ECONOMY

Athens Airport 2011 profits up on lower tax bill

Athens International Airport saw profit rise by 7.2 percent in 2011 because of a lower tax bill.

Net income rose to 104 million euros from 97 million in 2010, the Athens-based company said in a statement posted on its website.

The airport, Greece?s biggest, paid 25.5 million euros in tax, down from 62 million the previous year as extraordinary levies in 2010 were not repeated, according to the statement.

Greece aims to raise 50 billion euros by 2017 from selling and renting assets.

Extending the concession to operate Athens International and a possible stake sale of as much as 30 percent are part of the plan.

Greece owns 55 percent of the airport and Hochtief AG 40 percent.

[Bloomberg]