Brussels bureaucracy has led to the 20-year contract extension of Athens International Airport grinding to a halt. The conclusion of the transaction has not only failed to meet the original deadline of end-2017, but it will also require another four or five months.
This means that besides the payment of 251 million euros to state privatizations fund TAIPED and another 117 million to the Finance Ministry in value-added tax, the beginning of the process for the sale of a further 30 percent of shares in AIA has also been delayed.
That procedure was scheduled to commence in March, but this is no longer seen as possible, given that the 20-year extension contract has been stalled by the European Union’s competition authorities. The Commission’s Directorate General for Competition (DGComp) is constantly asking for additional information regarding the new contract, focusing mainly on the legal basis on which the concession of the airport was extended by 20 years without a tender but through a direct concession. In practice Brussels is examining whether AIA has received a state subsidy.
Sources familiar with the process stress that the Greek authorities have underestimated the inspection by the Commission.
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons Copyright: Leonid Mamchenkov License: CC-BY-SA
Source: ekathimerini.com
