Hermes Airports has finalised financing arrangements for the second phase of the expansion of the Larnaca and Paphos airports, marking the beginning of construction works aiming to increase passenger capacity, the company announced on Friday.
The airport operator has signed all necessary agreements with financing banks and has contracted the construction consortium of Bouygues Batiment International SAS and Iacovou Brothers (Constructions) Ltd to undertake the works as outlined in the December 23, 2024 agreement with the Cypriot government.
An independent engineering firm has also been appointed, following a selection process that included participation from the Ministry of Transport, Communications and Works, to monitor construction progress against agreed specifications and timelines.
Construction is expected to take 30 months at Larnaca Airport and 27 months at Paphos Airport, with work teams now being mobilised to commence operations.
The Larnaca Airport expansion encompasses approximately 20,000 square metres of development, including a new wing with arrival and departure gates connected to the main terminal, additional baggage reclaim belts, new passport control and security screening areas, expanded commercial spaces, and increased aircraft parking positions.
At Paphos Airport, the works will increase terminal capacity by approximately 30%. The project also includes extending the southern parallel taxiway to improve operational flexibility.
Upon completion of the second phase of the expansion, Larnaca Airport’s annual passenger capacity will reach 12.4 million, while Paphos Airport will be able to handle 5 million passengers annually.
“Today, we are moving forward with an investment by Hermes Airports, which exceeds €170 million, aiming to upgrade both airports and enhancing their capacity, ensuring they can effectively meet the needs of the new era, extending beyond the end of the current Concession Agreement period,” said Eleni Kalogirou, Chief Executive Officer of Hermes Airports.
Hermes Airports manages both international airports under a concession agreement with the Republic of Cyprus.
