Greece accepts improved Athens airport offer

Greek development agency HRADF has accepted an improved offer from airport operator Athens International Airport SA for a 20-year extension of its concession to run the airport. AIA increased its offer to E600m, with net proceeds of E483.87m HRADF said. The Hellenic Republic Asset Development Fund (HRADF) expects revenues of approximately E894m from the 20 year extension. AIA will be called upon to make a total investment of about E2.35b to account for the estimated upward trend in passenger traffic and the expected increase in tourism, HRADF said. The completion of the transaction is subject to approvals by European authorities and the Greek Parliament.<br/>