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Athens Airport, Greece's largest airport, has reported a decline in its adjusted operating profit for the first half of the year. The adjusted operating profit for the period stands at 182.3 million euros, a 0.6% decrease compared to the same period last year when it was 183.4 million euros.
The decline in profit is attributed to higher operating costs, according to the airport's latest financial report. The specific factors contributing to the growth in passenger numbers and revenues during the first half of the year were not detailed in the report.
Deutsche Lufthansa, which operates at Athens Airport, also reported a 0.6% decline in adjusted operating income to 182.3 million euros for the first half of the year. The decrease is primarily due to increased fuel and personnel costs.
Despite the growth in passenger numbers and revenues at Athens Airport, the higher operating costs outweighed the positive financial impact, resulting in a lower adjusted operating profit compared to the previous year's adjusted EBITDA.
The exact nature of the financial impact of the increase in operating costs on Athens Airport's overall financial performance was not specified in the report. However, it is clear that the growth in passenger numbers and revenues during the first half of the year did not offset the increase in operating costs.
This news comes as a setback for Athens Airport, which has been investing heavily in infrastructure and facilities to improve passenger experience and attract more airlines and tourists. The airport aims to remain a key gateway for travellers to Greece and continue its growth trajectory in the future.
In the meantime, the airport authorities are expected to closely monitor operating costs and implement measures to mitigate any further decline in profit. They are also working on strategies to increase revenue streams and further boost the airport's financial performance.
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