.

 

Target Audience

AIA's initiative addresses a diverse range of stakeholders, including:

  • Shareholders, Board of Directors, and Executive Management.
  • AIA Employees across all departments of the Airport.
  • Business partners, contractors, and suppliers.
  • Passengers, regulators, and the wider public.
 

Duration

Ongoing, with continuous updates to governance policies, systematic compliance and ethics training, regular assessments of the internal control system, and consistent reporting to the Board of Directors and particularly the Audit Committee.


Description

AIA has developed a robust governance and ethics framework that combines publicly available policies with internal mechanisms, ensuring transparency, accountability, and ethical conduct across all operations. This framework is a cornerstone of the Company’s long-term sustainability strategy and is regularly reviewed and updated to reflect evolving national legislation and international best practices.

The framework is underpinned by a set of formalised policies that establish clear expectations for employees, partners, and stakeholders. The Business Partners’ Code of Conduct sets out principles of integrity, transparency, and responsibility for all third parties collaborating with AIA (http://media.aia.gr/assets/aiaportal/media/root/business/currenttenders/pdfs/business-partners-code-of-conduct_en-for-public-use.pdf). The Human Rights Policy, aligned with the UN Guiding Principles on Business and Human Rights, safeguards the rights of employees and contractors while also promoting diversity and equal opportunity (http://investors.aia.gr/userfiles/LPFiles/policies-regulations/HumanRightsPolicy_EN.pdf). Ethical operations are reinforced by the Whistleblowing Policy, which provides secure and anonymous channels to report potential misconduct (https://www.aia.gr/en/corporate/whistleblowing-policy), and the Privacy & GDPR Policy, ensuring robust personal data protection in line with EU regulations (https://www.aia.gr/en/privacy-policy). In addition, the Remuneration Policy for the Members of the Board of Directors guarantees fair, transparent, and sustainable compensation practices (http://investors.aia.gr/userfiles/LPFiles/policies-regulations/RemunerationPolicy_0525_en.pdf).

Beyond these publicly available documents, the 2024 Annual Financial Report (https://media.aia.gr/ebooks/annual-report/ar2024/en/mobile/index.html) and the Operation Regulation (OPERATION-REGULATION-EN-V2.pdf) describe the multiple internal mechanisms that support AIA’s governance system. These include the Corporate Compliance Policy, Anti-Corruption Policy, Risk Management Policy, Internal Control System (ICS) assessment, Related Party Transactions framework, and ESG governance structures. Combined, these establish an integrated governance model with multiple safeguards and independent oversight, including structured reporting to the Board of Directors and particularly the Audit Committee.

Training and awareness are key elements of this system. In 2024, AIA delivered a total of 46,076 training hours (54.34 hours per FTE), surpassing its target. The training programs covered compliance, ethics, anti-corruption, GDPR, human rights, workplace safety, diversity, leadership, and technical skills.  

In addition, through the EU co-funded PROCAP project, a specialised training session was organised for Airport Community personnel in cooperation with the National Centre for Social Solidarity. This initiative aimed at strengthening staff capacity to identify and respond to cases of human trafficking, underlining the Company’s commitment to human rights protection and ethical responsibility.


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Impact on Society

As outlined in the 2024 Annual Financial Report (https://media.aia.gr/ebooks/annual-report/ar2024/en/mobile/index.html), AIA’s corporate governance system reinforces integrity and transparency, ensuring accountability across all areas of operation. Through the implementation of key policies such as the Human Rights Policy and Whistleblowing Policy, the Airport safeguards ethical conduct and the protection of individual rights, fostering a fair and secure working environment.

In 2024, AIA delivered a total of 46,076 hours, significantly strengthening awareness and responsibility within the Airport Community and supporting safer, further enhanced ethical business practices. At the same time, initiatives such as the PROCAP project, which raised awareness on human trafficking, further enhanced social trust, promoted equality, and strengthen AIA’s commitment to responsible and sustainable development.



Initiative Location

Spata, Attica, Athens International Airport’s facilities.


Working with Organization

PROCAP: National Centre for Social Solidarity.


Workers Participation

Employees actively contribute to maintaining AIA’s governance framework. Participation in the Company’s training programs covering compliance, ethics, safety, human rights, and technical excellence, equips staff with the knowledge and tools to apply governance principles in their daily responsibilities. Specialised initiatives, such as the PROCAP training on human trafficking, further demonstrate AIA’s commitment to human rights protection. The whistleblowing mechanism offers a secure and anonymous channel for reporting concerns, strengthening transparency and integrity across the Organisation.


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Benefits for Οrganization

The implementation of a structured governance and ethics framework reinforces AIA’s reputation as a transparent and responsibly governed Company. As outlined in the 2024 Annual Financial Report (https://media.aia.gr/ebooks/annual-report/ar2024/en/mobile/index.html), the integration of internal control systems, risk management, and compliance mechanisms strengthens investor and stakeholder confidence. At the same time, systematic training on compliance, ethics, and human rights equips employees to apply governance principles in their daily work. These measures enhance organisational resilience by mitigating governance-related risks, ensure alignment with international best practices, and support long-term sustainable growth.




Connection with Global Goals







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