In April 2014, Fraport Greece undertook the expansion, modernization and upgrade of the country’s 14 regional airports, namely Zakynthos, Chania, Aktio, Kavala, Samos, Rhodes, Thessaloniki, Skiathos, Mytilene, Kefalonia, Mykonos, Corfu, Kos and Santorini. The works started immediately and gradually the improvement of the services was obvious without even affecting in the least the proper operation of the airports.
From Corfu to Rhodes and from Thessaloniki to Chania in the last six years the work did not stop at all resulting in 11 of the 14 airports to be completed.
Initial estimates for the cost of upgrading the 14 airports were 330 million euros, but as work progressed, the amount was re-estimated at 415 million euros. But again Fraport Greece did not stop there, as according to company circles the final amount of the investment program will amount to 440 million Euros.
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Based on the calculations from the relevant models that Fraport Greece has run, the total direct revenue at a depth of 40 years (duration of the concession of the airports to the company) for the Greek State, will amount to about 10 billion Euros. This is because the better, more comfortable, safer and friendlier the infrastructures of a tourist country for travelers, the more attractive its destinations become.
The result will be an increase in the percentage of visitors to airports and consequently an increase in occupancy in hotels, restaurants, museums and beaches.