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The airport at Kasteli, Crete – A theatre of absurd and delays

The existing airport, which is the second largest in circulation in the country, is tragic. Sheds, "ovidian" situations inside, immense long hour suffering in Arrivals and Departures for the hundreds of thousands of tourists, who visit Crete each year, have made it a "disgrace of the hellenic tourism." It is not us who claim the above. You can ask the tourists- visitors and weep or laugh bitterly.

February 23, 2016 has been set by the Hellenic Government as the deadline for the submission of offers regarding the above project.

But the overall economic situation of Hellas, with the most heavy measures being in progress until February (social security, farmers and many others), makes a possible awarding or progress in the Bidding concerning the Airport, a “Midsummer Night’s Dream”.

Surely, the European Investment Bank has shown interest in financing part of the projects with 850,0 million euros but this is hardly enough.

Because the international groups that have had the intention to participate from way back, are outraged with the many postponements and their Greek partners share the same aggressive thinking.

  • We have been talking and writing about these things for years.
  • The discrepancy between words and actions defines this Government as well.
  • The project is intricate.
  • It has been “placed” many times into the “Procrustean bed”.
  • The runways and airport areas are enlarged and downsized constantly.
  • The accesses and the roadways are continuously differentiated.

A definite decision regarding the interim periods of use for the existing airport of Heraklion, is not yet clear.

The existing airport, which is the second largest in circulation in the country, is tragic. Sheds, “ovidian” situations inside, immense long hour suffering in Arrivals and Departures for the hundreds of thousands of tourists, who visit Crete each year, have made it a “disgrace of the hellenic tourism.” It is not us who claim the above. You can ask the tourists- visitors and weep or laugh bitterly.

Thus, the French VINCI along with ELLAKTOR are potential investors, like Aeroport de Paris with J&P AVAX. There is also the dynamic presence of the Spanish giant ACS accompanied by GEK-TERNA. The Chinese are a mystery and so are their possible Greek partners. Finally, the Argentinian Corporation America moves in the mist.

We believe that the slowness of the foreigners and their partial reluctance is linked to the conditions for their funding from major financial groups and banks that “see” chain-like that Hellas is in a swirling and in economic uncertainty that will become somewhat clear by 2017. And not necessarily in a positive way…

Basically, fueling our thinking with optimist, because it is necessary, we believe that later, approximately by August 2016, the way for this investment will become clear.

And of course, the provision on “Bonus” that is included in the recent Tender, for the investors who will invest with larger funds, is of great importance and gravity.

This new development (Bonus), will support the deliberations that are expected, but one must not in the least ignore the strategic “maneuvers” to be made by the veteran Greek and foreign negotiators, who will represent the potential participant groups.

Will these negotiations, when the time comes, be conducted by the TAIPED, which will be headed by a Greek, or perhaps by a foreign expert?

If the second takes place, then, the conditions will bring the partner “Hellenic Government” in a very difficult position. And will judge its final stake in the project.

And the expropriation of any future added value for the Hellenes, will have a tragic business ending. We hope positively, but not with certainty.

Emmanuel A. Gyzis is managing partner of Emmanuel A. Gyzis & Associates Law Offices.

Managing Partner - Emmanuel A. Gyzis & Associates Law Offices | + Posts

Emmanuel A. Gyzis is managing partner of Emmanuel A. Gyzis & Associates Law Offices.

He was born in Athens, Greece, 13 January 1947; admitted to Athens Bar Association 1974. Education: University of Athens, Law School (1972), London, (L.LM. 1980), specialized in Aviation Law and originally worked in the respective field on behalf of British Tour Operators and Charter companies. 

With longstanding journalistic and writing activity, his articles have been published in financial newspapers and magazines specialized in Aviation and Tourism. Author of pioneering monographs on the development issues of Olympic Airways (1989), he has published during a course of many years, a series of articles regarding its viability, its position in the international environment, as well as for other private airlines in general, while at the same time he participated in relevant International and Greek Conferences and Organizations. Successful and long-term engagement with issues regarding private airports / heliports, Low Cost Carriers (LCC), Aircraft Fractional Ownership, Ground handling matters. At his law firm “EMM. GYZIS AND ASSOCIATES”, together with a group of specialized associates he deals mainly with aviation law issues (cooperation with construction companies for commercial aircraft and leasing companies) and tourism law issues, specializing in mass tourism from/ to Greece and occasionally cooperating with Tour Operators. Since 1993, he has founded a number of Greek and foreign airline companies, on behalf of his clients, in accordance with the applicable legal status. He has participated in committees for the drafting of legislation regarding air transport, such as private airports, the Presidential Decree for private heliports and the Basic Legislation of the Aviation Code and he is the General Secretary of the Hellenic Aviation Society. For many years, he has been studying emerging markets, as a consultant for foreign companies, which plan to invest worldwide.

LANGUAGES: English.

MEMBER: Athens Bar Association, International Bar Association, European Society of International Law (ESIL), American Society of International Law (ASIL), British-Hellenic Chamber of Commerce, Greek-American Union, Hellenic Aviation Society.

PRACTICE AREAS: Aviation Law, Aerospace Law, Tourism and Transport Law, (European) Commercial and Company Law. Arbitration. Establishment and Operation of foreign companies in Greece. Project Finance. Free Movement of Capital. Privatization. Foreign/ Hotel Investments. Mergers and Acquisitions.

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