• Ilma Danielienė

Fraport Greece Completes Renovation Works at 11 of 14 Greek Regional Airports

According to a recent announcement by Fraport Greece, the company has completed renovation works at 11 out of 14 Greek regional airports including the airports of Aktio, Chania, Corfu, Kavala, Kefalonia, Zakynthos, Mytilini, Mykonos, Rhodes, Samos and Skiathos.

Athens, Greece: 14 September 2020



Based on the Fraport concession of 14 regional airports, renovation works are being performed with a total budget of € 440 mln. Three Greek airports are still being renovated, with works estimated for completion by March 2021:


  • Kos

  • Thessaloniki

  • Santorini

The Executive Director of Fraport Greece, Mr. George Vilos, expressed his concern about the air travel situation due to the COVID-19 pandemic. He noted that from the end of March and onward, passenger traffic at the airports managed by Fraport Greece fell between 90%-95%. Overall passenger traffic decreased to 5.5 mln passengers, a fall of 75%, at the 14 airports managed by Fraport in the first 8 month of 2020. In 2019, in contrast, the 14 airports welcomed 21-22 mln passengers.

Mr. Vilos expressed his belief that Greece’s tourism product will see intense competition from other countries. Fraport is in discussions with the Greek Tourism Ministry, Greek regions, city tourism organizations and hotel associations to develop a strategy for attracting airlines and developing new routes.

According to Mr. Vilos, the crisis in Greece was managed exceptionally from a health point of view. Foreigners saw Greece as a safe destination while seeing problems in other competing destinations.

Thessaloniki’s airport saw an increase in passenger traffic by 8.6% compared to 2018. In 2019, it attracted 4.7-4.8 mln international passengers compared to 4.1 mln in 2018. During the first two month of 2020, Thessaloniki airport had a 14% increase of tourists from abroad, before the coronavirus hit.

Navigator Consulting supports tourism investments in Cyprus and Greece, and has extensive experience in due diligence on tourism and property investments. Please contact us for more information.

For further information, please contact:

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

Fraport Greece Completes Upgrade Works at 11 Regional Airports

Greek Travel Pages. 14 September 2020

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