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Greece sells to German company rights to operate 14 airports for $1.37 billion

Staff writer ▼ | August 18, 2015
Greece has agreed to sell to a German company the rights to operate 14 regional airports, the first deal in a wave of privatizations the government have to make to qualify for bailout loans.
Greece airports
Greece   The first deal in a wave of privatizations
The decision would hand over the airports, including several on popular tourist island destinations, to Fraport AG, which runs Frankfurt Airport, among others across the world.

The concession, worth 1.23 billion euros ($1.37 billion), is the first privatization decision taken by the government of Prime Minister Alexis Tsipras.

The government slightly relaxed its restrictions on banking transactions, allowing small amounts to be sent abroad for the first time in about two months.

The finance ministry's amendments, also published in the government gazette, include allowing Greeks to send up to 500 euros ($555) abroad per person per month, and allowing up to 8,000 euros per quarter to be sent to students studying abroad to cover accommodation costs.