Fraport

Passenger traffic in Greek airports are heading for a new record, with the numbers in the first ten months of the year already surpassing the annual total for 2023, Civil Aviation Authority (CAA) chief Giorgos Saounatsos has said.

Passenger traffic totaled 72.8 million from January to October, an 8.9% increase on the 66.8 million in the same period last year.

Some regional airports will shut down briefly and gradually between November 2024 and February 2025 for runway upgrades, manager Fraport Greece announced on Wednesday.

Passenger traffic at the 14 regional airports managed by Fraport Greece reached 25.64 million passengers in the eight months of this year, up 6.4% compared to the same period last year.

Fraport Greece, the operator of 14 regional airports, saw turnover rise 5.1% to €201 million during the first half of the year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12.2% to nearly €103 million and passenger traffic was 7.8% up, to 12.7 million, with only Mykonos Airport showing a decline. 

Almost €2 billion will be invested by 2028 in expanding Greek airports' capacity in view of the rapidly rising number of visitors.

At the same time, the Hellenic Republic Asset Development Fund (TAIPED) is preparing to sell off some 20 small regional airports to private operators.

The group of 14 Greek regional airports has shown the highest growth rates compared to the rest of the airports in the portfolio of the German group Fraport AG, as stated by the president of the Fraport group, Stefan Schulte during the recent annual general meeting of shareholders that took place at Frankfurt Airport a few days ago.

A double-digit increase was recorded in passenger traffic at all the country's airports in the year's first four months, on an annual comparison basis.

Germany was plunged into disarray on Thursday as strikes erupted across multiple fronts, disrupting travel plans for millions and compounding the economic challenges of a nation already mired in recession.

Fraport Greece, which manages the country's 14 largest regional airports, saw its first-half turnover increase 37.4%, to €191 million, compared to the same period in 2022.

Operating profit (EBITDA) rose 25.3%, to €73 million. Passengers reached 11.8 million, of which 73% were international departures and arrivals.

Frankfurt Airpor operator Fraport on Tuesday said its 2023 core profit would hit the upper half of its forecast range after second-quarter earnings were boosted by strong travel demand. Among Fraport's international portfolio, its 14 regional airports in Greece benefited the most from holiday demand.