Athens Airport goes public. The state has 20 billion of it

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Shares of Athens International Airport will start trading on the stock exchange next week.

Interest in the initial public offering (IPO), Greece’s largest since the 2010-2018 debt crisis, is high among investors, with demand significantly outstripping supply. The price was thus set at the upper end of the planned range, announced the Greek privatization agency HRADF. The government is offering 30 percent of the airport’s shares in the offer.

The shares should start trading on the Athens Stock Exchange around February 7. The price per share was set at 8.2 euros, the state will get 784.7 million euros (19.5 billion crowns) from the offer. According to the privatization agency, orders from investors have already exceeded eight billion euros. The government offered the planned 90 million shares to Greek and foreign investors and current shareholders.

Prague Airport could go public. Why not, it is a common practice in the world

Markets

The head of the Prague Stock Exchange, Petr Koblic, would like to see Prague Airport’s securities on the domestic floor. He said this in an interview with Bloomberg. Coincidentally, the Athens airport also announced its intention to go public this week. Publicly traded shares of airport companies are really not unusual in the world, after all, even Vienna Airport is on the stock exchange. And in the future, such an investment can also make a decent profit for a small shareholder.

Zdeněk Pečeny

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The airport offering is the most significant initial public offering in Greece since 2000. It should help the largest airport in the country to expand, as record numbers of tourists are heading to Greece. Athens Airport, fully known as Eleftheria Venizela Athens International Airport, connects Greece with 155 cities around the world and handled over 28 million passengers last year. This is 24 percent more than last year. About 19 million of them came from overseas. According to the analysis firm OAG, it became the ninth busiest airport in Europe last year.

Tourism accounts for 25 percent of Greece’s gross domestic product (GDP). Income from foreign tourists in the 11 months of last year rose by 15 percent to 20 billion euros and compared to the same period in 2019, i.e. before the covid-19 pandemic, was 13 percent higher. Early indications are that this year will be a very good one as well.


White beaches and a monumental mosque. Forget Dubai, fly to Abu Dhabi this year

Enjoy

After several years, direct connections with the capital of the United Arab Emirates (UAE) Abu Dhabi are returning to Prague Airport. It is a charter connection for the DER Touristik group, which covers travel agencies Fischer and Exim Tours on the Czech market. The group will operate the route to the capital of the United Arab Emirates with the carrier Smartwings once a week, every Thursday at 10:20, until the beginning of May.

Zdeněk Pečeny

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Big airport plans

Director of the Greek Institute of Tourism INSETE Elias Kikilias pointed out that the airport in Athens is not only a place for arrivals and departures. It also includes the wider area around the terminal with a hotel, exhibition spaces and large shopping centres. In fact, it serves an area with almost six million inhabitants.

The airport is also planning an expansion in three phases. Its goal is to increase the terminal’s capacity to 50 million passengers by 2046. The expansion of the central terminal is planned, a new parking lane for 32 aircraft, a new terminal for VIPs and also a multi-storey car park are to be created.

The airport’s share offering comes after the first sale of new Greek bonds since Greece regained its investment grade rating. This week, the government offered 10-year bonds, attracting a record 35 billion euros in orders. The Greek economy outperformed most other European economies last year.

The German operator AviAlliance owns 40 percent of the airport. The latter agreed with the government to buy another ten percent at a price higher than the price set for the primary offer.

Prague Airport handled 13.8 million passengers last year

Prague Airport is slowly returning to pre-covid numbers. It handled 13.8 million passengers last year

News from companies

13.8 million passengers left Prague’s Václav Havel Airport last year. Year-on-year, the number of passengers handled increased by 29 percent, reaching 78 percent of the number of passengers handled in 2019 before the covid-19 pandemic. At the beginning of last year, the airport estimated around 12.5 million passengers transported for 2023, exceeding this forecast by more than 1.3 million.

CTK

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The article is in Czech

Tags: Athens Airport public state billion

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