The signing of the concession agreement for Kalamata International Airport “Captain Vassilis Konstantakopoulos” International Airport, as part of the investment consortium comprising the Fraport, Konstantakopoulos, and Kopelouzos groups, which took place during the third Growthfund Investor Summit.
The concessionaire’s total investment program is expected to amount to 125 million euros, with the initial fee set at 45 million euros.
Parliament’s ratification of the contract—the next step toward the official handover of the airport to the Fraport–Konstantakopoulos–Kopelouzos consortium—is expected to pave the way for the start of the concession period. However, given the current circumstances—in the middle of the tourist season—the completion of the necessary procedures and the transition to the new operator are expected to take place starting in early fall.
Already, however, the investment consortium has taken preliminary steps to lay the groundwork for the future, with actions related to staffing and the first upgrades to the airport.
At the core of the Fraport–Konstantakopoulos investment plan - Kopelouzos consortium is the 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, contributing to the further strengthening of the tourism product, regional development, and the region’s international connectivity.
“This concession marks ‘the first privatization in which the Superfund (editor’s note: National Development Fund, as it has been renamed) retains a stake in the new structure,” said Panagiotis Stamboulidis, the Fund’s deputy CEO.
The initial ownership structure of “Kalamata Airport S.A.” is as follows: Fraport AG: 51%, Delta Airport Investments S.A. of the Kopelouzos Group: 24.5%, and 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 shareholding structure will be as follows: Fraport AG: 45.9%, Delta Airport Investments S.A.: 22.05%, Pileas S.A.: 22.05%, and the Superfund: 10%.
“With today’s signing, ‘Captain Vasilis Konstantakopoulos’ Airport is set to embark on a new era of growth. The transfer of its management to an investment consortium with international experience in airport operations and the development of tourist destinations creates the conditions for a substantial upgrade of its infrastructure and services. “I am confident that, under the guidance of the concessionaire, Kalamata International Airport will evolve into a model regional airport and a benchmark for Greek tourism,” emphasized Stefanos Theodoridis, chairman of the board of directors of the National Development Fund.
“Kalamata’s Captain Vasilis Konstantakopoulos International Airport has already outgrown the scope of a local facility, with steadily increasing passenger traffic, and more than 92% of passengers arriving on international flights. “It has become a key gateway connecting the Southern Peloponnese with the world,” said Kyriakos Pierrakakis, Minister of National Economy and Finance and President of the Eurogroup, while Christos Dimas, Minister of Infrastructure and Transport, noted: “We hope that this agreement will strengthen Greece’s presence on the international aviation map and support economic progress in a region that has shown remarkable growth momentum in recent years.”
“The signing of this agreement is much more than the completion of a successful bidding process. It marks the beginning of a long-term relationship and partnership based on trust, a shared vision, and a common commitment to sustainable development and regional prosperity,” said Alexander Zinell, CEO of Fraport Greece and Kalamata Airport S.A., Alexander Zinell. Kalamata Airport is essentially the 15th airport in Fraport Greece’s portfolio.
It should be noted that the signing of the concession agreement for the “Captain Vassilis Konstantakopoulos” took place between the Greek State, the National Development Fund (as the Superfund is now renamed), the concessionaire Kalamata Airport S.A., and its shareholders, Fraport AG, Delta Airport Investments S.A. of the Kopelouzos Group, and Pileas Holdings S.A. of ENSOFI, part of the Konstantakopoulos Group.
Investments of 100 million euros
The need for a new cycle of infrastructure investments, so that Greek tourism can continue on its growth trajectory, was highlighted during a discussion attended by the CEO of Fraport Greece and Kalamata Airport S.A., Alexander Zinell, noting that certain destinations have now begun to reach the limits of their capacity.
As he noted, Fraport Greece has invested approximately 1.7 billion euros in the country’s regional airports over the past decade, while continuing to allocate significant funds—around 100 million euros annually—for both maintenance and infrastructure capacity expansion. These investments, he noted, have contributed to a significant increase in passenger traffic, with the airports’ annual passenger count rising from 25 million to approximately 38 million. “We have served 260 million passengers since the start of the concession agreement. By the end of the concession, we will likely have served over 1 billion passengers,” he emphasized.
However, he stressed that the further development of tourism requires interventions at all levels of infrastructure, as existing capacities are being strained in several regions. “We must strike a balance between private investment and public infrastructure,” he said, adding that Greece has significant potential for developing new destinations, as there are still untapped opportunities.