Emm. A. Gyzis

Emm. A. Gyzis

EMMANUEL A. GYZIS, born in Athens, Greece, 13 January 1947; admitted to Athens Bar Association 1974. Education: University of Athens, Law School (1972), London, (L.LM. 1980), specialized in Aviation Law and originally worked in the respective field on behalf of British Tour Operators and Charter companies. Currently studying for his MBA from the European University Cyprus

With longstanding journalistic and writing activity, his articles have been published in financial newspapers and magazines specialized in Aviation and Tourism. Author of pioneering monographs on the development issues of Olympic Airways (1989), he has published during a course of many years, a series of articles regarding its viability, its position in the international environment, as well as for other private airlines in general, while at the same time he participated in relevant International and Greek Conferences and Organizations. Successful and long-term engagement with issues regarding private airports / heliports, Low Cost Carriers (LCC), Aircraft Fractional Ownership, Ground handling matters. At his law firm “EMM. GYZIS AND ASSOCIATES”, together with a group of specialized associates he deals mainly with aviation law issues (cooperation with construction companies for commercial aircraft and leasing companies) and tourism law issues, specializing in mass tourism from/ to Greece and occasionally cooperating with Tour Operators. Since 1993, he has founded a number of Greek and foreign airline companies, on behalf of his clients, in accordance with the applicable legal status. He has participated in committees for the drafting of legislation regarding air transport, such as private airports, the Presidential Decree for private heliports and the Basic Legislation of the Aviation Code and he is the General Secretary of the Hellenic Aviation Society. For many years, he has been studying emerging markets, as a consultant for foreign companies, which plan to invest worldwide.


MEMBER: Athens Bar Association, International Bar Association, European Society of International Law (ESIL), American Society of International Law (ASIL), British-Hellenic Chamber of Commerce, Greek-American Union, Hellenic Aviation Society.

PRACTICE AREAS: Aviation Law, Aerospace Law, Tourism and Transport Law, (European) Commercial and Company Law. Arbitration. Establishment and Operation of foreign companies in Greece. Project Finance. Free Movement of Capital. Privatization. Foreign/ Hotel Investments. Mergers and Acquisitions.

E-mail: egyzis@egyzislaw.com

Tuesday, 15 May 2012 19:14




Top convergences and divergences in sensitive geopolitically areas - how and why?



Emm. A. Gyzis and Associates Law Firm


"2nd Greek Conference: The Air Transports of today and tomorrow"

Athens, A.I.A. building 17, 09 & 10 May 2012




  1. Following the European turnaround of the merger with OLYMPIC – AIR, these companies proceeded to redistribution of networks, trying to survive.
  2. In the current phase of its operations, Aegean flies to 33 destinations in Greece and abroad.
  3. On the same time it cooperates in code share with its largest informal partner, the German Lufthansa, and also TAP PORTUGAL, Brussels Airlines and BM1 and other STAR ALLIANCE companies, in general, to: HAMBURG, ABERDEEN, AMSTERDAM, BERLIN, HANNOVER, BELGRADE, DUBLIN, EDINBURGH, COPENHAGEN, LISBON, MANCHESTER, BELFAST, NICE, OSLO, CHARLOTTE, SOFIA, STOCKHOLM, TIRANA.

3.1. Of course to America with UNITED and U.S. AIR.




  1. Mainly abroad, retaining some domestic flights.These considered as, (maybe arguably), first class.
  2. Is Thessaloniki included in these? How is the co-capital dealt with?
  3. Basically as a "stop over" for abroad flights?
  4. Maybe Cyprus and OLYMPIC AIR squeeze AEGEAN's ability for domestic flights only? and by when?
Thursday, 26 April 2012 06:10

Thessaloniki And It’s Mayor


 -The critical routes of Tourism in North Greece-


Actually, two (2) years ago, the co- capital was at its lowest regarding Tourism.

The rise to power of Mayor JOHN BOUTARIS marked a new era of ideas, actions and operations development.

Of course not always of a positive outcome, but nevertheless radical.

The Mayor knows how to “crack eggs”, without which no “omelet” is made.

Of course the ¨conflict” with the conservative tactics creates many risks for a Public personality.

Without though such efforts, the city would have been dead to date.

Regarding TOURISM, of course, as this is the main focus of our article, hotels have higher occupancy this year.

The success of holding a global Medical Conference this season, with the participation of 3,000 doctors, provides the “measure” for the positive response of the “targeted TOURISM ¨.

When at this time in Athens, regardless of other causes, there is no possibility for holding a medical or any other massive Professional Conference, the magnitude of this effort and of the Mayor’s success is well understood.

The opening up to L.C.C. (low-cost carriers), is also of a great importance for the TOURISTIC Thessaloniki.

The massive of its air connection with many European Cities, with extremely competitive rates, creates great potential for a TOURISM accession.

Of course, under certain conditions.

Because such a move may prove to be a “boomerang”.

Parallel efforts also take place with the Turkish Airlines and the disposal of the neighbors for an unbreakable connection with this main City.

And also the optimization of the Tourist traffic in both directions.

There are many questions at this point.

Nobody is opposed to this kind of TOURISM, the air link, which may also bring changes at the Legal and Institutional framework of the TOURISM LAW.

But is this just what our neighbors have in mind, when attempting such trade or Tourist openings in Thessaloniki, which is the real geopolitical northern axis of Greece?

We doubt very strongly and we are puzzled over it.

This needs caution.

Since the growth numbers of TOURISM is required to be “read” broadly.

Because they are not, nor should be, an “aim in itself”.

Do we really “see” behind those numbers, or do others see “further”? This is a crucial question, seeking for a reliable answer on time.

I.T.B. Berlin - March, 07-11, 2012

Professional Messages: ¨UP GREEK TOURISM¨


This year’s I.T.B., a tourist exhibition of global range, to which approximately 200 countries worldwide participate, showed its main leading presence.

Messages about the state of tourism on an international scale.

Messages on the financial data which affect Tourism in each country.

Messages about hope, messages also regarding unpleasant thoughts and perspectives.

Key finding is the partial shrinking of the presence of large companies at the exhibition. Although they know its great value and influence.

While at the same time conclusions at a smaller scale are drawn. These concerning Greece.

Primarily, our ¨picture¨ there was dramatically poor. This is not just about the overall quality of the stand and the other parameters, but basically about the influence reflected by the presence of Greece in this exhibition.

Fragmentary, and with superficial targets, we tried again, once more, to sell the standardization.

We are interested in numbers, to impress, to attract tourists regardless of their quality.

Away from the true targets.

Those to which Greek Tourism should be directed, ie:

Quality targeting

Real improvement in services

Long- term attracting in alternative ways of Tourism

Adequate decentralization of Tourism

Qualitative upgrading of tourists aiming to visit our country

Stable and permanent improvement of the legal framework of Tourisminvestment in our country.

Without any dummy organizations, which do not perform any piece of work eventually.

Tourism law should be upgraded decisively.

Infrastructures need direct and continuous quality control.

The public tourism entities, as G.T.O., the Ministry of Culture, the Tourism Ministry, need managers and not politicians and parliamentarians.

The outward image of the hierarchy of our Tourism should be long-term stable. If there is a politician who knows this “area”, he is welcome. But if he is asked to “learn” as a hobby, Tourism is not the proper sector for ordinary not professionals.

The development of a National Tourism Policy, the restraint of the 4 -5 giant Tour Operators, which must cease to oppress the Greek Tourism, are the key goals and “pillars”.

Progress without, balanced advertising, stable trust relationships with true professionals, who can give quality standards to the Greek Tourism product.

Our competitors, with continuity and consistency, highlight their comparative advantages and give “value for money”.

They create dynamic Lobbies, which become constant and effective levers to promote.

The case of descent of the Tourism product and development of the dominant of tourism, Spain, should be estimated.

To be a “case study” for us, to avoid the same mistakes.

The findings of the Tourismdecline of Greece are objective and based on a long international observation of the tourist “proceedings” worldwide.

So, British are at (-25/30%) lower. Germans show a similarly large decline of (-30%) for Greece. At the same time, they organize events in support of the Greek Tourism. Why is that?

Is it because dozens of German interests hotel units will stay empty?

Or maybe because they are preparing Greek Hoteliers so as to be forced to reduce more their prices?

Who will protect Tourist Greece from the attack of the organized economic Tourist War?

Which, nevertheless, lacks true professional will, mainly at the public sector?

Which central policy, wants Greek Tourism to be spineless player of Tourist field?

How we will succeed to increase the participation of our foreign travel currency to our GDP?

Infrastructures, modern and dynamic Tourism Law are needed.

Tourism Law and Tourism Legislation with financial incentives to investors.

A Tourism Policy having long term perspective.

Consistency between words and deeds. Actual cultural and simultaneously human approach of people, their culture, attitudes, behavior, and of the interaction in lifestyle and its upgrading.

Our country’s real competitors are not Turkey, Spain, Portugal, Italy, Egypt, Tunisia, France, Britain and other major tourist destinations Trans – European and Intercontinental.

Our sole opponent is ourselves and our mentality.

Even the State is an opponent.

A looser, who refuses to understand, that the Political Section should stop, without any further delay to “play” with the true Tourist Future of Greece.

Game is over? Fortunately not.

As, those days in Manhattan’s Centre, (New York), a road Giga screen, (donation of Greek-Americans), is advertising Greece.

Let’s use the same slogan:


Wednesday, 07 March 2012 16:03

Cyprus Airways


- Commercial war with Aegean & Olympic, in Greece.
- A Cypriot business game


The surprising announcement, by Cyprus Airways, of carrying the trade war with the two (2) major Greek airlines within Greece, bears multiple messages.

So, the beginning of three flights daily from Athens to Thessaloniki with a low fare, since the 26th March 2012 (v/v), will become a “double – edged sword” project.

The one or more aircraft needed by Cyprus will be in disadvantage, as operating outside their country.

With what this means for crews, the aircraft itself, landing fees and handling at one of the most expensive airports in Europe, and their daily technical monitoring.

All above are against low fare.

And if the ¨load factor¨ is high, then, the ¨per seat cost¨ will show minor damages.

But if, is below 75% per leg, then the company will show damages.

For how long can it suffer something like that Cyprus Airways?

And why did it decide something like that?

There are various explanations for this.

The first one is that, in view of the company’s privatization, the Government of Cyprus wants to increase, with this route, the value of its under sale, (70%), participation, in it’s capital

The second one is that, Aegean και Olympic may start a purchase offer procedure, in order to “take out” a real future competitor from their territory

For many years Cyprus is operating the route Heraclion – Rhodes, and its load factor is medium to very good. Therefore it has experience of domestic flights in Greece.

It lacks though the experience of the Athens Airport.

It seems that it hopes not to pay extremely high for this experience, as there are several ways to reduce slightly the costs of El. Venizelos.

To combine slots, whereby each aircraft may have overnight, (hub), in S.K.G. airport. To pay low ground parking fees.

To find some solutions for it’s crews to avoid their continuous movement.

This Commercial war against Aegean and Olympic must be short.

Till the Government of Cyprus will estimate the company’s Commercial value.

As now it’s no possible to count any offer reg. the 70% of their owned shares.

On the other hand, the company’s fleet is under a very difficult operation structure.

The route network is not properly distributed.

The “alliances” of the company are not enough strong.

The company is now trying to “build” its new international ¨Profile¨.

It is “marked” by the medium business effort of Hellas-Jet, and it’s charter company

Moreover, the Civil Aviation Authority of Cyprus, is at a ¨young age¨.

This has been shown many times till now.

Another present handicap strangely following Cyprus Aviation Field.

Which has not yet acquired the experience of the sophisticated British Civil Aviation Authority.

Although has collected from the British, many of their advantages in other areas.

So, this operation is a ¨gabling¨ in Greece. Hopefully it will not regret it.

Of course the big Winner from that war may be the PASSENGER.

The same, who damaged daily from this “informal oligopoly, in Greece.

By paying to fly Ath-S.K.G., or Ath.– Santorini, (v/v), more expensive fares than to the most Trans – European destinations.

Glorifying the ¨competition committees¨, which ¨look¨ selectively the monopolistic policies.

Regarding the finalization of the deadline for the submission of binding offers from the seven remaining business consortiums, that is September 30th 2014, our skepticism is actually justified.

The new leadership of the worn out TAIPED is currently before the competent committee for approval, after the vacuum left by the previous one, which was universally acknowledged as objectively lacking in work, as proved by their fiscal goals in relation to the results obtained this far.

Who can place a bet now that on 30/09/2014 there won’t be a new deadline deferral?

Because the objectives remain on paper for years and years.

But the privatization of the 14 Hellenic regional airports is an extremely important priority for the Hellenic Tourism and in this case, the country’s credibility is dangerously depleted.

Monday, 09 June 2014 09:33

Emmanuel A. Gyzis interview on SBC TV

Emmanuel A. Gyzis interview on SBC TV (part one)


Emmanuel A. Gyzis interview on SBC TV (part two)

Tuesday, 07 February 2012 19:33

CHINA … and its prospects in civil aircraft

"Published in Air Transport News on February 2012

CHINA … and its prospects in civil aircraft.


It is true that during these last ten years Chinese Industry has managed to emerge from obscurity.

The Chinese, keeping a very low profile in research and having studied properly the Western Technology, respond dynamically at this field.

¨COMAC¨ is the main innovative company, which is founded, created and managed for many years by one of the top ten Chinese businessmen. ZHANG QINGWEI. Who is the ¨think tank¨ of this incredibly dynamic country/ continent and gave strong push to China, in Civil aircraft.

It's been a few years since Bombardier Aerospace of Canada with the contribution of the local industrial background, has founded factories for the assembly of certain types of its production.

The low labor cost, the lack of strikes, the faithful implementation of the production plan and therefore the quality of the product, gave the Canadians a great advantage for some time.

Jet aircraft of theirs, for medium distances, were manufactured in China at the 1/3 of the cost of Canada.

This of course together with the inexhaustible ability of the Chinese to ¨focus¨ in ¨learning/absorbing¨ the Western technology, brought realistic results.

The wholly Chinese jets appeared to assert claims to shares at the fleets of the Chinese Air Carriers. To control the Chinese Skies.

This phenomenon gives a strategic advantage to their Airline industry. This vast country has increasing aircraft needs.

The rate of airports' construction grows rapidly, and the long distances need quick access – link.

The income of the average Chinese has an ascendant course, but maybe slower than this of some Western economies. However it is rising steadily, in numbers relatively unknown to Europe.

When the GDP of China is ranging for many years from 10,5%-12% per year. Also Americans believe that this will fall to 8,25% in 2012. These are uunthinkably high rates for the western economies.

The alliances between the Chinese and the Western Airline carriers and intercontinental, strengthen the Chinese passengers.

Considering the future of Air Transport and Aeronautics, China goes on with strategic and plan in the 21st century of Civil Aviation

With deep dynamism it has created the Asian alliance CACC, (Commercial Aircraft Corporation of China), confederating countries of the continent that seemed to be irrelevant with each other. And is trying harder for bigger ASIAN alliances.

Both the participation of China Airlines at the ¨Star Alliance¨ and of the China Eastern and China Western at the ¨One World¨, gives its own messages.

As, besides the Benefits that the Chinese companies derive of these two Western Alliances, at their networks, they also gain for themselves and "build", ¨know how¨, from this Alliance.

They improve the costs of each grade, the quality of their services. They discover the ways for their own "future".

When the time comes, the ¨Chinese Giant¨ will give its own "business message", to the air transportation of passengers, as well as to the networks, the composition of the fleet, and the aircraft types.

That's why it is going on buying continuously BOEING and AIRBUS.

As shortly Chinese aircraft, even bigger than 787/8, (Dream liner), and Α 380, will start to be constructed by completely Chinese Technology.

Regarding the engines, (apparent from HULL), it is certain, that the Chinese will teach lessons in high technology in West.

We can assume that, considering their infrastructure at this field, they will build 100% Chinese engines for long distances, safe, economical, reliable in every test.

Perhaps they are already building them, since they have considerable expertise for small distances engines'.

Sooner than many imagine.

How will Mega-Manufacturers of West, will react?

Because the parameters are variable. The Battle is great.

The Industry "war" is greater.

Keep our fingers cross.

Friday, 20 January 2012 07:19

Alliances of the……. Skies

Published in Air Transport News on January 2012.





The circumstances that prompted the Airlines worldwide to participate in successive cycles of alliances are substantial and important.

Especially because of the current critical economic situation, which sways dangerously any kind of company on our Planet, the causes not only for mergers of companies but as well of their “grouping” have been imposed objectively.

The leading figure today in numbers but also in routes’ volume is certainly STAR Alliance, since its departures rise to 21.000 daily.

It consists of 28 members, (total fleet: 4.023 aircraft), among which prominent are AIR CANADA, United, Singapore, THAI, Lufthansa, Turkish Airlines, AIR CHINA, but also of their dependent subsidiaries.

Currently the war takes place in Latin America where STAR, fighting with ONEWORLD, the second most important of the three totally major alliances, tries hard to attract to its group the South – American emerging giant, which will soon come from the Chilean LAN and the Brazilian ΤΑΜ, named as ¨LATAM¨.

At the time being, each one of them belongs to a separate alliance. But they must choose the soonest possible the same team.

We believe that STAR Alliance, will prove the winner of this “Star Trek” war, because the major partners of ONEWORLD, which are Iberia, and British Airways, have a network that competes with the network of LATAM.

Therefore the further geopolitical development of LATAM, dictates this evolution.

Unless the criterion of ¨sharecode¨ alliance dominates, as being the strongest in our times, especially regarding the labor cost and the ever rising oil prices.

Then ONEWORLD will be the winner.

Great of course is the battle for the Chinese partners and the Japanese or the Indian giants of the skies.

Of course SKY Team, being the third player globally, while KLM and KOREAN AIR lead, drastically improves its position today.

On the top China Southern και China Eastern, gave to “SKY Team” a dynamic upward and competitive course.

Nevertheless, the crucial point that will reconfigure the position of each alliance, is their effective ability to share, among other things, profits by joint check-in, at the airports worldwide.

For the passenger, of course, “share code” has small advantages.

Good prices emerge, if you have time and patience to change plane at the ¨stop overs¨.

Why not to travel with L.C.C., (Low Cost Carriers), especially when traveling at the same Continent, which certainly have much cheaper fare? And when your criterion is not the comfortable ¨ pitch¨;

Now those airlines that have remained globally independent without entering any alliance, how do they plan to compete?

The most of them which are remarkable, consider always the possibility of their integration such as AIR-INDIA, without counting R. Branson and other private Indian operators who consider positive the alliances.

On the other side, the new long-haul aircraft, particularly the AIRBUS-A380, that can reach up to 800 seats in ¨Υ¨ configuration, will minimize extremely the costs and will soon challenge practically the effectiveness of the alliances at a critical level.

Mainly in Trans Atlantic and/or Intercontinental routes.


The advent of low cost carriers for HUB of Salonika and beyond.

Truth and distorted reality- The parameters-



Emmanuel A. Gyzis

Emm. Gyzis & Partners Law Offices


“REGION, TOURISM AND AVIATION, Low cost carriers help to boost the Region?”

 Ixia, Rhodes, Rodos Palace hotel

October 21, 2011


The big questions about the added (alleged) value of the potential project of Salonika’s HUB


  1. The organized state, with a non- existent, in fact, Ministry of Tourism, is unable to help Tourism operators to establish an advantageous deal for the tourism in Northern Greece with the interested L.C.C. Why?
  2. Simply because there is no medium – long term planning.
  3. That planning under which the points/ terms to be proposed to the contracting companies will be explained to the region bodies, so that such an agreement will be beneficial for both parties and not unbalanced.
  4. But, is there expertise and sufficient willingness to do so?
  5. Currently, the substance parameters are lacking, and thus those for the objective accomplishment of the target.

The Consequences of a Possible Merger between Olympic Air and Aegean Airlines: A Business Marriage and at distance … Lufthansa


“Air transports of today and tomorrow”

Athens, A.I.A., b. 17, April 20th , 2010


The real or emerging causes

of the merger in terms of OLYMPIC AIR and AEGEAN


  1. The rush of transition from one regime to another, despite the complexity of the project, without the necessary time to study, in difficult times.
  1. The aircraft load factor which is rising with difficulty within the safety limits, combined with the expensive operation cost have caused visibly injurious operation, since both companies had exactly the same task, with a ruthless price war.
  1. The choice of a multi-type fleet at this time.
  1. The exclusion of Boeing which annulled the OLYMPIC Engineering expertise with impact to the maintenance.
  1. The market shares and the conditions for tested size of AEGEAN and no immediate further expansion – economies of scale.