Chinese Investors Interested In Purchasing Greek Airports

Finance Minister Yiannis Stournaras met with the management of China΄s Shenzhen Airport and the Friedmann Pacific Asset Management this past week, both of which confirmed their interest in the upcoming privatization of the Athens Airport (including Hochtief΄s stake) as well as the privatization of regional airports and the development of logistics in Greece. This was the second such meeting in the space of a month.

A ministry statement said the investors had expressed interest in the privatization program for Athens International Airport and 37 regional airports.

Athens International Airport which handles about 13 million passengers a year, is co-owned and managed by Germany΄s Hochtief AG with a 40 percent stake.

The Chinese consortium, comprised of Shenzhen Airport and Friedmann Pacific Asset Management Ltd, is led by the Shenzhen Airport company, which manages a rapidly growing Chinese airport that handles roughly 30 million passengers and 828 thousand tonnes of goods each year. The airport is the base of the Chinese airline company Shenzhen Airline, which has been a member of the Star Alliance group since November 2012.

Friedmann Pacific Asset Management Ltd is an investment firm with a strong presence in infrastructure projects and aircraft leases.

The consortium's aim is to further boost the position of the Athens International Airport by attracting airlines from SE Asia and establishing direct flights between Greece and China. It is currently preparing its business plan and preparing to formulate its proposal.

It has already indicated a desire to submit an official bid when the Hellenic Real Asset Development Fund (HRADF) begins the relevant tender for Athens airport, in order to acquire the share currently held by Hochtief.