Maria Cosma – GC Powerlist
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Greece and Cyprus 2024

Transport and infrastructure

Maria Cosma

Director of legal affairs and secretary to the board of directors | Hermes Airports

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Greece and Cyprus 2024

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Maria Cosma

Director of legal affairs and secretary to the board of directors | Hermes Airports

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?

An in-house legal counsel of an airport operator must develop a thorough knowledge of all the functions of the airport and its stakeholders as well as of the aviation industry – beyond the legal and regulatory requirements – as well as an understanding of the organisation’s strategy, objectives and financial considerations. This is even more important when managing legal aspects during periods of instability or crises. At such periods, you need to perform a thorough risk assessment to identify potential legal issues that may arise and prioritise them based on their potential impact on the organisation, monitor any legal changes or developments that may impact the organisation to ensure that the business continues to comply with all applicable laws and regulations and to provide guidance on any legal obligations that must be met, be prepared to adapt legal strategies and quickly address new legal challenges as the situation evolves and clearly communicate legal implications, risks and compliance requirements to ensure that the legal strategy aligns with the organisation’s crisis response and overall business strategy. Maintaining open lines of communication with senior management, other departments of the organisation, key stakeholders and regulatory authorities and being available to address issues, provide legal guidance and offer support, is key to ensuring that legal advice is integrated into the decision-making processes and that legal risks are effectively managed. When providing legal advice, I always consider how my recommendations align with the organisation’s strategy, objectives, financial considerations and risk tolerance as the legal strategy should support and enhance the organisation’s strategy and goals, rather than hinder them. Our legal strategy involves, among other, keeping up to date with any legal changes or developments that may impact the airport or the organisation, providing legal training to employees on relevant legal issues, building relationships based on trust and cooperation for achieving effective communication and collaboration with other employees and stakeholders and maintaining a high level of professionalism and integrity in our interactions, thus achieving alignment with the broader business strategy to ensure the organisation’s resilience.

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?

Our company has been developing sustainability initiatives for several years with respect to the environment encompassing a wide variety of areas, including energy efficiency, waste management and carbon reduction. Hermes Airports was among the first European airports to commit to the goal of reaching Net Zero carbon emissions by 2050. Similarly, we have been implementing numerous initiatives under the social and economic pillars of sustainable development. During the recent review of our company strategy, sustainability was added as one of the seven strategic pillars on which our strategy will focus, emphasising the increased significance we assign to this part of our strategy. We have developed a structured Sustainability Strategy with a co-ordinated action plan that is being monitored and assessed on an ongoing basis through the structures set up by the company.

The general counsel plays an important role in integrating sustainability into the company’s overall strategy and operations by providing legal advice and guidance to ensure compliance with all relevant laws and regulations (such as those related to air quality, noise pollution, waste management, anti-competitive behaviours, human trafficking and other sustainable issues), assisting in the development of clear policies and procedures that outline the company’s commitment to compliance and sustainability, reviewing contacts with third parties ensuring that sustainability commitments are included and enforced, conducting due diligence in order to identify any potential liabilities or risks associated with sustainability practices and fostering a culture of sustainability within the organisation.

Maria Cosma - Greece and Cyprus 2023

Senior manager legal affairs and company secretary | Hermes Airports

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