Fraport Greece, the company managing the country’s 14 regional airports has set a new target for 2018 – to increase passenger traffic by 5 percent from this year continuing the rising trend.

This year’s arrivals were up by 11.4 percent compared to 2016 and Fraport believes that more can be done. In order to achieve it, the German-Greek consortium is planning major renovations and upgrades for the airports, so that their capacity is increased. They also revised, upwards, their capital investment for the 14 regional airports around Greece that it acquired last April for a period of 40 years.

Specifically, five new terminals will be built at the airports of Thessaloniki, Corfu, Cephalonia, Kos and Lesvos, while the entire size of all 14 terminals will reach 300,000 square meters, and check-in points will increase from 213 to 297.This upgrade is included in the Fraport Greece contract which obliges the company to invest €330 million (AUD$516,700,000) to improve the airports until 2021, although company officials recently said the figure will reach €415 million (AUD$649,798,000).