German Company Set to Take Over Operations of 14 Greek Airports

Airport

Following the finalization of the third Greek bailout, privatizations and operation takeovers of Greek pubic assets are expected to recommence.

Greek newspaper “Kathimerini” reported that German Fraport AG and Slentel Ltd will soon complete the takeover of the operation of 14 Greek airports.

The agreement with the Greek state had been signed back in November 2014 under the previous Greek government. However the deal is yet to be finalized.

The interested parties had offered 1.234 billion euros as well a 22.9-million-euro annual payment, adjusted for inflation, for these 14 airports across Greece.

The airports include those of Aktion, Chania, Corfu, Kavala, Kefalonia, Kos, Mytilene, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos.

Fraport is a German transport company that is well-known for managing the Frankfurt airport as well as other airports across the globe.

The German company will invest 330 million euros in the first four years, while the total worth of investment will be 1.4 billion euros.

The report noted that, according to estimations, the new investment will bring around 1,450 new direct jobs and 15,000 new indirect jobs.


  • Mr Maverick

    Its Greece they are after. Soon they will take over our tourist industry, our agriculture and places of historic interests turning them as German properties.

  • JonniOZ

    I wouldn’t say that they have been privatised. I would say a more appropriate description would be that they’ve been ceded.
    1.2 billion seems to me to be awfully cheap for 14 airports.

  • Cypriot

    What a surprise! Who would have thought that Greece would sell assets to Germany…

  • Polycrates

    The invasion of Greece begins in earnest.

  • Nick the Greek

    The shame (all of it) is on the modern-Greek political classes…Why? Because they have no class, no skill and (evidently) no Greekness.

    Hellenes – lions, led by donkeys!

  • Paul

    Take cover!
    The Germans are coming!
    The Germans are coming!

  • Silverbug

    Ordinary people/panels with limited terms are in office maybe,not bought off ones. Short of blackmail or your whole family being threatened, I can’t see how any ordinary people could be in charge of government. Oligarchs are running the show everywhere. All our governments have been hijacked. The highest bidder gets his way.

  • socalbeachdude

    It is wonderful to see competent Germany folks taking over operations in Greece from incompetent Greeks. The airports will now work much better and will quickly move towards profitability and competence.

  • socalbeachdude

    Indeed, and then Greece will finally start to function properly for the first time in th entire history of Greece.

  • socalbeachdude

    Yes, and isn’t it absolutely glorious and wonderful?

  • The Great Debator

    The Germans are goose-stepping into Greece, the soft invasion of Europe has started.

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  • Tom Magnetic

    After two World wars against the Germans in which many Greeks lost their lives to keep the Germans out and now this.
    Greeks had a far better and relaxed life than any Germans did, but the Greek politicians who sold welfare without work in exchange for votes to keep powerand created the debts are now selling Greece, in times the army always protected Greece including by taking control with the junta.

  • Dick Dawkins

    Good grief! Greece was functioning much better than Germany for 99.99% of the human race’s existence. You barely came out of bogs and mud huts a century ago and promptly reverted to your natural state of barbarism last century.

  • ivas4

    more evidence that Germany engineered the crisis on purpose to steal Greek assets at fire sale prices with the blessing of our past and current government

  • Paul

    Yes Greece vill be run the efficient German vay otherwise everyone vill be shot. Ve have no time for laughter or fun ve are German ve vill drink lots of beer until ve pass out.

  • Paul

    An anology that represents the situation with Greece:
    The Greek Parliament is the Pimp, over a period of forty years the Pimp has transformed Greece into a Prostitute that has no hope or future. Germany is the Rich, Perverse, Dirty, Old Client and over time between Germany and the Greek Parliament they have forcibly addicted Greece into the drug, Euro, which is a fix in the short term but you know in the long term it will kill her.
    Once Greece does die, Germany still has a collection of prostitutes to choose from, Spain, Portugual, Ireland…

  • Arithehun

    The piper must be paid unfortunately Greece was ran as an ATM for two families and there cronies for the last 50 years globalisation is happening in every country so to say its only Greece affected is not true what is true is that the miss management over 50 years may end in a fire sale of assets and unless we have genuine reform with this sale of assets all that will happen is we kicked the can down the road

  • Polycrates

    The problem with pimps getting too close to their prostitutes as Germany is with Greece in your scenario is they eventually catch sexually transmitted disease.

  • Nick Karabineris

    Like I said COWARD

  • Nick Karabineris

    Ignorant idiotic coward

  • Mr Maverick

    I hope so.

  • Dimitris Roussos

    Fraport is said to have asked for renegotiation about further lowering the amount to about 800million…. the 14 airports to be privatized, contribute to the Ministry of Finance (they don;t handle their own money), more than that in 2-3 years of operations.. Just the 12 euros of airport tax per passenger, with a conservative number of 17 million passenegers make 200 million. The problem is that , for the past few years there has been no reinvestment at all. Even a 10-15% of the revenue would be enough to make all necessary maintenance and improvements needed… but NO.. thay want to give them away !!!