Greek Regional Airports

Concession of the 14 Greek Regional Airports


On April 11th, 2017, Fraport Greece S.A. (73.4 percent owned by the Frankfurt based airport operator Fraport AG and 26.6 percent by Copelouzos Group) undertook the operation of the 14 largest regional airports following an international tender that was conducted by Hellenic Republic Asset Development Fund (“HRADF”).
An upfront concession fee of €1.234 billion – the biggest concession fee in Greece’s history – was paid to HRADF by Fraport Greece S.A. for the management, operation and development of the airports. During the concession period the following payments will additionally be made, on an annual basis: (i) payment of 22,900,000 euros, inflation-adjusted, (ii) an amount equal of 28.6% of EBITDA, and (iii) payments to Hellenic Civil Aviation Authority and the Hellenic Air Force.
Within the first 4 years, investment works totaling circa 400 million euros will be implemented, while for the entire duration of the concession the works are estimated to exceed the amount of 1.4 billion euros. The investment works comprise the upgrade, refurbishment, expansion of terminals as well as the construction of new terminals, per case, in addition to the upgrade of the runways and the airports apron. The implementation of the investment program has commenced and there are already tangible improvements to the airports, which will be fully refurbished by 2021.
Fraport Greece’ S.A. personnel numbers 608 employees allocated to the headquarters and the 14 regional airports. The new job positions cover all related disciplines and expertise at all levels, to ensure the uninterrupted operation of the airports.
Moreover, it is estimated that circa 1000 new job positions will emerge due to the subsequent activities that will be developed because of the growing tourism and the additional surge of tourist facilities around the areas of the regional airports that will invigorate the local communities.
Fraport Greece S.A. has assumed the operation, management, maintenance and development of the airports of Aktio, Chania, Kavala, Kefalonia, Kerkyra, Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos. Combined these airports served in 2018 more than 29.877.203 passengers.
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