A consortium of financial institutions signed a long-term agreement worth approximately 1 billion euros with Fraport Greece to finance the 40-year concession contract of the 14 Greek regional airports, according to a Black Sea Trade and Development Bank announcement on Monday. 

Fraport Greece has released plans regarding the projects and development works for the upgrade of the facilities of the 14 Greek regional airports it will soon manage and operate. According to the company’s comprehensive plan, the upgrade works will contribute significantly to improving the overall customer travel experience at the Greek airports, while responding to the expected increase in passenger traffic.

The need to achieve a close cooperation with the local government to achieve common goals was expressed by Fraport Greece CEO Alexander Zinell, during his visit to the city of Kavala, whose airport is among the 14 regional airports the company will lease and operate under a 40-year concession deal signed with Greece’s privatization agency HRADF.