BUSINESS

Only two small airports can woo investors

VANGELIS MANDRAVELIS

TAGS: Privatizations

Araxos and Kalamata are the only two out of the 23 small airports around the country that appear likely to attract investor interest, as the vast majority of them seem to be of very little commercial vale, according to the valuation commissioned by state privatization fund TAIPED that was presented on Friday.

There are about five or six smaller airstrips that may attract minor interest, such as those on the islands of Kalymnos, Astypalaia and Patmos, but the other 15 or 16 are certain to be transferred to the Public Holdings Company (EDHS), a subsidiary of the new Hellenic Holdings and Property Company (EESP). The final decision rests with the government and the supervisory council of EDIS.

At TAIPED they say that organizing a privatization process for 21 out of the 23 airports will be “much ado about nothing.” They account for just 5 percent of travelers arriving in Greece by plane, while the concession of the Araxos and Kalamata airports is not expected to fetch any more than 15 million euros in total.

The study presented to TAIPED on Friday showed that Araxos, near Patra, has the advantage that large aircraft are able to land there, while Kalamata has seen flight numbers soar recently thanks to increasing tourism traffic in the southwestern Peloponnese.
 

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