Airports Fraport Greece officially takes over control of 14 airports

  • Fraport

Fraport Greece commenced the 40-year concession for managing and developing 14 regional airports on the Greek mainland and holiday islands.

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The company paid the upfront concession fee of €1.234 billion – the biggest concession fee in Greece’s history – to the state-owned Hellenic Republic Asset Development Fund (HRADF). Along with this upfront fee, an annual fixed concession fee of €22.9 million will be paid to the Greek State, as well as a variable annual fee based on 28.5 percent of Fraport Greece’s yearly operational profit.

Fraport Greece is owned by the Frankfurt based Fraport AG (73,4%) and the Copelouzos Group (26,6%).

The 14 Greek regional airports served a total of 25.3 million passengers in 2016, an increase by nine percent year-on-year. Fraport Greece will operate, manage and develop the airports over the next four decades – with responsibility for aviation as well as non-aviation areas. The mainland airports include Aktion (PVK), Kavala (KVA) and Thessaloniki (SKG), Greece’s second largest city. The eleven island airports are located in Kerkyra/Corfu (CFU), Chania/Crete (CHQ), Kefalonia (EFL), Kos (KGS), Mytilene/Lesvos (MJT), Mykonos (JMK), Rhodes (RHO), Samos (KGS), Santorini (JTR), Skiathos (JSI) and Zakynthos (ZTH).

Fraport Greece plans to invest €400 million for improving and expanding the airports’ infrastructure over the next 48 months.

Source © fraport.com

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