On Friday, June 23, Minister of State Serge Telle, accompanied by Jean Castellini, Minister of Finance and Economy, signed an agreement sealing the Principality’s investment in Azzurra Aeroporti, majority shareholder of Aéroports de la Côte d’Azur, to the tune of €135 million.
Monaco will hold a stake of 12.5 percent and the transfer of funds will take place in July.
In September 2016, the French government awarded the majority stake in Nice-Côte d’Azur Airport and other public airports on the Riviera to Azzurra Aeroporti, which is a Franco-Italian consortium.
Serge Telle said that the Prince’s Government was happy to become a shareholder in the Nice airport and to participate in its long-term development. Monaco views Nice Airport as being of strategic importance as it is by far the principal air gateway to the Principality.