The deal to hand over Larnaca and Paphos airports to Hermes Airports Ltd is nearly sealed, as the company moves toward securing financing from a bank for the second phase of development at both airports. Kathimerini understands Hermes Airports is in advanced talks with a bank to secure a loan for the project, pending approval from the Central Committee for Changes and Claims (CCCC), which will give the final go-ahead on the agreement.
Government sources suggest that, at this stage, no issues have been identified in the agreement, with the CCCC expected to give the green light by March 2025. This will effectively mark the start of the second phase of development managed by Hermes Airports.
The government has also consulted the state aid control commissioner to address any concerns about potential state aid related to contract changes. The commissioner is expected to issue a position on this matter to the Ministry of Transport, Communications and Works, enabling the finalization of the deal.
The goal is to increase annual passenger capacity to 12.4 million at Larnaca and 5 million at Paphos, a roughly 70% boost over current capacities.
