The European Commission has authorised Greece, under EU State aid rules, to extend by 20 years the concession granted to AIA to operate Athens International Airport. The fee AIA will pay for the extension respects market conditions, and therefore AIA receives no undue economic advantage or aid. Commissioner Margrethe Vestager, in charge of competition policy, said: "The Commission has found that the 1.1 billion euro fee that will be paid by AIA for the 20 year extension of the Athens airport concession corresponds to a market price. This means that AIA will not benefit from any State aid in the form of an unduly low fee for the concession. The Commission cooperated actively with the Greek authorities to reach this positive result, which is one of the most important economic transactions under the Greek privatisation programme." Athens International Airport Eleftherios Venizelos is operated by the Athens International Airport S.A. (AIA) under a concession agreement covering the period 1996 to 2026. Under the measure notified by Greece to the Commission, this concession will be extended until 2046, against the payment of an increased fee.