Fraport Greece to officially assume management of 14 provincial airports in mid March

The German-Greek consortium Fraport Greece will officially take over the management of 14 regional airports around the country on March 14, a landmark privatization agreement in the country that’s expected to boost Greece’s all-important tourism industry.

A German company official was quoted by Reuters as saying that the company and the Greek state have pinpointed the date for activation of the concession contract.

Nevertheless, the Fraport-led consortium will gradually begin operations at the airports this month.

What remains to be concluded are several procedures changes, until March 14, involving the ownership status.

Fraport-Slentel was declared the winner of an international tender by Greece’s privatization agency (TAIPED or HRADF) to assume the management of the airports.

The former will pay 1.234 billion euros as a lump sum payment, along with 22.9 million euros a year in lease payments.

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