Fraport-Copelouzos has been selected by the Hellenic Republic Assets Development Fund (HRADF) to manage concessions for 40 years at Aktio, Chania (Crete), Kavala, Kefalonia, Kerkyra (Corfu), Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki – Greece’s second largest city – and Zakynthos.
The total purchase price of €1.23 billion will be paid by the time of closing, and is expected in the autumn of 2015, and will see Fraport AG hold a majority share in the consortium.
Against strong international competition, Fraport and Copelouzos delivered a convincing bid to win the privatization tender for these Greek airports.
Fraport AG’s executive board chairman, Dr. Stefan Schulte, expressed satisfaction with this latest new expansion of the company’s international portfolio: “The Greek regional airports add another airport investment with dynamic development potential. The choice for 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 new owner, the Fraport-Copelouzos consortium will be responsible for maintaining, operating, managing, upgrading and developing the 14 gateways of international tourism until 2055.
The founder and chairman of Copelouzos Group, Dimitris Copelouzos, stressed the project’s importance at the local, national and international level: "Modernization 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."
According to the UN World Tourism Organization (UNWTO), the number of international tourists visiting Greece grew by 17% in the first half of 2014, and last year It welcomed 18 million international tourists (up 16%).
The tender to operate airport terminals is part of the country's privatisation programme, following a €240 billion EU/IMF bailout, and the Greek government has signed privatisation deals worth about €5 billion since it was bailed out four years ago, raising about €3 billion in cash.