New Agreement for Upgrading Cyprus Airports
December 23, 2024
The government and the airport management company Hermes signed an agreement to implement the second phase of infrastructure works at Larnaca and Paphos airports. The projects are expected to be completed in 30 and 27 months respectively, providing a 70% increase in passenger capacity. The state will save 400 million euros in compensations while significant improvements in infrastructure are expected. The new agreement appears to be more favorable for the state compared to previous proposals.