The transfer of management of 14 Greek airports to German transport company Fraport has been delayed with a potential due date set for mid-March, according to the latest media reports.
According to capital.gr news site, both parties — Fraport and the Greek government — have agreed to defer the takeover date due to incomplete implementation of technical requirements which are set to ensure a smooth procedure.
According to the 1.2 billion euro concession deal, the 14 regional airports were expected to come under Fraport’s management by the end of this month.
Frankfurt-based Fraport Group inked a 40-year contract in December 2015 to manage the airports at 14 regions across Greece that include three mainland gateways (Thessaloniki, Aktion, and Kavala) and 11 airports on Greek islands (Chania on Crete, Kefalonia, Kos, Mykonos, Lesvos, Rhodes, Samos, Santorini, Skiathos and Zakynthos).
The German operator, which already employs 400 people in Greece, has said it plans to invest over 400 million euros by 2021 for the upgrade and expansion of the facilities at the 14 airports. First on the company’s agenda is the Macedonia Airport in Thessaloniki, which it aims to transform into the company’s flagship. Priorities include major upgrade works to the terminal and trade space with the goal of increasing passenger traffic by 48 percent through to 2026.