Government, Hermes Extend Airport Deal To 2033

The Cypriot government and Hermes Airports have extended their agreement to manage Larnaca and Paphos airports until 2033.

This deal resolves financial disputes and initiates major expansion projects, including a 20,000 m² terminal expansion at Larnaca and a 30% increase in Paphos terminal space.

Construction begins in early 2025 and aims to boost passenger capacity by 43%, from 12.2 to 17.4 million annually. These upgrades, expected to finish within 27-30 months, will modernize infrastructure, enhance passenger experience, and bolster Cyprus' economy and tourism sector.

The €30 million compensation and €20 million loan settle pending claims, fostering long-term aviation and economic growth.

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