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Athens Airport privatisation attracts 10 bids

November 1, 2019

The Hellenic Republic Asset Development Fund (HRADF) recently tendered the first stage of the privatization of a 30% share in Athens International Airport (AIA).

Expressions of interest have been submitted by 10 leading investment consortia, including some of the largest airport operators in the world.

 

The bidders are:

 

  1. ADP Groupe

  2. APG Asset Management

  3. Avialliance Gmbh

  4. Consortium of Ardian Infrastructure Fund S.C.A, SICAR and Ardian Infrastructure Fund V B S.C.S. Sicav – Raif

  5. Consortium of KKR – Egis

  6. Consortium of MEIF 6 Attic Investment, Raffles Infra Holding and Chengdong Investment Corporation

  7. Ferrovial International Se

  8. First State Investments

  9. Global Infrastructure Partners

  10. Vinci Airports

 

Athens International Airport is majority-owned by the Greek government with 55% of shares, with private shareholders currently owning 45% of share. The company is a public-private partnership and is considered one of the largest and most successful such firms in Greece, and south-eastern Europe.

 

AIA hit a record year of passenger traffic in 2018, with 24.1 million passengers using the airport, an increase of 11% over 2017. Of these, 16.4 million were international passengers, while 7.7 million were domestic passengers. A total of 217,100 flights arrived and departed in 2018.

 

Financial results showed total turnover rising to € 495.5 million in 2018, an increase of 8.9% over 2017. Profit before tax reached € 239.7 million, an increase of 19.9% over 2017.

 

AIA won a Skytrax award as for best customer service in 2018, and has a continual record of success in this area. The renewed international interest in AIA indicates Greece’s economic recovery is taking hold.

 

Navigator Consulting and NavInvest Greece provide due diligence, market analysis, business planning and valuation services in Greece and internationally. For support in investing in Greece, please contact us.

 

Sources:

Hellenic Republic Asset Development Fund

Athens International Airport

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