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Order HereA consortium led by Germany’s Fraport—which won a 40-year operating concession for 14 regional airports in Greece in 2014—may have to wait until next year to close the deal. The consortium is in partnership with Greece’s Copelouzos Group.
Frankfurt-based Fraport will hold a majority share in the consortium, which won the privatization tender against stiff international competition. The purchase price of €1.23 billion ($1.53 billion) will be paid by the time of closing, which had been initially expected in the fall of 2015.
“Further talks are necessary, for example, between the Greek competition authorities and Fraport,” a spokesperson told ATW. “So far the agreement had not been signed. It is realistic that the deal cannot be completed this year.”
The Fraport consortium was selected as the preferred investor in November 2014. Due to changes in the Greek government, the timeframe of the project has been extended.
The concession was awarded by the Hellenic Republic Assets Development Fund and covers Aktio, Chania (Crete), Kavala, Kefalonia, Kerkyra (Corfu), Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos airports.
“This project is very ambitious and extensive. Not only because there are 14 different airports in which some we have to invest in the infrastructure, but also there is a strong seasonal traffic. Never the less, the airports are very attractive in terms of tourism (traffic),” the spokesperson added.
The 14 airports could create additional 19 million passengers for Fraport which is very active in airport investments outside Germany. The company has shares or operating concessions at 11 airports (outside Germany) for example in Lima (Peru) or Antalya (Turkey). “This business (in international airport projects) creates one-third of Fraport’s net income,” the spokesperson said.
Copelouzos Group is already involved in the management of Athens International Airport, and is partnered with Fraport in the Northern Capital Gateway consortium that manages St. Petersburg Pulkovo Airport in Russia.
The Frankfurt hub handled in July 6.2 million passengers, the highest ever passenger numbers for a month in the airport’s history.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereA consortium led by Germany’s Fraport—which won a 40-year operating concession for 14 regional airports in Greece in 2014—may have to wait until next year to close the deal. The consortium is in partnership with Greece’s Copelouzos Group.
Frankfurt-based Fraport will hold a majority share in the consortium, which won the privatization tender against stiff international competition. The purchase price of €1.23 billion ($1.53 billion) will be paid by the time of closing, which had been initially expected in the fall of 2015.
“Further talks are necessary, for example, between the Greek competition authorities and Fraport,” a spokesperson told ATW. “So far the agreement had not been signed. It is realistic that the deal cannot be completed this year.”
The Fraport consortium was selected as the preferred investor in November 2014. Due to changes in the Greek government, the timeframe of the project has been extended.
The concession was awarded by the Hellenic Republic Assets Development Fund and covers Aktio, Chania (Crete), Kavala, Kefalonia, Kerkyra (Corfu), Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos airports.
“This project is very ambitious and extensive. Not only because there are 14 different airports in which some we have to invest in the infrastructure, but also there is a strong seasonal traffic. Never the less, the airports are very attractive in terms of tourism (traffic),” the spokesperson added.
The 14 airports could create additional 19 million passengers for Fraport which is very active in airport investments outside Germany. The company has shares or operating concessions at 11 airports (outside Germany) for example in Lima (Peru) or Antalya (Turkey). “This business (in international airport projects) creates one-third of Fraport’s net income,” the spokesperson said.
Copelouzos Group is already involved in the management of Athens International Airport, and is partnered with Fraport in the Northern Capital Gateway consortium that manages St. Petersburg Pulkovo Airport in Russia.
The Frankfurt hub handled in July 6.2 million passengers, the highest ever passenger numbers for a month in the airport’s history.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereA consortium led by Germany’s Fraport—which won a 40-year operating concession for 14 regional airports in Greece in 2014—may have to wait until next year to close the deal. The consortium is in partnership with Greece’s Copelouzos Group.
Frankfurt-based Fraport will hold a majority share in the consortium, which won the privatization tender against stiff international competition. The purchase price of €1.23 billion ($1.53 billion) will be paid by the time of closing, which had been initially expected in the fall of 2015.
“Further talks are necessary, for example, between the Greek competition authorities and Fraport,” a spokesperson told ATW. “So far the agreement had not been signed. It is realistic that the deal cannot be completed this year.”
The Fraport consortium was selected as the preferred investor in November 2014. Due to changes in the Greek government, the timeframe of the project has been extended.
The concession was awarded by the Hellenic Republic Assets Development Fund and covers Aktio, Chania (Crete), Kavala, Kefalonia, Kerkyra (Corfu), Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos airports.
“This project is very ambitious and extensive. Not only because there are 14 different airports in which some we have to invest in the infrastructure, but also there is a strong seasonal traffic. Never the less, the airports are very attractive in terms of tourism (traffic),” the spokesperson added.
The 14 airports could create additional 19 million passengers for Fraport which is very active in airport investments outside Germany. The company has shares or operating concessions at 11 airports (outside Germany) for example in Lima (Peru) or Antalya (Turkey). “This business (in international airport projects) creates one-third of Fraport’s net income,” the spokesperson said.
Copelouzos Group is already involved in the management of Athens International Airport, and is partnered with Fraport in the Northern Capital Gateway consortium that manages St. Petersburg Pulkovo Airport in Russia.
The Frankfurt hub handled in July 6.2 million passengers, the highest ever passenger numbers for a month in the airport’s history.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.