Athens Airport Posts 7.2% Full-Year Profit Increase on Lower Tax

Athens International Airport saw profit rise by 7.2 percent in 2011 because of a lower tax bill.

Net income rose to 104 million euros ($140 million) from 97 million euros in 2010, the Athens-based company said in a statement posted on its website. The airport, Greece’s biggest, paid 25.5 million euros in tax, down from 62 million euros the previous year as extraordinary levies in 2010 weren’t repeated, according to the statement.

Greece aims to raise 50 billion euros by 2017 from selling and renting assets. Extending the concession to operate Athens International, and a possible stake sale of as much as 30 percent, are part of the plan. Greece owns 55 percent of the airport and Hochtief AG (HOT) 40 percent.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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