Two of the leading stocks in the aviation and infrastructure sector on the Athens Stock Exchange, Athens International Airport (AIA) and Aegean Airlines, continue to be influenced by the recovery of tourism, infrastructure expansion, and geopolitical challenges.
AIA is trading just above €10 with a market capitalization of approximately €3.2 billion, while Aegean Airlines is trading just above €12 with a market capitalization of approximately €1.1 billion. Both companies are performing steadily, with AIA relying on stable revenue from fees and Aegean on high flight load factors, despite pressures from fuel costs and geopolitical uncertainty.
Analysts have a neutral-to-positive outlook, focusing on passenger traffic growth and efficiency.
For AIA, results remain strong thanks to passenger growth and expansion projects. The average target price set by analysts is €10.65–10.72, with a small upside potential of about 5% from current levels, and a neutral recommendation from 10 analysts.
The highest estimate is €11.75. The company has implemented dividend reinvestment programs, and the outlook for 2026 remains positive due to tourism. Earnings after taxes stood at €18.9 million in the first quarter, down by €7.3 million, as expected, so that the results of aviation operations on an annual basis remain in line with the regulatory framework, following the exhaustion of the carried-forward amount.
For Aegean Airlines, despite challenges in the first quarter with increased losses due to seasonality and fuel costs, management anticipates a recovery in the summer. The average target price from analysts is €16.06 with upside potential exceeding 30%, with an average “buy” recommendation (high estimate at €17.30–17.50). The dividend of approximately €0.90 yields a dividend yield of 7.4% and is particularly attractive, while the company maintains a strong market position.
The technical picture for AIA and Aegean Airlines
For AIA, on the daily chart, the picture is neutral overall. The stock is trading in a narrow consolidation range around €10.10–10.20 following a recent stabilization. Key support is at €9.96–10.00 (recent lows) and first resistance at €10.27–10.35. The RSI(14) is near 50–55 (neutral), and the MACD is slightly neutral or slightly positive.
On a weekly basis, the trend is cautiously bullish. A break above €10.35–10.50 would trigger targets toward €11.00, while a break below €9.90 would put further pressure on the stock.
The AIA chart
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For Aegean Airlines, on the daily chart, the picture is also neutral, beginning to “turn” toward a buy signal, with stronger momentum recently. The price has rebounded from its lowsand is trading near €12.10–12.37, withinitial support at €11.70–11.95 and resistance at €12.50–12.80.
The RSI(14) oscillator is at 55-60 (neutral to positive) and the MACD is positive. On a broader timeframe (52 weeks), the stock shows signs of recovery. Staying above €11.90 maintains the bullish scenario with targets at €13.50–14.00, while conversely, a break below €11.50 would be a warning sign for investors.
Overall, both stocks present a stable technical picture with a neutral-to-bullish bias, while fundamentals (tourism, dividends, infrastructure projects) support long-term upside. Passenger traffic trends, fuel costs, and the geopolitical situation will determine the next move.
The Aegean Airlines chart
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* The above article does not constitute an investment strategy recommendation regarding financial instruments or issuers of financial instruments and does not contain any opinion regarding the current or future value of financial instruments. The information and opinions in this article are provided for the reader’s information only.