World Economy

German Co. to Run Greek Airports

German Co. to Run Greek AirportsGerman Co. to Run Greek Airports

A German firm was this week chosen to take over 14 Greek airports as Athens begins selling off its assets to meet the terms of its bailout deal. It is not the first time Greece’s economic crisis has boosted the coffers of its biggest creditor, France24 reported. The Greek government has agreed to give Fraport, which runs Frankfurt airport among others, along with Greek partner Copelouzos Group the right to run the airports for the next 40 years, according to details of the deal published in the government gazette overnight on August 17. Fraport had won the bidding process for the concession last November for €1.234 billion ($1.41 billion), but Syriza, firmly against privatization, put it on hold when it won power in January.