Fraport Taking Over Management of 14 Greek Airports

Alexander Zinell, Antonios LeousisIn one of the largest privatization acts in Greece, Fraport, a German airport operator, in partnership with the Copelouzos Group of Greece, began the first day of a projected 40-year contract to manage 14 regional Greek airports on April 11.

Part of the project involves €357 million for renovation work on the airports. The goal is to make Thessaloniki's Macedonia Airport, the largest airport under Fraport's authority, its flagship. The makeover of the Thessaloniki airport is projected to increase its ability to handle traffic and cargo by 47% by 2016.

The airports at the 14 regions across Greece include three mainland gateways (Thessaloniki, Aktion, and Kavala) and 11 airports on Greek islands (Chania on Crete, Kefalonia, Kos, Mykonos, Lesvos, Rhodes, Samos, Santorini, Skiathos and Zakynthos).