Greek government plans Athens airport IPO to sell 30% stake

The Greek government has announced plans to sell part of its stake in Athens airport through an initial public offering, as the country enjoys a boom in tourism and the privatisation of state assets is expected to gather pace this year. Athens International Airport on Monday outlined plans for a listing on the Athens Stock Exchange in February, with the Greek state planning to sell a 30% stake in the country’s largest airport, raising about E800mn, according to a person familiar the matter. Greece has enjoyed a strong rebound in tourism since the end of pandemic border restrictions, and passenger numbers at the airport hit a record 28mn in 2023, up 24% on the year before. Greece’s credit rating was lifted to investment-grade status in September for the first time 13 years, underlining the country’s economic recovery. The airport sale is expected to boost the Athens stock market and signal the country’s return to normality after its decade-long debt crisis. The listing “represents a great opportunity for international and domestic investors to participate in the success story of Greek tourism,” said Dimitris Politis, CE of The Hellenic Republic Asset Development Fund (Taiped), the government body charged with privatising state assets. <br/>