HRADF concluded successfully an international tender process that resulted in the granting of the right of concession for the development and operation of 14 regional airports in Greece.  In particular, two 40-year concessions to upgrade, maintain, manage and operate two clusters of seven regional airports (per each) have been conferred to a consortium of companies consisting of Fraport AG Frankfurt Airport Services Worldwide and Slentel Limited of Copelouzos Group.

Cluster A comprises of the airports of Thessaloniki, Kerkira, Kefalonia, Aktio, Zakinthos, Kavala and Chania and Cluster B comprises of the airports of Rhodos, Samos, Skiathos, Mytilene, Mykonos, Santorini and Kos.

Throughout the concession period, the Hellenic Republic shall enjoy a number of benefits, which, besides the significant payments consisting of the upfront, the annual and the variable concession fee, include the improvement of the quality of airports services by means of significant investments. HCAA’s role as regulator and supervisor of airport services will be enhanced, while it shall continue to retain the provision of air navigation services.

HRADF, in coordination with the Greek State and HCAA, is currently working towards the fulfillment of the conditions precedent for the closing of the transaction and the concession commencement date, envisaged to take place in the next months. The concession agreements have been ratified by the Greek Parliament by Law 4389/2016 (A 94) and are publicly available on the Parliament’s and the Official Gazette’s website.

The Hellenic Republic has appointed Citigroup and Eurobank Group as financial advisors and Your Legal Partners, Drakopoulous & Vasalakis Law firm and Norton Rose as legal advisors, to assist with the privatization of the 14 regional airports.

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