Alecos Michaelides on Larnaka and Pafos airport | Cyprus
World Finance interviews Alecos Michaelides, Permanent Secretary for the Cyprus Ministry of Communications and Works, on the Larnaka and Pafos Airport development
The Larnaka and Pafos Airport development was Cyprus’ first major public-private partnership deal. But a long delay after the bidding process meant costs had increased when the government began negotiations with the winning bidder, reducing the percentage concession fee. Alecos Michaelides explains how the government overcame these challenges, and how the privatisation of Cyprus’ airports has affected the economy.