The  “Loula & Evaggelos Nomikos Institution” established at 1979 by the shipowner Evaggelos Nomikos, who payed down all the costs for the Cable-Car's purchase and installation. The founder, among a lot of donation to Santorini, studied the native and tourists transportation trouble and decided the offer of the Cable-Car, one of the most important tasks for the development in Santorini.

Since its foundation, the Institute's revenues are given for public tasks. In belongs to the Municipalities of Thira and Oia-Thirassia and works as aperfect self-management model.

Everything without ignoring the mule-drivers, who have so much offered during these years. The Institution supports the mule-drivers donating them, in order to keep this traditional transport model.