Lucas Papaleontiou: Financial management is a critical pillar of operation of any business, let alone a country's airports

Financial management is a critical pillar of the operation of any business, let alone a country's airports, according to Hermes Airports’ Financial Controller, Lucas Papaleontiou.

In an interview with Flight Mode, Papaleontiou said that the investment made by Hermes Airports for the construction of the two airports was a huge investment, the largest made so far in Cyprus, and this requires special attention and monitoring of various performance indicators as well as constant updating of the economic model the entire investment was based on.

“The tendering process is an important part of our work considering that many of the services at airports involve contracts with third parties,” he explained. “Through a thorough and transparent process that involves the participation of all relevant departments of the company, we ensure the best partners are selected and that the interests of both the company and our passengers are safeguarded.”

Around this time of year, Hermes Airports prepares its budget for the following year, with all company departments submitting their business plans based on a broader strategy aimed at high levels of service to the passenger public and increasing the connectivity of the country, all while following an anthropocentric approach, said Papaleontiou.

“Along with financial management, we place great emphasis on sustainability,” he added. “Since 2010, we have implemented more than 95 projects to reduce energy consumption, while Larnaka and Pafos airports have recently been certified with Airport Carbon Accreditation level 4+.”

A year ago, Hermes Airports launched solar parks that cover 28% of its annual energy needs, while it has achieved a 33% reduction in energy consumption by replacing a large amount of old equipment with new, high energy efficiency equipment. “In 2025, we plan to expand our photovoltaic parks, so that we can achieve even more energy savings,” Papaleontiou revealed.

He concluded, “At Hermes Airports, effective financial management goes hand in hand with our commitment to sustainable development, ensuring that every investment and partnership contributes to the long-term success and sustainability of our airports”.

This interview first appeared, in Greek, in Flight Mode magazine. Click here to view it.