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German transport company Fraport will be managing 14 regional airports in Greece, which includes three mainland gateways- Thessaloniki, Aktion, and Kavala- and 11 airports on Greek islands – Chania in Crete, Kefalonia, Kos, Mykonos, Lesvos, Rhodes, Samos, Santorini, Skiathos and Zakynthos.

The 40 year, 1.2 billion euro deal, which was signed December 2015 was to be implemented by the end of the month with the complete transfer to Fraport but latest media reports suggest there are delays due to incomplete implementation of technical requirements which are set to ensure a smooth procedure.

According to news site, both parties — Fraport and the Greek government — have agreed to defer the takeover date, many suggesting March as the possible month.

Fraport, which already employs 400 people in Greece, has said it plans to invest over 400 million euros by 2021 for the upgrade and expansion of the facilities at the 14 airports. First on the company’s agenda is the Macedonia Airport in Thessaloniki, which it aims to transform into the company’s flagship. Priorities include major upgrade works to the terminal and trade space with the goal of increasing passenger traffic by 48 percent through to 2026.

GCT Team

This article was researched and written by a GCT team member.