At the recommendation of the Minister of National Economy and Finance, Kyriakos Pierrakakis, the Cabinet approved the contract for the operation of Kalamata International Airport “Captain Vas. Konstantakopoulos.”
The contract, co-signed by the Greek State, concerns a 40-year concession for the right to administer, manage, operate, develop, expand, maintain, and exploit the airport.
The international tender was announced by the Superfund, and the preferred investor was declared to be the Consortium FRAPORT AG - DELTA AIRPORT INVESTMENTS SA - PILEAS SA, which consists of the following companies:
the German company “FRAPORT AG” (51% stake),
the Greek company “DELTA AIRPORT INVESTMENTS S.A.” (24.5% stake), a company of the Kopelouzos Group,
the Greek company “PILAS S.A.” (24.5% stake), a company of the Konstantakopoulos Group.
The financial terms of the agreement
The preferred investor’s financial offer totals €45.2 million at 2025 constant prices. The majority of the consideration (€45 million) is paid at the beginning of the concession period, confirming the investor’s confidence in the project’s prospects.
The remainder of the financial offer consists of a fixed amount, adjusted annually for the second and third years, as well as a variable amount equal to 0.10% of revenue (with a minimum annual guaranteed payment), which will be paid starting in the fourth year.
In addition, the Greek State, through the Concessionaire (Growthfund), is expected to receive significant dividends arising from the 10% of the concessionaire’s share capital that the original shareholders are required to transfer to Growthfund without consideration.
Investment Plan and Upgrade Projects
The winning consortium is committed to making investments totaling at least €28.3 million during the first three years of the contract, which include:
renovation and modernization projects for existing facilities,
expansion and modernization of the terminal,
construction of a new aircraft parking area on an expropriated plot of approximately 50 acres,
installation of IT infrastructure,
creation of retail stores (Duty Free) and dining areas.
Kalamata International Airport is the main gateway for air tourism in the southern Peloponnese. The transfer of management to the new operator is considered a key prerequisite for the further expansion and tourism development of the wider region.