After months of negotiations, Frankfurt Airport’s management company Fraport has been granted the right to operate 14 Greek airports for the next 40 years in partnership with Greece’s Copelouzos Group. Most of the airports concerned are located in major tourist destinations including Corfu, Rhodes and Mykonos and between them process around 23 million passengers a year.
Under the terms of the deal, which represents Prime Minister Alexis Tsipras’s first major part privatisation project since Greece was nearly forced out of the euro last year, the airports will remain the property of the Greek state, with Fraport paying €1.234bn at the start of the contract next autumn and a further €222,9m each year after that. It is also committed to investing €330m in the airports’ infrastructure over the next five years.
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