ECONOMY

Athens Airport privatization takes off

State sell-off fund TAIPED launched the privatization process for Athens International Airport on Monday with the announcement that it has commissioned an independent consultant to assess the reasonable value of the rights to operate the airport for 20 years.

The TAIPED plan is for the existing concession contract, which expires on June 11 2026, to be extended to June 11, 2046.

The current process is expected to start in the first quarter of 2015.

TAIPED had tried in 2011 to sell the same operation rights for about 200 million euros, but Hochtief’s German shareholders were not in agreement.