Airport Development Agreement Athens

Athens International Airport S.A. (AIA) was established in 1995 as a public-private partnership with a 50-year concession contract. The concession contract was first ratified by Greek law 2338/95 and later by Law 4594/2019, and grants the right to use the airport site for “planning, financing, construction, completion, commissioning, maintenance, operation, management and development of the airport.” AIA is a private company in which the Greek state owns 55% of the shares, while the private shareholders together hold 45%. In February 2019, the extension of the existing concession contract for a further 20 years, i.e. until 2046, came into effect. The right to extend the existing concession agreement has been transferred from the Hellenic Republic to the Fund. The state-of-the-art Athens International Airport “Eleftherios Venizelos” (AIA) has been active for the Greek capital since it opened on 28 March 2001. With an investment of 2.2 billion euros, the new airport was built in a record time of 51 months, replaced by its overburdened predecessor and offers all airlines and passengers a modern, spacious and state-of-the-art environment. According to the IATA Global Airport Monitor and AETRA, Athens International Airport already deserves international recognition and has held a leading position in overall passenger satisfaction in the airport size category over the past four years. Tags athens International Airport HRADF the privatization sold share 30% Athens International Airport S.A. (AIA) was created in 1996 with the aim of building, maintaining and operating the Athens International Airport “Eleftherios Venizelos” for a period of 30 years, in accordance with the respective concession contract. This concession, which is one of the most important and important partnerships between the Greek state and the private sector, expires in 2026.

AIA`s shareholders are currently the Greek State (25%), HRADF (30%), AviAlliance GmbH (26.7% plus 8 shares), AviAlliance Capital GmbH (13.3%) and d. The Copelouzos family (5% minus 8 shares). The process of monetizing HRADF`s shareholding in AIA will begin immediately after the completion of the extension of the current 20-year concession contract. AIA was established in 1996 as a public-private partnership to build, maintain and operate the airport for 30 years as part of the airport development agreement. Based on the airport company`s management approach, the new airport has acted as a catalyst for long-term business development by creating a business platform for more than 300 companies directly related to the operation of the airport. More than 14,000 people work on the airport site, making Athens International Airport one of the main drivers of employment in Greece, which has already created some 3,300 new jobs when it opened. The AIA is considered to be the pioneer of international public-private partnership of this kind in the world and is the first major green prairie airport to be built with private sector participation.