AIA increases offer for Athens Airport 20-year concession

With a current 30-year concession for Athens Airport due to end in 2026 Athens International Airport SA (AIA) has increased its offer for a 20-year extension to the concession, which would take the term up to 2046. The offer has been increased to €600 million, with net proceeds of €483.87 according to The Hellenic Republic Asset Development Fund (HRADF), the Greek development agency which has a stake in the airport. Additionally, AIA will be required to invest €2.35 billion over the concession period, predominantly to account for the anticipated increase in passenger traffic from tourism.
The transaction is subject to approval both from European authorities and the Greek Parliament.
The Greek government, partly through HRADF owns a 55% stake in the airport, with other shares held by the Canadian Public Sector Pension Investment Board (40%) and the Greek group Copelouzos (5%). (€1.00 = US$1.12 at time of publication.)