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September 12, 2019

Greece approves sale of 30% stake in Athens International Airport

The Greek Government has approved the sale of a 30% stake in the Athens Eleftherios Venizelos International Airport, which is owned by the Hellenic Republic Asset Development Fund (HRADF).

The Greek Government has approved the sale of a 30% stake in the Athens Eleftherios Venizelos International Airport, which is owned by the Hellenic Republic Asset Development Fund (HRADF).

The announcement came after the decision was made by the Greece Governing Council of Economic Policy, following the recommendation of the Minister of Finance.

More than 40% of the airport is currently owned by the HRADF, which will carry out further privatisation processes for the facility.

Greece Minister of Finance Christos Staikouras said in a statement: “Our ideological and political position, is that we view privatisations as a development tool of the economy, provided that they are carried out in conditions of total transparency and ultimately in the public interest and not just as a means of raising public revenue.

“This is the first privatisation process of the current government. It is noted that the previous government had made a commitment to this privatisation, which of course never materialised.”

HRADF was instructed to immediately begin requesting offers for the airport, which began on June 28.

According to media reports, bids are being submitted by Kopelouzos Group and AviAlliance, which is controlled by the Canadian PSP group.

The Greek State has no direct participation in the stake of Athens International Airport, but indirectly owns 30% through HRIP and 25% through the super privatisation fund.

In January 2017, Athens International Airport attained carbon neutral status (Level 3+) certification from the independent carbon management programme, Airport Carbon Accreditation. It is the first Greek airport to have achieved this status.

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