Fraport Greece is ready to take over the management of the 14 airports

Fraport Greece has announced to Public Financial Services and General Commercial Registry of Ministry of Economy a share capital increase of 620 mil. euros. After this increase, the company’s total share capital amounts at 650 mil. euros. All relevant taxes have already been paid.

At the same time, Fraport Greece has submitted to HRADF the financing contracts, in order to be examined and approved by the Greek State, as provided by the concession contract.

The upfront concession payment (1.234 bn. euros) – to be made at the time when Fraport Greece takes over the airport’s management - and the financing of the investments that Fraport Greece will implement by 2020 for the development of the airports’ infrastructure (more than 330 mil. euros), are fully ensured by the equity and debt financing.

In view of taking over the 14 airports’ management, Fraport Greece has implemented all required procedures, provided by the concession contract, for the smooth and safe operation of the airports.

The company has, also, proceeded with the necessary recruitments and training of the employees that will staff the airports, but also to the installation of new IT & T infrastructure for the upgrade of the airports operations. The tenders for the security and facility management and cleaning services of the airports have been completed, while the majority of commercial concessions and leases have been agreed and signed. The contract for fire security services by the Hellenic Fire Service has been recently signed with the Greek State. Respective contracts have been signed with the Hellenic Coast Guard and the General Secretariat of Civil Protection.