The Greek government, understanding the central role that the tourism sector will play in Greece’s economic revival, is looking to significantly increase investment in tourism-related infrastructure and particularly in the airport sector. Accordingly, the government launched two public-private partnership projects: the privatization of 14 regional airports and the development of the New Heraklion International Airport in Crete. Ascendant provided technical advisory support to private sector consortiums pursuing each of these transactions.
Greece: Traffic Forecasting Services for the Privatization of Regional Airports
In 2013, the Hellenic Republic Asset Development Fund launched a process for the privatization for the portfolio of Greek Regional airports. The privatization will grant the rights of use, administration, development, expansion, maintenance, and exploitation of 14 of the 21 regional airports in Greece. For optimal reorganization, the airports were organized into Clusters A and B with seven airports each.
In support of a private consortium’s bid for this tender, Ascendant developed air traffic forecasts on a fast-track basis for the seven airports included in Cluster B, namely the key tourism destinations of Rhodes, Kos, Mykonos, Santorini, Samos, Mytillini, and Skiathos. Detailed air traffic projections were prepared for a 40-year horizon under three traffic scenarios and included a projection of annual passengers, cargo, aircraft movements, fleet mix, and peak hour activity.
Greece: New Heraklion International Airport in Crete
Ascendant provided air traffic forecasting and project management support to a consortium pursuing the concession of a new international airport to be developed in Kastelli, Crete that will replace the existing airport in Heraklion. The technical advisory program involved the preparation of a functional and technical program for the development of the new airport and access roads in accordance with the parameters outlined in the tender documents issued by the Government of Greece for this PPP project.
Ascendant staff was responsible for the management of the finalization of master plans and concept designs for the project, as well as updates to the technical offer in response to changes in key parameters of the bid documents. Ascendant staff was also responsible for the update of a traffic forecast model to project annual, peak hour, and peak day aviation activity for the 35-year concession period and a detailed Traffic Study Report.