Fraport Continues Upgrades at 14 Greek Regional Airports, Invests €50m Annually

Fraport Greece will undertake further expansions of the terminals at several of the 14 regional airports under its management, as outlined in the concession agreement with the Greek State, according to George Vilos, the company’s general manager for development.

Speaking at the recent 7th Infrastructures – Transportation ITC 2024 Conference in Athens, Vilos announced that Fraport has invested a total of 500 million euros since 2017 to upgrade and modernize the 14 regional airports. The company is currently investing 50 million euros annually for similar initiatives.

Current investment program: €150 million

Regarding the company’s current investment program, Vilos highlighted plans to install new radar systems at the Chania airport, as well as upgrade 13 airports to comply with the safety standards set by the European Union Aviation Safety Agency (EASA). This investment program is valued at 150 million euros and includes funding from the EU Recovery and Resilience Facility.

2024: A record year

Vilos stated that 2024 is projected to be a record year for Fraport’s airports in Greece, with an anticipated 36 million passengers, surpassing the previous record of 34 million in 2023. This represents an annual increase of approximately 6%, with 85% of travelers on international flights.

The standout performer for 2024 has been the Rhodes airport, which experienced a 13.3% increase in passenger traffic during the first eight months of the year compared to the same period in 2023. Other airports showing significant growth include those in Chania, Corfu, Zakynthos, and Mytilini.

Fraport Greece also manages the regional airports of Aktion, Kavala, Kefalonia, Thessaloniki, Kos, Mykonos, Samos, Santorini, and Skiathos.

Overtourism concerns

When asked about the phenomenon of overtourism, George Vilos remarked that it is misleading and potentially dangerous to claim that Greece as a whole is suffering from this issue.

“There is a problem, but it is concentrated in specific tourist destinations during certain peak periods. If we consider the areas experiencing these challenges, they represent no more than 1% of the total land area of the country. Thus, the issue is clearly isolated,” he explained.

Importance of infrastructure and planning

Vilos emphasized the necessity for improved infrastructure in Greece and comprehensive planning for its tourist market.

“Tourism has flourished in recent years, and we believe this trend will continue. However, to sustain this growth, we must be aware of the capabilities of each destination and plan for the future,” he stated, adding that Greece’s tourism offerings must become more differentiated and that the tourist season needs to be extended further.