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Greece completes transfer of 14 regional airports to Fraport

Greece has formally completed the transfer of 14 regional airports to a consortium led by Germany’s Fraport AG, in a privatization that is a key element of the country’s bailout program.

The Greek state privatization agency says that under the deal signed Tuesday the consortium has paid a 1.23 billion-euro ($1.3 billion) lump sum.

It said additional state revenues from an annual lease and a share in airport earnings will reach a total 10 billion euros ($10.62 billion) over the 40-year concession period.

The deal has already been cleared by the European Commission. It had been initially due to come into effect last year.

The 14 airports are Thessaloniki — Greece’s second largest city — Mykonos, Santorini, Rhodes, Corfu, Zakynthos, Kefalonia, Kos, Lesbos, Skiathos, Samos, Chania, Kavala and Aktio. (via AP)

Fraport Greece signs €1billion loan agreement also with Greek banks to finance 14 regional airports modernization

Earlier today I read somewhere on internet that the first thing the new …owners did was to change the locks in Kefalonia airport.

The new ownership starts midnight.

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One comment

  1. A beautiful example of asset stripping. From Greece to the 4th Reich with love. The rest of the assets (airports, harbours, roads, pavements, houses, islands etc.) to be transferred suit. The corpses of the natives will be used as collateral in case of faulty goods.