Athens Airport cuts airline refueling fee by 5 percent

ATHENS, Greece (AP) -- Athens International Airport cut the cost of refueling there by 5 percent on Friday.

Athens International Airport SA and Olympic Fuel Co. SA said the reduction was effective immediately.

This is a ''joint effort to support airlines and enhance the competitiveness of aviation fuel prices at the airport,'' the operators of Athens Airport and OFC said.

The two companies had already reduced the cost to refuel at Athens Airport by 23 percent at the beginning of 2005. The overall reduction in the fee this year so far is expected to save airlines refueling at the airport US$3.7 million (euro3.06 million), the two companies said.

The Greek state has a 55 percent stake in Athens Airport and is looking to sell part of its holding in 2007. German construction company Hochtief AG, which has management control of AIA, has a 40 percent stake.