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Fraport consortium wins tender for 14 Greek regional airports.

Fraport AG Frankfurt Airport Services Worldwide and its partner Copelouzos Group have been selected as the preferred investor for a 40-year operating concession by the Hellenic Republic Assets Development Fund (HRADF).

The contract covers 14 regional airports in Greece: including Aktio, Chania (Crete), Kavala, Kefalonia, Kerkyra (Corfu), Kos,

Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki--Greece's second largest city--and Zakynthos. Combined, these airports served a total of about 19.1 million passengers in 2013. The total purchase price of 1.234 billion [euro] (US$1.5bn) will be paid by the time of contract closing, expected next autumn. Fraport AG will hold a majority share in the consortium.

The company's Executive Board Chairman, Dr Stefan Schulte, expressed satisfaction with the latest expansion of the company's international portfolio: "The Greek regional airports add another airport investment with dynamic development potential. "The choice of Fraport underscores our position as a leading global airport manager. Our extensive know-how gained over many decades will contribute to expanding and strengthening the competitive position of the Greek regional airports."

As the new owner, the Fraport/Copelouzos consortium will be responsible for maintaining, operating, managing, upgrading and developing the 14 airports until 2055. The mainland airports include Aktio (IATA: PVK), Kavala (KVA) and Thessaloniki (SKG). The remaining 11 are on the Greek islands of Corfu/ Kerkyra (CFU), Crete/Chania (CHQ), Kefalonia (EFL), Kos (KGS), Mitilini (MJT), Mykonos (JMK), Rhodes (RHO), Samos (KGS), Santorini (JTR), Skiathos (JSI) and Zakynthos (ZTH).

Founder and chairman of the Copelouzos Group, Dimitris Copelouzos, stressed the project's importance at local, national and international level: "Modernisation of the airports will allow us, via reliable and safer transportation services, to further enhance Greek tourism continuously--thus empowering competitiveness of the local and national economies and generating new jobs. Our goal is to create airport gateways that meet the growing needs and expectations of the Greek people as well as visitors from around the globe."

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Title Annotation:HEADLINES NEWS
Publication:Airports International
Geographic Code:4EUGR
Date:Dec 1, 2014
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