PAPHOS AIRPORT IN ITS SECOND DECADE

From incyprus 21 July 2017

Paphos Airport has entered into its second decade of operations, managed by Hermes Airports Ltd. On the occasion of this event and the excellent results achieved during the first half of 2017, in terms of total passenger traffic which amounted to 4.1 million passengers, or an increase of 17.8%, the Honorary-Lifetime Chairman and founder of the consortium, Mr. Nikos Shacolas, together with the Chairman of the Board of Directors Mr. Panayiotis Hadjipantelis and the Chief Executive Officer of the company, Ms Eleni Kaloyirou welcomed at Pafos airport, city’s high officials and offered them a tour of the terminal.

Members of the Parliament, the Mayors of Paphos region, the District Officer, the Chairs of the Pafos Chamber and the Paphos 17 along with various representatives of other institutions of the city and the Pafos’ province were also present.

During the visit, the officials were informed about the successful operation of the Pafos airport. In addition, current issues related to the country’s connectivity were also discussed, especially regarding the passenger traffic, which this year is expected to reach a new record of arrivals. Also, during their visit, the officials had the opportunity to discuss development projects and the need for further support of projects related to the tourism industry.

There was an exchange of views on the need to add more hotel rooms in the summer period and the need to maintain hotel accommodation on a yearly basis so as to achieve a reduction in seasonality.
The importance of effective communication and the cooperation between all the parties involved in the tourism industry, on a continuous basis were also emphasized.

Paphos Airport Info:

• The management contract for the two international airports of Cyprus was signed on 12 May 2006.
• Pafos International Airport was inaugurated on November 8, 2008, while Larnaka International Airport on November 7, 2009.
• The two terminals cost a total of € 638 million. More specifically, Pafos Airport cost €126 million and Larnaka Airport cost €512 million.
• Hermes undertook and continues to take several initiatives and invests significant amounts of money, aiming at attracting new airlines and new tourism arrivals in Cyprus.
• In comparison, it should be noted that in 2006, when Hermes took over the management of the two Cypriot airports, the passenger traffic was only 6,760,641 passengers. Ten years later, in 2016, the passenger traffic reached 8,974,163 passengers, an increase of 32%. Pafos airport grew by 27% in the first ten years, from 1.8 million passengers in 2006 to 2.3 million passengers in 2016.
• Airport charges are fixed and approved by the House of Representatives; however, Hermes, together with the Government, has provided significant airline incentives since 2010, which have resulted a reduction in airline fees, expansion of the tourist flow to our country and an increase of the passenger traffic at the airports.
• It is estimated that about 100 additional jobs are created for each additional flight arriving at Cyprus’ airports. In total, more than 12,700 jobs in the tourism industry across Cyprus (out of which 3.000 concern Paphos Airport exclusively) are sustained by the operation of the two international airports. With an annual contribution of more than 500 million Euros to the economy of Cyprus, corresponding to approximately 3% of the Cyprus GDP, Larnaka and Pafos International Airports are justifiably considered to be among the major drivers of economic growth in the country and are acknowledged as key generators of thousands of jobs.
• Hermes Airports Ltd consortium shareholders are: Bouygues Batiment International (22%), Egis Projects (20%), Cyprus Trading Corporation Public Limited (11.34%), Hellenic Mining (11.33%), Vantage Airport Group (11%), Aer Rianta International (11%), Iacovou Brothers Construction (5.665%), Charilaos Apostolides Public Limited (5.665%) and Aeroport Nice Cote d’ Azur Chambre de Commerce et d’Industrie (2%)