CEO Schulte: Fraport investment sends positive message to global funds

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CEO Schulte: Fraport investment sends positive message to global funds

Fraport AG’s investment in Greece’s 14 regional airports sends a positive message to the international investment community, the company’s CEO Dr.  Stefan Schulte said on Wednesday, during a press conference on the official handover of the airports to the German operator. 

Schulte said the project offers a very strong base for the development of the Greek economy and the country. “We are at the starting point of a success story for Greece, for the airports, for tourism, for the employees,” he said. 

On his side, Fraport Greece CEO, Alexander Zinell, said that work is already being undertaken at the regional airports which “will be unrecognizable” after four years. “We will bring excellence at the airports,” he said. 

Concerning the handover process, he said things went smoothly. “Two days ago we achieved something that many people thought was impossible. We took over the operation of 14 regional airports, all in one go. On the night of the April 10 to April 11,” he said.

Zinell said work has already started for next summer on improved signage, improved sanitation and fire safety and cleaning. On the second half of the year, the company will continue construction work. 

Catalyst for the development of Greek tourism

He also described the airports will be the catalyst for the development of Greek tourism, and other professional sectors. It has been proven that with proper management airports function as dynamic "economic engines" for the regions they serve, he noted.

Taking the floor, Copelouzos Group Chairman and Managing Director, Dimitris Copelouzos, said the project will open the way for bringing funding to Greece. 

“With the concession of the 14 regional airports to Fraport Greece, Greece essentialy returned to the markets, given that our investment is financed by international banks. We are opening the door for lending to come to Greece. The concession of the 14 airports will be the springboard for re-launching the economy,” he told journalists. 

He pointed out that Fraport Greece offered the highest bid for the airports and won the tender. “We don’t take money, but we paid upfront 1.234 billion euros and for the next four years we will invest 100 million euros per year to expand and reconstruct the airports. In the coming years, we will also implement investments totaling 1.4 billion euros, while according to studies, it is estimated that at least 70,000 people will be involved directly or indirectly with the regional airports,” he said. 

Fraport Greece will operate, manage and develop the airports over the next four decades. The airports included in the concession are: Aktion, Kavala, Thessaloniki, Corfu, Chania, Kefalonia, Kos, Mytilene/Lesvos, Mykonos, Rhodes, Samos, Santorini, Skiathos and Zakynthos. 

Read more here.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

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