Blackstone, a global investment firm, has acquired Fraport Greece for $235.9 million. Fraport Greece is responsible for the operation, management, upgrading, and development of 14 regional airports across Greece. These airports, including key gateways such as Mykonos, Santorini, and Thessaloniki, serve as vital infrastructure connecting Greece to global destinations.
Fraport Greece commenced its 40-year concession in 2017, following a €1.234 billion upfront payment. Since then, the company has undertaken a comprehensive €440 million development program. This extensive modernization effort has delivered five new terminals, expanded and upgraded five existing terminals, and improved four others. Airside operational areas have also seen significant enhancements, including renovated runways, improved ramp areas, and new fire stations, alongside the installation of state-of-the-art baggage handling and security systems across all 14 airports.
This acquisition by Blackstone underscores the strategic value of Fraport Greece's established infrastructure and its long-term concession agreement. Fraport Greece plays a crucial role in boosting the Greek economy by enhancing the international competitiveness of its airports through optimized operational processes, modernized infrastructure, and continuous employee training.
The acquisition is expected to leverage Blackstone's investment expertise with Fraport Greece's operational capabilities. The combined entity will aim to ensure the continued development and operational excellence of these critical Greek airports, supporting their role as economic drivers and key entry points for tourism and commerce.