SETE Applauds Signing of Greece’s Major Privatisation Deal on Regional Airports

Rhodes International Airport – Diagoras/ Photo © Piotrus – Wikimedia Commons

The Greek Tourism Confederation (SETE) has applauded the signing of the 40-year concession agreement between Greece and the consortium of Fraport AG-Slentel (a unit of Greek energy Copelouzos Group) for the upgrade, maintenance, management and operation of 14 Greek regional airports.

“SETE welcomes the agreement that is expected to contribute to the upgrading of regional airports, which require significant investments”, an announcement on Monday read.

According to the confederation, the upgrade of the airports will bring significant benefits for Greek tourism and for local communities.

SETE said that the deal is expected to boost regional development of the islands and other destinations that are serviced by the regional airports.

The 1.23 billion euro deal includes airports in major tourism destinations such as Mykonos, Kos, Santorini, Kefallonia, Samos, Chania/Crete, Thessaloniki, Corfu and Rhodes.

Under the deal, Fraport is expected to pay some 23 million euros annually and spend more than 300 million euros as minimum guaranteed investments to upgrade the airports.