The two largest airport operators in Greece, Athens International Airport (AIA) and Fraport Greece plan to invest an estimated combined amount of €3 billion over the next few years to expand and solidify their positions in an increasingly competitive commercial aviation market.
Specifically, AIA is set to invest €1.35 billion with the goal of increasing the air terminal’s passenger handling capacity to 40 million, while Fraport Greece, which currently operates 14 Greek regional airports, will invest another €150 million in the next few years, adding to the €500 million already spent. The company’s total investment for the duration of its concession will reach €1.3 billion, focusing on further modernizing the 14 airports under its control.
During the 28th annual North America/Central Europe Airport Issues Conference (IAAE), held this year in Athens, it was revealed that by 2040, global air passengers will reach 17.8 billion, up from 9.5 billion in 2024. Greek airports are vying for a significant share of this surge with air traffic growing at an annual rate of 4%.
Speaking at the conference, Yiannis Paraschis, CEO of Athens International Airport, noted that this year’s passenger traffic at the country’s largest airport will exceed 31.5 million—a figure that represents significant growth compared to 2019.
Athens International Airport (AIA) is expected to experience further expansion in flight operations in 2025 from the United States. American Airlines has announced the addition of Charlotte as a new route to Athens next summer, making Charlotte a new destination for the airport. This will expand AIA’s strong U.S. network to eight destinations, up from seven this year.
George Vilos, General Director of Development at Fraport Greece, stated that in 2024, the 14 airports under Fraport’s management are expected to serve 35.9 million passengers, marking a 6% increase compared to last year. He added that 80% of the passengers are international, up from 70% in 2016. Vilos also highlighted that, compared to 2019, Fraport effectively extended the 2023 tourist season, with a 15% increase in passenger traffic during March and April and a 25% rise in October and November.
