Greece’s Economic Policy Committee (KYSOIP in Greek) approved the 20-year extension of the Athens International Airport SA (AIA) concession agreement during its meeting on January 21, according to press reports.
The approval paves the way for the finalization of the transaction, following a delay which caused concern to AIA CEO Yiannis Paraschis.
The new concession agreement was published in the Government Gazette and is now expected to be signed by Finance Minister Euclid Tsakalotos. Once signed, it is expected to be ratified by parliament next week and the transaction should be completed within 10 days.
AIA SA paid a total of 1.1 billion euros to TAIPED, the Greek privatization fund, for the 20-year extension of the Athens airport concession to 2046. As of January 1 is was fined with 330,000 euros a day for the delay of the finalization of the concession agreement.