The signing of the Concession Agreement for the Kalamata International Airport “Captain Vasilis Konstantakopoulos,” between the Greek State, the Superfund/Concession Grantor, the Concessionaire AERODROMIO KALAMATAS S.A., and its shareholders, FRAPORT, DELTA AIRPORT INVESTMENTS S.A., and PILEAS HOLDINGS S.A., took place today, Monday, June 22, as part of the Growthfund Investor Summit 2026, marking the start of a new period of growth for the airport, Messinia, and the Peloponnese as a whole.
The project involves the granting, for a period of 40 years, of the right to administer, manage, operate, develop, expand, maintain, and exploit the airport, with the aim of creating a modern aviation hub that meets international standards.
The initial fee amounts to 45 million euros, while the Concessionaire’s total investment program is expected to reach 125 million euros.
The investment plan calls for a comprehensive upgrade of the airport’s infrastructure, which will lead to a significant increase in capacity and improvements in the services provided and the travel experience, thereby helping to further strengthen the region’s tourism offerings, regional development, and international connectivity.
Among the projects to be implemented are:
- Construction of new and renovated facilities with a total area of approximately 11,200 square meters.
- Construction of a new terminal and modernization of existing facilities.
- Increasing the number of check-in counters from 4 to 10.
- Expansion of security and passport control areas in the arrivals and departures halls.
- New aircraft parking area and significant enhancement of operational capacity.
- Development of modern commercial spaces, retail stores, and dining areas.
- Extensive investments in digital and technological infrastructure.
These projects represent the most significant infrastructure upgrade at the airport since the one carried out in 1991.
The signing ceremony was attended by the Minister of National Economy and Finance and President of the Eurogroup, Kyriakos Pierrakakis; the Minister of Infrastructure and Transport, Christos Dimas, the Director General of the Civil Aviation Authority, George Vagenas, and the Director General of the Civil Aviation Authority, Christos Tsitouras. Also present were representatives of the concessionaire and its original shareholders, FRAPORT AG, DELTA AIRPORT INVESTMENTS S.A., and PILEAS S.A., including Charles Weinland, Senior Vice President of FRAPORT AG; Felix Schwarzwälder, Asset Manager at FRAPORT AG; and the CEO and CFO of Fraport Greece, Alexander Zinell and Vangelis Baltas; Christos Kopelouzos, CEO of the Kopelouzos Group; Ioannis Arapoglou, Deputy CEO and General Manager of the Kopelouzos Group; Achilles V. Konstantakopoulos, Chairman of ĒNSOFI S.A.; Marina Papatsoni, Vice Chairwoman of PILEAS S.A. and Executive Vice Chairwoman of ĒNSOFI S.A.; Eugene Dendrinos, Chairman of PILEAS HOLDINGS S.A. and CEO of Costa Navarino S.A., among others. The Superfund was represented by its CEO, Yiannis Papachristou; its Deputy CEO, Panagiotis Stamboulidis; and the Chairman of the Board of Directors, Stefanos Theodoridis.
The agreement was signed, on behalf of the Greek State, by the Ministers of National Economy and Finance, Infrastructure and Transport, and National Defense—Kyriakos Pierrakakis, Christos Dimas, and Nikos Dendias, respectively—with Mr. Dendias unable to attend the ceremony due to prior commitments—and, on behalf of the concessionaire, the managing director of the Superfund.
On behalf of the concessionaire, “Kalamata Airport S.A.,” Alexander Zinell and Evangelos Baltas signed the contract, while Marina Papatsoni, on behalf of “PILEA HOLDINGS S.A.,” Ioannis Arapoglou, on behalf of “DELTA AIRPORT INVESTMENTS S.A.,” and Charles Weinland and Felix Schwarzwälder, on behalf of “FRAPORT,” sign on behalf of the original shareholders and the preferred investor’s investment vehicle/consortium.
Under the concession agreement, the Superfund will immediately acquire, without consideration, a 10% stake in the concessionaire, thereby strengthening the Greek State’s long-term involvement in the airport’s development and ensuring additional value through future dividends.
The initial shareholding structure of “Kalamata Airport S.A.” is as follows:
- FRAPORT AG: 51%
- DELTA AIRPORT INVESTMENTS S.A. (a company of the Kopelouzos Group): 24.5%
- PILEAS S.A. (a company of the Konstantakopoulos Group): 24.5%
Following the transfer of 10% to the Superfund, which will be made proportionally by each existing shareholder, the company’s ownership structure will be as follows:
- FRAPORT AG: 45.9%
- DELTA AIRPORT INVESTMENTS S.A.: 22.05%
- PILEAS S.A.: 22.05%
- Superfund/Growthfund: 10%
The Minister of National Economy and Finance and President of the Eurogroup, Kyriakos Pierrakakis, stated: “A modern airport is a gateway to openness, growth, and investment. Kalamata International Airport “Captain Vassilis Konstantakopoulos,” with steadily increasing passenger traffic and over 92% of its passengers arriving on international flights, is already a key gateway connecting the southern Peloponnese with the world. The investment of 120 million euros—28.3 million euros of which will be made within the first three years—confirms the region’s significant growth prospects, while the National Investment Fund’s 10% stake ensures the government’s active participation in the value created. Kalamata is now gaining yet another powerful driver of growth for the local economy, employment, and the region’s future.”
The Minister of Infrastructure and Transport, Christos Dimas, emphasized: “We aim to strengthen Greece’s presence on the international aviation map and to foster economic progress in a region that has demonstrated remarkable growth momentum in recent years. The Ministry of Infrastructure and Transport is implementing specific improvements to road infrastructure and air navigation systems, which provide essential support for the airport’s operations. Specifically: the new Patras–Pyrgos Highway has been completed; the new Kalamata–Rizomylos–Pylos–Methoni highway is under construction; and the Action Plan for the modernization of air navigation is in full swing. “Through hard work, planning, and the right strategy, our country can harness its potential and attract high-value-added investments.”
The CEO of the Superfund, Yannis Papachristou, highlighted the following regarding the project’s significance: “Today’s signing is a prime example of how the Superfund leverages national infrastructure of strategic importance, as part of its mission to create economic and social value. The planned investment will substantially enhance the traveler experience, strengthen the destination’s competitiveness, and create new opportunities for the local economy, employment, and sustainable regional development.”
Panagiotis Stamboulidis, Deputy CEO of the Superfund, stated: “The Superfund’s 10% stake in the concession company reflects our philosophy of ensuring the Greek government’s active presence in investments that create long-term value. Upon completion of the project, Kalamata will have an airport commensurate with the region’s development potential, featuring modern infrastructure and the capacity to handle increased passenger traffic for decades to come.”
The Director General of the Civil Aviation Authority (CAA), George Vagenas, stated the following: “Today is a historic day for the Civil Aviation Authority, as we are finalizing the signing of the Concession Agreement for Kalamata International Airport “Captain Vasilis Konstantakopoulos” to the concessionaire, Kalamata Airport S.A. We are handing over the management of the airport, which has consistently growing passenger traffic, remarkable momentum, and strong growth prospects. The planned upgrade of the airport’s infrastructure by the new operators will bring added value to the region and, by further strengthening air connectivity, will contribute significantly to the development of the Peloponnese Region and the Greek economy as a whole. I must make special mention of the Superfund and the Consortium for their excellent cooperation and contribution, which made today’s signing possible.”
Alexander Zinell, CEO of Fraport Greece and Kalamata Airport S.A., stated: “Today’s signing of the Concession Agreement marks the beginning of a long-term partnership based on trust, a shared vision, and a commitment to the sustainable development of Messinia and the Peloponnese. On behalf of Kalamata Airport S.A. and its shareholders, we are committed to creating a modern, efficient, and welcoming airport worthy of a destination of international stature. This investment is not only about infrastructure, but primarily about the people, local businesses, and the region’s prospects, creating lasting value for the local community, visitors, and the Greek economy. “We thank the Greek Government, the Superfund, and all stakeholders for their excellent cooperation, and we look forward to implementing a project that will enhance connectivity and make a substantial contribution to the country’s development.”
About the Project
Kalamata “Captain Vasilis Konstantakopoulos” International Airport has been operating since 1959 as a joint-use airport, serving both military and civilian aviation activities. It is the main gateway for air travel to the southern Peloponnese and one of the most important drivers of tourism development in the region. In 2025, it served 368,515 passengers, 92.4% of whom arrived on international flights, marking an 8.7% increase compared to 2024. This upward trend continued in 2026, as passenger traffic increased by 12.7% during the first four months of the year compared to the same period in 2025.