On April 11th, 2017, FRAPORT GREECE S.A. (co-owned by the Frankfurt based airport operator Fraport AG and Copelouzos Group) undertook the operation of the 14 regional airports following an international tender that was conducted by Hellenic Republic Asset Development Fund (HRADF).
An upfront concession fee of €1.530 billion – the biggest concession fee in Greece’s history – was paid to HRADF by FRAPORT GREECE S.A. for the management, operation, and development of the airports. During the concession period the following payments will additionally be made, on an annual basis:

• Payment of €22.9 million, inflation adjusted.
• An amount equal of 28.5% of EBITDA.
• Payments to Hellenic Civil Aviation Authority and the Hellenic Air Force.

Within the first 4 years, investment works totaling circa €400 million were implemented, while for the entire duration of the concession the works exceed the amount of €1.4 billion. The investment works comprise the upgrade, refurbishment, expansion of terminals as well as the construction of new terminals, per case, in addition to the upgrade of the runways and the airports apron. The implementation of investment programme was fully completed by 2021, ahead of the original schedule.

FRAPORT GREECE S.A. personnel numbers 700 employees allocated to the headquarters and the 14 regional airports.

Moreover, it is estimated that circa 14.000 new job positions were emerged due to the subsequent activities that were developed because of the growing tourism and the additional surge of tourist facilities around the areas of the regional airports that invigorated the local communities.

The impact of the operation of FRAPORT GREECE S.A. on the country’s GDP is particularly significant, since it is estimated that within a single year it exceeded €300 million and in the medium term it is estimated to exceed €600 million.

FRAPORT GREECE S.A. has assumed the operation, management, maintenance, and development of the airports of Aktio, Chania, Kavala, Kefalonia, Kerkyra, Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos.