Fraport Greece Unveils €600M Investment Plan to Upgrade Regional Airports

Fraport Greece is planning to further upgrade the airports it manages over the next five years. The management company is set to implement investments totaling 600 million euros, primarily focusing on increasing the capacity of four regional airports.

Details of the investment plan will be finalized within the next three months, with initial estimates suggesting they will exceed 200 million euros.

The company’s General Manager of Commercial and Business Development, revealed that the company is looking into expanding terminal facilities at the airports of Kos, Corfu, Mykonos, and Santorini. As reported these regional airports have reached their ‘limits’ due to significant growth in passenger traffic since Fraport took over their management.

These investments add to the 50 million euros Fraport spends annually on infrastructure improvements across all airports, alongside ongoing programs totaling 150 million euros. Overall, over the next five years Fraport Greece is estimated to invest 600 million euros including all its planned projects.

Sustainability is a core priority, as outlined in the company’s 2030 strategy, which includes specific quantitative and qualitative targets. Fraport aims to achieve decarbonization by 2045, with intermediate goals of a 42% reduction in CO2 emissions by 2030 and an 80% reduction by 2040.

As part of this effort, the company is implementing a carbon reduction program, which includes installing photovoltaic systems at all airports and managing terminal energy consumption. Plans also include electrifying the vehicle fleet used at these facilities.

The managing company is also focusing on boosting passenger traffic in collaboration with industry stakeholders such as Marketing Greece. The aim is to promote the country’s tourism destinations, attract new airlines, increase flight routes, and enhance inbound tourism.

Fraport Greece’s positive strategy is evident in its 2024 results, with the company having achieved a new record of 36.5 million passengers, an increase of 6% compared to the last year.

Source: tovima.com