The Hellenic Republic Asset Development Fund (HRADF) has approved the final draft of the concession agreement for the privatization of the regional airports.

The date of submission of binding offers will be determined, after the approval of the concession agreement by the Greek State.

The regional airport sector in Greece consists of 37 airports, including Thessaloniki, the 2nd largest Greek city and a commercial entrance point to the Balkans/Central Europe, and the airports of Rhodes, Corfu, Chania, Kos, Zakynthos, Santorini, Mytilini, Samos and Mykonos, which attracts the majority of international tourism.

Currently, all regional airports are state-owned without any corporate structure and supervised by the Hellenic Civil Aviation Authority (HCAA). Following the privatisation, HCAA will retain its role as regulator of aeronautical services and provider of air-traffic control services.

The Hellenic Republic has appointed Citigroup Global Markets Limited and Eurobank EFG Equities Investment Firm S.A. as financial advisors, Your Legal Partners and Drakopoulous & Vasalakis Law firm as legal advisors and Lufthansa consulting, Doksiadis Associates and Alanna Consulting Group, as technical advisors to assist with the privatisation.

HRADF announced on September 10th that seven investment entities had qualified to participate in the second phase of the tender process for the concession of the management, operation and maintenance of the regional airports, tendered in two clusters.

• Group A includes the airports of Thessaloniki, Corfu, Chania, Kefalonia, Zakynthos, Aktion, Kavala and optionally up to 3 of the airports of Alexandroupoli, Araxos , Kalamata and Nea Achialos.

• Group B includes the airports of Rhodes, Kos, Samos, Mitilini, Mykonos, Santorini, Skiathos and optionally up to 3 airports of Limnos, Chios, Karpathos and Nea Achialos.