ECONOMY

Greece to sign airport privatization with Germany’s Fraport

greece-to-sign-airport-privatization-with-germany-amp-8217-s-fraport

A Greek official says nine key privatizations will be completed in the first half of 2016, including the sale of more than a dozen regional airports for which a deal is to be signed imminently.

Stergios Pitsiorlas, the head of the country’s privatization fund, said Tuesday that a 1.23 billion euro ($1.34 billion) deal will be signed within 10 days with German company Fraport for 14 regional airports, including those in tourist hotspots such as Mykonos, Santorini, Corfu and Rhodes.

Fraport operates Germany’s Frankfurt airport as well as Antalya airport in Turkey and Bulgarias Varna and Burgas airports.

Under Greece's latest international bailout program, the privatization agency is to be replaced by a new one that will handle sales worth 50 billion euros. [Reuters}