Hermes Airports celebrates 20 year anniversary

Hermes Airports are celebrating the 20-year anniversary of the landmark concession agreement with the Republic of Cyprus for the management of Larnaka and Pafos international airports. This month, the island’s aviation sector is celebrating a transformative success story that has reshaped the island’s travel and tourism sector, and the wider economy.

Signed in 2006, the agreement marked the launch of Cyprus’ first and largest Public-Private Partnership, paving the way for the development of two modern international gateways at Larnaka and Pafos airports. Backed by investments exceeding €640 million, the project went on to earn international recognition and cementing Cyprus as an aviation success story.

Over the past 20 years, Cyprus has dramatically expanded its global connectivity despite significant challenges facing the aviation industry worldwide. Passenger traffic across the two airports has nearly doubled, climbing from 6.7 million travellers in 2006 to an impressive 13.7 million in 2025. Today, Cyprus enjoys strong links across Europe and the Middle East, reinforcing tourism as a cornerstone of the national economy and contributing around 14% of GDP.

Momentum continues with Phase Two expansion works now underway at both airports. Hermes Airports is investing a further €170 million to increase capacity and further enhance the passenger experience for future generations.

The partnership has also delivered substantial benefits to the state, generating more than €715 million in concession revenues over two decades. In 2025 alone, airport operations contributed nearly €790 million to the Cypriot economy, underlining aviation’s vital role in employment, tourism and long-term economic growth.

Find out more in Hermes Airports’ official Press Release here.