With Kalamata being the next major investment bet and Corfu and Kos already on the “radar” for new expansions, Fraport Greece is opening a new cycle of investments in the country’s regional airports.
Kalamata airport moves to the next phase in early November, when the concessionaire is expected to take over its operation, activating an investment program of approximately 125 million euros for the overall upgrade of its facilities.
As noted by Fraport Greece’s General Director of Development, George Vilos, at the 9th Infrastructure and Transport Conference, the plan provides for a new terminal, with capacity approximately triple the current one, as well as extensive interventions in the remaining facilities.
The goal is, according to G. Vilos, for the transition to the new terminal to take place in about two years, with Fraport seeking, also drawing on the experience from the upgrade of the 14 regional airports, to move faster than the contractual timetable.
After the completion of the works, the current facilities will acquire other uses, while the new airport is being designed so that it can support the expected increase in traffic in the coming years.
Hence Kalamata is treated by Fraport as an air gateway not only for Messinia, but for the Peloponnese as a whole, with significant growth prospects.
New cycle of expansions at the 14 airports
At the same time, Fraport Greece is preparing for a second wave of investments in the 14 regional airports it has managed since 2017, as the strong increase in passenger traffic is bringing some of the infrastructure closer to the limits of their capacity.
First in line is Corfu, which is a priority for the next phase of development, followed by Kos based on the evolution of traffic.
This new cycle comes after the completion of the initial upgrade and expansion program for the 14 airports, amounting to approximately 500 million euros, through which, according to management, the overall capacity of the infrastructure increased by about 50%.
At the same time, the company continues to invest approximately 50 million euros annually in upgrade and modernization projects. Over a horizon of about a decade, the total amount of investments in infrastructure is approaching 1 billion euros.
The program for the reconfiguration and upgrade of runways at 13 of the 14 airports is also underway, so that they comply with the newer and stricter standards of the European Union Aviation Safety Agency (EASA), with this specific program now nearing completion.
The performance of 2026
The new investments are directly linked to the course of passenger traffic. After the approximately 37.1 million passengers handled through the 14 airports in 2025, G. Vilos estimates that 2026 will close with approximately 38.7 million passengers, that is, just below the threshold of 39 million.
“2026 is a very good year. It is a good year that follows four other very good years,” G. Vilos stressed, saying that the performance of the 14 airports ultimately appears higher than expectations.
G. Vilos placed particular emphasis on strengthening traffic outside the summer peak. According to the data presented by the head of Fraport Greece, traffic during the months of March, April, October and November has increased by about 30% compared with 2022, a development that corresponds to about 1 million additional passengers and strengthens the effort to extend the tourist season.
The picture is positive in all destinations, while smaller airports, such as Skiathos and Samos, are showing double-digit growth rates. In Thessaloniki, the largest airport in Fraport Greece’s portfolio, traffic is expected this year to move toward 8.2 million passengers, recording a new high.
Since Fraport Greece took over the 14 regional airports, total passenger traffic has increased from about 25 million passengers to levels now approaching 39 million, that is, by about 50%.
Meanwhile, Fraport’s shareholders’ side was also present in the tender for the concession of the 22 state regional airports. According to the announcement of the National Development Fund, among the three schemes that expressed interest in the first phase of the process is the consortium Fraport AG - Delta Airport Investments A.E., of the Copelouzos group.