Team size: Seven

Which recent political, economic, or regulatory changes have impacted the company and the team the most?

There is no doubt that the Pandemic Covid-19 impacted mostly Fraport Greece and consequently the legal team in many respects. As an example, in 2020 passenger traffic decreased by approximately 70% compared to 2019, a situation that put enormous strain on the company’s financial position, especially considering that the company had just completed a huge investment of approximately EUR 450 m on the renovation and expansion of the 14 Regional Airports. The legal team had to work long hours mainly from home due to the lockdowns, in order to find legal solutions that would enable the rebalancing of the company’s contracts with the Greek State, suppliers and customers while the last step is of this process is imminent with the refinancing of the company’s loans. 

In what ways do you see the in-house legal role evolving in your region over the next few years?

Management understands now that the in house legal counsel is not a middle person between the company and the external counsels or simply a gate keeper, but instead a powerful weapon that can deliver highly specialised support in all company’s functions and help the company to achieve difficult business objectives and gain competitive advantage. Of course recognition comes with challenge and the legal counsel of today must understand business and financial objectives, work with spreadsheets, legal databases and emails and have strong communication skills. 

How has the increasing consciousness of climate change and sustainability affected the company and the team’s priorities?

There is no doubt that climate change has raised awareness in environmental matters in the aviation industry. Fraport Greece is a new company which is obliged from the start to follow an Environmental and Social Action Plan (ESAP) and highly values environmental protection. For this reason one member of the legal team is closely monitoring environmental compliance and works on a daily basis with our environmental engineers. There is no doubt that the aviation industry, which is renowned for innovation and adaptability, will rise  to the challenge of zero emissions very soon in order to safeguard the unparalleled freedom to travel the globe that has provided to all of us the last 20 years.