Fraport: New Investments to Expand Capacity at Key Greek Airports

Photo © Greek Travel Pages (GTP)

Fraport Greece will enhance its investments in four of the 14 regional airports it manages in Greece, with a focus on expanding capacity. This development was announced by Fraport Greece CEO Alexander Zinell during the 7th Athens Investment Forum last week.

Zinell outlined that the targeted airports include Santorini, Mykonos, Corfu, and Kos, with the upgrades funded through Fraport’s annual 50- million-euro investment program.

“Infrastructure improvement is an ongoing process,” Zinell said, explaining that the planned upgrades will enhance passenger, check-in, and baggage handling facilities to meet rising demand. He added that, since Fraport assumed management of these airports in 2017, their overall capacity has increased by 42 percent and is now being fully utilized.

“This is the other side of Greece’s remarkable tourism growth over the past 10 to 15 years,” he noted.

Fraport Greece CEO Alexander Zinell. Photo source: 7th Athens Investment Forum

Addressing questions on extending Greece’s tourism season, Zinell stated that Fraport Greece is actively collaborating with local communities and authorities to prolong the season until the end of November.

Record-breaking passenger traffic

Fraport Greece General Manager George Vilos recently presented data showing that passenger traffic across the company’s 14 airports is projected to reach a record 35.9 million this year. Of these travelers, approximately 80 percent will be international arrivals, a substantial rise from 7 percent in 2016. Additionally, around 31 percent of domestic travelers are international visitors.

Excluding Thessaloniki, passenger traffic across the other 13 regional airports increased by 26.2 percent in October 2023 compared to the same period in 2019, and by 17.7 percent for November last year relative to November 2019.

Despite the Covid-19 pandemic, Fraport airports in Greece have maintained an average annual growth rate of 4.5 percent between 2016 and 2024, having served a total of 215 million travelers since 2016.

Photo source: Fraport Greece

Expanding the portfolio: Kalamata Airport

Fraport Greece, in partnership with Delta Airports Investments (a subsidiary of the Kopelouzos Group) and Pileas (of the Konstantakopoulos Group), has submitted a bid to the Hellenic Republic Asset Development Fund (HRADF) for the management of Kalamata Airport.

As the sole bidder, a decision on the concession is anticipated by year’s end, with Kalamata Airport expected to transition to the new management by mid-2025.

Ongoing upgrades to infrastructure

In addition to these initiatives, Fraport Greece is currently renovating and upgrading runways at the airports in Zakynthos, Kavala, Kefalonia, Corfu, Mykonos, Santorini, Samos, Rhodes, and Mytilini. These projects are partially funded by the EU Recovery Facility.

Fraport Greece CEO Alexander Zinell (far right) with other panelists at the 7th Athens Investment Forum. Photo source: 7th Athens Investment Forum

Held November 5 at the Athens Concert Hall (Megaron), the 7th Athens Investment Forum is an event held annually to promote sustainable investment strategies and innovation across key sectors in Greece, including energy, infrastructure, and tourism.

Organized by the Technical Chamber of Greece (TEE), the forum serves as a platform for business leaders, government officials, and industry experts to discuss Greece’s economic landscape and explore growth opportunities that align with environmental and technological advancements.