As it continues with plans to privatize two of its leading airports, the French government has received at least six bids for its 60-percent ownership stake in Aéroports de Lyon, the company controlling both the French city’s main St. Exupéry Airport and Lyon Bron, which are popular with business aviation operators. French authorities also have received three bids for its 60-percent stake in Nice Cote d’Azur Airport. According to a report by news agency Reuters, the move—announced in March—is intended to raise cash to help the country meet budget deficits. The airports are the busiest outside the Paris area.
Based on current valuation, Nice is worth at least €1.5 billon ($1.7 billion), with the French share equating to approximately €900 million ($1 billion), while the Lyon airports could be valued at €900 million, with the government ownership stake estimated at around €540 million ($609 million). According to the report, three of the bidding groups have entered offers for both properties. A second round of bids is due by July 4.