Kefalonia Airport now 65% complete and ‘on track’ for full completion by end of 2019

Check in at Zakynthos Airport
Up to the end of the year we will have completed the upgrade and expansion work at airports of Samos, Skiathos, Mytilene, Rhodes and Kefalonia, which is among the 14 regional airports that have been granted in Fraport Greece.

The company’s investment program envisions the implementation of 120m euros in 2019 to upgrade infrastructure at six airports. In addition to the five airports where investments are ongoing, work on Aktio has also recently been completed. They include, inter alia, the extension of the terminal by 2,381 sqm, the increase of check-in and gate stations, by 75% and 60% respectively, and the doubling of security and control points.

With the investments planned for this year, infrastructure and services at nine of the 14 airports managed by the company will have been significantly modernized, with 2018 being delivered to Chania’s Zakynthos passengers and airports. and Kavala.

By 2020 another five projects at airports will be completed
The projects at the remaining five airports (Thessaloniki, Corfu, Santorini, Mykonos, Kos) that operate Fraport Greece are expected to be completed by the end of 2020. Upgrading the infrastructure of these airports is a demanding task given the scope of the projects.

At Macedonia Airport, for example, a new 34,000sqm terminal is being built, which is 10,000sqm larger than the existing one. When the 100 million euro investment is completed, Thessaloniki Airport will be able to handle more than 10 million passengers annually. In 2018, passenger traffic in Macedonia amounted to 6.7 million.

Overall, progress rates for the 14 regional airports are as follows: 

Chania Airport (CHQ): 100%
Zakynthos Airport (ZTH): 100%
Kavala Airport (KVA): 100%
Actio Airport (PVK): 100%
Skiathos Airport (JSI): 99%
Samos Airport (SMI): 80%
Rhodes Airport (RHO): 75%
Mytilene Airport (MJT): 75%
Kefalonia Airport (EFL): 65%
Corfu Airport (CFU): 60%
Kos Airport (KGS): 55%
Mykonos Airport (JMK): 55%
Santorini Airport (JTR): 35%
Thessaloniki Macedonia Airport (SKG): 35%

The benefits of investing in regional airports
In addition to the € 1,234 billion one-off and the € 415 million to be allocated by 2021 for infrastructure upgrades , Fraport Greece is expected to invest an additional € 1 billion in infrastructure by the end of the concession period.

As early as April 2017 – when it took over the operation of the airports – the company has paid to the State contributions and taxes of employees exceeding 21m euros. The amount of income tax and other taxes amounts to 21.3m euros, while 15.2m euros will be paid in 2019.

Upon completion of the investments, Fraport Greece’s 28.5% EBITDA will be returned to the State.

What is the contract with Fraport for regional airports
As stipulated in the concession, the user fees for each passenger departing from the 14 airports will increase from € 13 to € 18.5 when investment is completed by 2021. The airport was launched last April by the airports where the projects they have been completed, namely in Chania, Kavala and Zakynthos.

Much of the airfare ends up in the State, while under the concession agreement of the 14 regional airports the State also collects 1 euro from the fee per departing passenger to finance the rough air services. It is indicative that Fraport Greece alone paid € 15 million in 2018 for the financing of arid lines.

The contribution of the Fire Brigade to security is significant
The company also pays about 13m euros annually to the Fire and Air Force for the provision of services.In recent months at the expense of Fraport Greece five modern vehicles have been added to the fleet, equipped with state-of-the-art EURO 6 engines with 7,000 liters of water, 860 liters of foam, 250kg of dust, a dual passenger compartment and a five-passenger port. 

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