Promoting Greece Top Priority for Fraport Airports Manager

Rhodes International Airport – Diagoras/ Photo © Piotrus – Wikimedia Commons

Promoting Greece into a leading destination is at the top of Frankfurt-based transport group Fraport’s agenda after taking over the management of 14 regional airports across the country late last year, said its CEO Stefan Schulte.

Speaking at a Greek-German Chamber of Commerce and Industry event held in Athens on Tuesday, Schulte, also chairman of the executive board, said the project undertaken by Fraport is a major investment at a challenging time for the Greek economy as the deal foresees the payment of 1.234 billion euros in capital and an annual rent of 22.9 million euros on top of EBITDA yields.

“It took courage and boldness to make this investment in cooperation with our Greek partner, the Copelouzos Group. We love Greece, we believe in the country, its potential and future,” said Schulte.

Schulte added that by 2020 investments in the 14 airports will amount to 330 million euros and annual growth is estimated at a rate of 3-5 percent boosting destination-specific tourism and opening new jobs. “The entire investment plan meets the needs of local communities as it is expected to promote each region as a separate tourist destination,” he added.

“We are investing and the resultant infrastructure will remain in the country. We are committed to Greece for the next 40 years and our investment will pay off as long as there is growth.”

The 14 Greek regional airports in question include three mainland gateways (Thessaloniki, Aktion, and Kavala) and 11 airports on Greek islands (Chania on Crete, Corfu, Kefalonia, Kos, Mykonos, Mytilini, Rhodes, Samos, Santorini, Skiathos and Zakynthos).