In December 2015, the privatisation of Corfu International Airport and 13 other regional airports of Greece was finalised with the signing of the agreement (as a joint venture) between Fraport AG/Copelouzos Group and state privatisation fund Hellenic Republic Asset Development Fund. "We signed the deal today," the head of Greece's privatisation agency HRADF, Stergios Pitsiorlas, told Reuters. According to the agreement, the joint venture will operate the 14 airports (including Corfu International Airport) for 40 years as of 11 April 2017.