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Greece to extend Athens airport concession in June - report
May 26, 2017 / 3:35 PM / 6 months ago

Greece to extend Athens airport concession in June - report

ATHENS, May 26 (Reuters) - Greece is expected to reach a deal with shareholders of Athens International Airport next month to extend a concession for the country’s biggest airport by 20 years, a Greek newspaper reported on Friday.

Greece’s privatisation agency holds a 30 percent stake in the airport, with the government owning another 25 percent. The rest is held by German-based airport manager AviAlliance and Greek group Copelouzos.

Under a third bailout signed with the European Union and the International Monetary Fund in 2015, Greece promised to renew the agreement with the private shareholders, allowing them to operate the airport until 2046.

The airport will submit an offer to the country’s privatisation agency for the extension in a few days and the final agreement is expected to be signed in June, Kathimerini newspaper said, citing unnamed sources.

Greece and the airport are expected to wrap up the deal by October once they secure European Commission and Greek lawmakers’s approvals, with Athens hoping to raise 500 million euros upfront, the paper said.

The privatisation agency declined to comment. (Reporting by Angeliki Koutantou; editing by Alexander Smith)

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