Greek Gov To Review Airport Leasing Deal

The newly elected Greek government is to review a 40-year lease deal agreed by its predecessor with German company Fraport to run 14 of the country’s airports.

The newly elected Greek government is to review a 40-year lease deal agreed by its predecessor with German company Fraport to run 14 of the country’s airports.

The €1.2bn ($1.4bn) leasing deal, agreed last November, would see Fraport operate hubs including Rhodes, Crete and Corfu in conjunction with Greek energy firm Copelouzos.

The agreement included Fraport committing to spend €330m ($376.5m) over four years to upgrade airport facilities.

The review is being carried out as part of the Syriza party government’s re-evaluation of privatised contracts which it pledged to complete upon being elected last month.

State minister Alekos Flabouraris told Greek television reporters: “For us, airports are not a package to be sold... Some of them can be run by the municipality, others by private individuals, we’ll see.”

TAGS: Europe
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