Athens Airport set to receive 400 million euro upgrade to help with increased travellers to Greece

Athens Airport set to receive 400 million euro upgrade to help with increased travellers to Greece 1

Athens Airport set to receive 400 million euro upgrade to help with increased travellers to Greece 2

According to recent reports, Athens International Airport (AIA) operators are planning on investing 400 million euros into the upgrade of Eleftherios Venizelos Airport – over the next five years, due to the surging numbers of travellers visiting Greece and AIA’s key role in boosting the Greek economy.

Plans include expanding Terminal 1, extending the non-Schengen passport control area, creating a new sheltered parking space as well as constructing a budget hotel in 2018. Due to AIA’s expansion, road networks as well as relevant infrastructure is expected to be put into place by 2026.

Meanwhile, TAIPED’s share of AIA is set to sell for 600 million to 1 billion euros, according to market insiders.

Reports mention that parties expected to express interest are Canadian PSP Investments, China’s Shenzhen Airport Group and Kopelouzos Group, which is also involved in Freeport, who are currently running 14 regional airports across Greece.

Jointly held by the country’s privatisation agency TAIPED together with the government (25 percent), PSP Investments and Greece’s Copelouzos Group, AIA SA will operate the airport until June 11, 2046, by which time it is expected to have completed 2.35 billion euros in investments.

GCT Team

This article was researched and written by a GCT team member.