On April 11^th, 2017, FRAPORT GREECE S.A. (co-owned by the Frankfurt based airport operator Fraport AG and Copelouzos Group) undertook the operation of the 14 regional airports following an international tender that was conducted by Hellenic Republic Asset Development Fund (HRADF).

An upfront concession fee of €1.530 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:

• Payment of €22.9 million, inflation-adjusted.
• An amount equal of 28.5% of EBITDA.
• Payments to Hellenic Civil Aviation Authority and the Hellenic Air Force.

Within the first 4 years, investment works totaling circa €400 million will be implemented, while for the entire duration of the concession the works are estimated to exceed the amount of €1.4 billion . 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 700 employees allocated to the headquarters and the 14 regional 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.