The EU executive has authorized Greece to extend a concession granted to operate Athens International Airport (AIA) by 20 years for 1.1 billion euros ($1.25 billion), it said on Wednesday, according to Reuters.
“The [European] Commission has found that the 1.1 billion-euro fee that will be paid by AIA for the 20 year extension of the Athens airport concession corresponds to a market price,” Europe’s Competition Commissioner Margrethe Vestager noted in a statement.
Greece’s privatization agency announced earlier this year that it had accepted the offer by private shareholders in AIA to extend their concession for operating the country’s largest airport until 2046.
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