Greek Gov’t to Name Financial Advisor for 23 Smaller Airport Projects, incl. Sitia

The Greek transport ministry said it would be naming a financial advisor in the coming period in order to move ahead with the exploitation of 23 smaller airports across the country.

Companies being considered are Grant Thornton, Lamda Group, and Process Consulting.

Once selected the financial advisor will assist the ministry in the design and implementation of the concession procedure for the management of the regional airports of Alexandroupolis, Araxos, Astypalea, Chios, Ikaria, Ioannina, Kalamata, Kalymnos, Karpathos, Kasos, Kastelorizo, Kastoria, Kozani, Kythira, Leros, Lemnos, Milos, Nea Anchialos, Naxos, Paros, Sitia, Skyros and Syros.

The Greek government aims to prompt public-private partnerships (PPPs) towards the upgrade and modernization of the above mentioned airports extending sub-concession deals for a separate commercial activities, with the public retaining ownership of the airports.

Speaking at the 7th European Aviation Conference held in Athens, last year, Transport Minister Christos Spirtzis said that the remaining state-owned airports would not be privatized but instead commercial use would be leased to private interests with airport infrastructure under Hellenic Civil Aviation Authority control.

The immediate goal, he said, was to incorporate the said airports into a cluster in order for these to gain added value. Topping the agenda of projects is the upgrade of five regional airports, including those of Paros, Syros, Naxos, Milos, Chios and Alexandroupolis.

At the same time, the government is considering launching an international tenderseparately for the airport of Kalamata in the model of the Kastelli Airport project. The makeover project of the Peloponnese airport is budgeted at 50 million euros.

Meanwhile, Fraport, currently running 14 regional airports in Greece, has expressed interest in taking over the management of the 23 smaller airports across the country.

The group’s Greek subsidiary has undertaken the management of the 14 regional airports for 40 years.

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