Athens Airport ownership deal end-game in sight as EU approves AviAlliance’s 'sole control’

The saga of the redistribution of equity in Athens International Airport seems to have lasted as long as the Greek Debt Crisis, which began in 2009.

The complex ownership structure, involving the Greek government, state development funds, a private German company (from the country that bailed out Greece, but at a cost), and a Greek family was increasingly less fit for purpose, with decision-making decentralised.

Now that German company, AviAlliance, has been given the green light by the European Commission to take sole control, with marginally more than 50% of the equity.

That provides the airport with a clear strategic development focus. AviAlliance operates similar airports in Germany, Hungary and the Caribbean.

Now the country awaits the outcome of an IPO on the airport, in 2024, which will shed more light on whether or not Greece has finally extricated itself from the shackles of that debt crisis.