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Turning challenges into a business success

Hellenic Republic Asset Development Fund

It takes a range of skills to privatize a network of 37 airports.

Shrinking government budgets, economic development imperatives - sound reasons for restructuring state-owned aviation infrastructure under private management. It is also the more effective route to profitability and stakeholder satisfaction.

As the euro debt crisis swept over Greece, the government undertook a substantial restructuring effort to privatize state owned companies and infrastructure.

One major item on the agenda: the transitioning of 37 regional airports to public-private partnerships to generate revenue for the government. The watchwords: speed, efficiency and value preservation.

What got Lufthansa Consulting a seat at the table was the extensive experience that comes from 22 airport privatization projects around the world involving governments, financial institutions and investor consortia. What placed Lufthansa Consulting in charge of the project was an unparalleled track record in managing this type of project - with all the complexities that when multiple stakeholder groups with seemingly conflicting goals are involved - under a tight timeline and with solids prospects for an optimum outcome.

Forming a consortium of competence, if you will, our team took point in working with technical advisory partners Doxiadis Associates and Alanna Consulting Group as well as financial and legal advisor teams to develop workable strategies and guide the process - as well as maintain momentum. In the initial phase, the deliverables centered on a thorough assessment of infrastructure and operations as well as of commercial and service quality performance at all airports, air traffic load and revenue projections, a master investment program, and the formulation of a national airport policy for Greece. At a later stage Lufthansa Consulting will play an important role in preparing the tender documentation and support the tender process in order to achieve a smooth and successful transition every step of the way.

Lufthansa Consulting delivers:

  • In depth traffic forecast
  • National airport policy concept
  • Detailed business plan incl. a recommendation for a general airport tariff system