ECONOMY

Airport sell-off is on the runway

The tender for the concession of the operation of regional airports will begin at the end of March, the state privatization fund (TAIPED) announced on Wednesday.

According to sources, the regional airports, such as the one on Rhodes (pictured), will be split into two groups prior to their concession to private investors. The fund is responsible for 37 airports, 23 of which are of major commercial interest. The very small terminals will be grouped to form a joint company whose management will at a later stage be conceded to a private investor.

According to the government’s commitments to its international creditors, the privatization process will have to start within the first quarter of the year. The concession of the airports’ operations will be for 50 years and the preferred bidders will have to pay a sum in advance for the operation rights and share future profits with the state.

TAIPED says that the 37 airports need total investment of 240 million euros.