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Greece Finalizes Sale of 14 Airports to Fraport
Ryan Boyd April 13, 2017
Greece has reportedly closed the sale of 14 of its regional airport to the Fraport consortium, bringing closure to a privatization drive that started in 2015. The sale was reportedly worth 1.2 billion euros ($1.3 billion), and was approved with the signatures of Greece’s ministers of finance, transport and defence: Panos Kammenos, Christos Spritzis and Euclides Taskalotos.
According to agency chief Antonis Leousis, the sale is a “milestone agreement… with overall multiple benefits expected for the Greek economy,” and is part of an overall attempt to prevent Greece from falling out of the eurozone.
To read more on this story, go to The Economic Times.
[Photo: Shutterstock]
Ah, Fraport. That wonderful company that Lufthansa used to be in love with when they partnered to gouge flyers for fees. Lufthansa can't like this one bit. All was well as long as Fraport was cooperating with Lufthansa and doing it on Lufthansa's terms. But now that Fraport is also working with Ryanair, Lufthansa suddenly considers Fraport to be a disloyal system partner. Sort of like LH considers their very own frequent flyers to be disloyal just because they're tired of Lufthansa squeezing them. If you're not willing to team up with LH to gouge a third party, you're dirt to them. Fraport expanding their holdings in Greece can't be good for Lufthansa...or can it? Time will tell as to what Lufthansa gets away with.