Government and Hermes Reach Agreement for Cyprus Airports
September 12, 2024
The Cyprus government and Hermes Airports have reached a preliminary agreement regarding the second phase of the infrastructure works at Larnaca and Paphos airports. The agreement includes an 18-month extension for airport management until December 20232. Additionally, Hermes will receive a compensation of 30 million euros while waiving claims that amounted to 400 million euros. This agreement emerged after intensive negotiations that lasted for 12 months.