connect with us
Greece's latest tourism industry news by Greek Travel Pages (gtp)

Fraport Greece to Take Over 14 Greek Airports on March 15

German-Greek consortium Fraport Greece will officially take over the management of 14 regional airports in Greece on March 15, an official of the company told Reuters news agency on Wednesday.

The consortium of German transport company Fraport and Slentel (a unit of Greek energy Copelouzos Group) inked a 40-year contract in December 2015 with the Greek state to manage the airports at 14 regions across Greece that include three mainland gateways (Thessaloniki, Aktion, and Kavala) and 11 airports on Greek islands (Chania on Crete, Kefalonia, Kos, Mykonos, Lesvos, Rhodes, Samos, Santorini, Skiathos and Zakynthos).

Τhe 14 regional airports were expected to come under Fraport’s management this month. However, the takeover date was changed due to incomplete implementation of technical requirements.

“Greece and Fraport Greece have agreed that the implementation of the concession agreement is planned for March 15”, a Fraport official told Reuters, speaking on condition of anonymity.

The deal, considered a landmark privatization agreement, consists of an upfront payment of 1.234 billion euros and an annual payment of 22.9 million euros in lease payments for as long as the concession runs.

Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece.
About the Author
This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner.

Add your comment