The privatization of 14 regional airports in Greece has been finalized with the signing of the agreement between the Fraport AG/Kopelouzos Group joint venture and the state privatization fund TAIPED.
“We signed the deal today,” the head of Greece’s privatisation agency (HRADF), Stergios Pitsiorlas, told Reuters.
According to the agreement, the joint venture will operate the 14 airports for 40 years as of autumn 2016, at which point it will make a 1.2 billion euro payment.
Fraport and its Greek partner, energy firm Copelouzos, has agreed to pay annual rental fees of about 23 million euros in popular tourist islands, including Corfu and Santorini.
330 million euros for refurbishment
The consortium said in a statement it will invest a total of 330 million euros to refurbish facilities by 2020.
In 2014 the 14 regional airports serviced 22 million tourists, while in 2015 the figure is expected to exceed 23 million. About 77% of arrivals are from abroad.
Of the 14 privatized airports, 3 are on mainland Greece at Aktio, Kavala, Thessaloniki, while the other 11 are on islands: Kerkyra, Chania, Kefalonia, Kos, Mytilene, Myconos, Rhodes, Samos, Santorini, Skiathos and Zakynthos.
It is Greece’s leftist government first big privatisation deal
