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Athens Airport Management Plans to Invest €400m in Upgrades

Weeks after the Athens International Airport (AIA) concession to run the country’s largest airport for the next 20 years received the green light, the country’s privatization agency TAIPED is expressing intentions to sell its 30 percent share in AIA in the first three months of 2018.

At the same time, according to reports, AIA’s operator is planning to put 400 million euros into the upgrade of the airport – also known as Eleftherios Venizelos Airport – over the next five years in view of the surging numbers of travelers visiting Greece and AIA’s key role in boosting the Greek economy.

Plans include expanding Terminal 1, extending the non-Schengen passport control area, creating a new sheltered parking space as well as constructing a budget hotel in 2018. Due to AIA’s expansion, road networks as well as relevant infrastructure is expected to be put into place by 2026.

Meanwhile, TAIPED’s share is set to sell for 600 million to 1 billion euros, according to market insiders.

Reports mention that parties expected to express interest are Canadian PSP Investments, China’s Shenzhen Airport Group and Kopelouzos Group, which is also involved in Fraport currently running 14 regional airports across Greece.

Jointly held by the country’s privatization agency TAIPED together with the government (25 percent), PSP Investments and Greece’s Copelouzos Group, AIA SA will operate the airport until June 11, 2046, by which time it is slated to have completed 2.35 billion euros in investments.

Read also:  Greece Tourism Revenues Still Lagging Despite More Visitors

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