The executive chairman of the Hellenic Republic Asset Development Fund (HRADF) has publicly confirmed that the privatisation agency intends to launch the sale process for its 30% stake in Athens International Airport (AIA) in early 2019. A tender seeking buyers will be launched by February.

The remaining interest in the airport is split between the Greek government (25%), German airport manager AviAlliance (40%) and the Copelouzos Group (5%). HRADF began seeking a financial advisor for the sale in April 2017, but plans were postponed while an agreement was settled for the extension of the concession to operate the airport.

After months of negotiations - the concessionaire's initial offer was deemed too low by the Directorate General for Competition of the European Commission - the Board of Directors of HRADF approved a EUR1.4 billion (US$1.6 billion) offer for the 20-year extension last month.

Once the extension is fully approved and completed, HRADF will begin the sale process.