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EU Agrees to Olympic Airlines’ Privatization

The European Union last month gave its consent to Greece's plan to privatize the Greek carrier Olympic Airlines next year, but said the airline must pay back 850 million euros in illegal state aid it received between 2005-2007.
Posted On 01 Oct 2008
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Plan for Privatization of All Greek Airports

The interministerial committee for denationalization last month gave the 'green light' for the utilization of regional airports by private investors.
Posted On 01 Oct 2008
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Theme Park Planned for Lavrion

The plan to construct a theme park in Lavrion, which will resemble the City of Arts and Sciences in Valencia and the city Lijiang (Yunnan province in northern China), was recently approved by the town's municipal council.
Posted On 01 Sep 2008
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Second Phase for Anavyssos Tender
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Second Phase for Anavyssos Tender

The tender for the exploitation of the property at Alikes in Anavyssos is currently in its second phase with three contenders in this stage. These are the consortium of Lamda Development, Reds and Lampsa S.A. (the hotel Grande Bretagne), the Steggou Group with Porto Carras Casino...
Posted On 01 Jun 2008
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Samos Airport
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Greek Airports Receive Aesthetic Improvements

The Hellenic Ministry of Transport and Communications (YME) and the Tourism Development Ministry held a joint press conference recently to reveal the process to aesthetically improve peripheral airports in Greece following a memorandum sent to YME by the Association of Tourist...
Posted On 01 May 2008
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New Tourism Investment Infrastructure Interest

According to local press reports, foreign investors and large foreign enterprises are targeting some of the most important Greek ports and all airports, expecting that the country's tourism development will continue and expand, in particular into the winter season.
Posted On 01 Apr 2007
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Foreign Investors Plan on Three Billion Budget

An association representing foreign investors has teamed up to deal with Greek government bureaucracy and convoluted regulations that both stall and dissuade investments in large tourism projects.
Posted On 01 Oct 2006
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Investors Pressure Government for New Golf Legislation

A group of foreign real estate developers recently formed an association that aims to pressure government to revamp a golf course development law. The president of the Association of Foreign Investors in Tourism, Clemente Pinedo, says foreign investors thus far have steered clear...
Posted On 01 Aug 2006
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Tender Called for Galileo Hellas Sale

Government and its consultant firm, Lazard, along with three banks (National, Emboriki, Alpha), published a call for tenders last month in foreign financial papers for the sale of Olympic Airlines' subsidiary company Galileo Hellas.
Posted On 01 May 2006
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Crete Plans Construction of New International Airport

A new international airport costing more than 1 billion euros will be built on Crete, according to a government announcement. The new airport will be able to serve 5,000 holidaymakers at a time and will also serve as a transport hub for air cargo in the eastern Mediterranean.
Posted On 01 Mar 2006
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Tourism Properties Turned Over to Private Investors

A number of properties of the Tourism Development Company are soon to turned over to private enterprises through long-term leasing agreements, and thus bring some much-needed coins to the state.
Posted On 01 Aug 2005
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International Investor Sees Tourism As Greece’s Only Economic Engine

The Greek economy can advance and prosper in the international environment only if it develops itself to cater to up-market tourism and wealthy foreigners wishing to acquire holiday homes, said well-known investor and American fund manager, George Soros, during a recent visit to...
Posted On 01 Aug 2004
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Olympic Airways Speeds Up Privatization And Gets Funds For Spata Move

Olympic Airways will relocate to the new airport at Spata come March next year following approval from the European Commission for the diversion of funds intended for plane purchases.
Posted On 01 Dec 2000
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