ECONOMY

Fraport has eye on stake in Athens airport

German airport operator Fraport would be interested in investing in Athens International Airport (AIA), one of its senior directors said yesterday. Fraport, which is in the middle of a 7-billion-euro capital expenditure program at its airport in Frankfurt, Germany’s largest, is looking for assets in both emerging and mature markets, Alexander Zinell, Fraport’s senior vice president for global investments and management, told Reuters in Dublin. ‘The Greek government is considering selling down on its 55 percent stake in Athens airport; they need to cut their debt. This is a great asset we know well, we would look at investing in it,’ Zinell said. ‘International airports make up a quarter of our core profit, we are looking to increase that to a third, hopefully in the next five years.’ Fraport helped a private consortium led by Hochtief, which owns 45 percent of AIA, to develop it, Zinell said. The Greek government is in the process of selecting advisers for its AIA stake.