In 2017, the Fraport Greece joint venture (73.4% of which is owned by German company Fraport AG and 26.6% by Greek company Copelouzos Group) took over 14 public airports in Greece. Under this agreement, Fraport Greece will invest about €400 million into airport modernisation and expansion over the next four years. The airports include those located on the Aegean islands, Kos, Mykonos, Santorini and Rhodes. The project stipulates the construction of five new terminals, runways and the modernisation of baggage handling systems.
“Santorini Airport will be leased by Fraport Greece for 40 years, and will undergo modernisation and expansion as part of the agreement.”
In 2018, German airlines are expected to launch new flights to the Aegean islands. In 2017, 14% of international arrivals in Greece originated in Germany. From March, Lufthansa, the largest German airline, will fly to Santorini from Frankfurt. Starting this summer, German low-cost carrier Eurowing will fly to Rhodes and Kos from Hannover, and Germania will launch flights to Rhodes, Kos and Karpathos.
New transport hubs are also being developed. For example, regional authorities have discussed the possibility of launching a high-speed ferry between Syros and Piraeus and organising new year-round ferry routes to service the Cyclades archipelago: between Syros, Paros and Naxos.