According to HRADF, due to the expected increase in passenger traffic and tourism, AIA will need to make additional investments of around €2.9 billion during this period in order to gradually increase the airport`s capacity from the current 26 million passengers per year to 50 million passengers per year before the concession expires. Τhe Athens International Airport S.A. » Eleftherios Venizelos (AIA) was established in 1996 with the aim of building, maintaining and operating The Athens International Airport “Eleftherios Venizelos” for a period of 30 years, in accordance with the Concession Agreement (the “Airport Development Agreement”). The concession in question, which is one of the largest and most important partnerships between the Greek state and the private sector, expires in 2026. Currently, AIA`s partners are the Greek State (25%), HRADF (30%), AviAlliance GmbH (26.7% plus 8 shares), AviAlliance Capital GmbH (13.3%) and D. Copelouzos Family (5% minus 8 shares). The project is mainly linked to the increase in airport capacity to accommodate 50 million passengers per year, or currently 26 million passengers per year, until the expiry date of the concession. The net revenue from the privatisation programme amounts to €1.132 billion, which will consist of the agreed sum of €1.115 billion, i.e. an additional €16.676 million, corresponding to an annual percentage adjustment of 10.3% prorated from 1 January 2019, in accordance with the extension agreement between the Greek State. The Hellenic Republic Asset Development Fund (HRADF) and AIA, the state-run amna news agency reported on Friday. It is estimated that the further development of the airport and the expected increase in tourism can lead to the creation of about 180,000 new direct and indirect jobs throughout the country. The total benefit to the Greek state from the extension of the existing concession contract until 2046 is expected to exceed €6 billion (including annual concession fees and income tax revenues), according to a press release emailed from the HRADF or the Hellenic Republic Asset Development Fund.
AIA is a pioneer of international public-private partnership and the first major airport on the Green Prairie with the participation of the private sector. The costs of developing the airport were financed mainly by bank loans, with the European Investment Bank being the main lender, the rest being provided by private equity and grants from the EU and the Greek state. At the same time, under the current agreement, AIA is expected to make total investments of around €2.9 billion, as positive upward trends globally and regionally are expected for passengers and tourism during the expansion period. The CAPEX ADDITIONAL plan focuses on increasing airport capacity, which will gradually increase passenger capacity from 26 million per year to 50 million passengers per year by the end of the concession period, including terminal extensions, new air car parks, road network development, etc. An international public tender is underway for the sale of 30% of AIA`s share capital held by HRADF. The tender has attracted the interest of some of the biggest international players. The plan, which includes extensions of terminals, new aircraft parking lots, extension of the road network and development of the airport and its activities, combined with an increase in tourism, is expected to lead to the creation of 180,000 new jobs across the country, according to the statement. AIA is the largest airport in the country and one of the most important infrastructures….