ECONOMY

AIA to cut rates, wants more cargo

Athens International Airport (AIA), which is headed for a stock market listing, said yesterday it is cutting landing and parking rates under a three-year incentive scheme to promote cargo traffic through Athens. AIA said its discounts on airport charges are aimed to attract new or additional cargo flows. Based on the plan, landing and parking fees will be cut by 50 percent for the first year, by 37.5 percent the second and by 25 percent the third year. The state, which owns 55 percent of AIA, intends to take the airport public next year as part of a series of state asset sales to pay down public debt. (Reuters)