The Blueprint for Success It all started with the country’s first and largest Public-Private Partnership (PPP). Hermes notes:

“Through the agreement, which was the first and largest Public-Private Partnership (PPP) in the country and has been described as the most successful project in this field (award 'Best Transport Project in Europe' by World Finance in 2013), Cyprus acquired two new state-of-the-art airports in Larnaka and Paphos, with an expenditure exceeding €640 million.”

Resilience & Connectivity Despite global crises, the network didn't just survive, it expanded.

“During this twenty-year period, thanks to the actions of Hermes Airports in cooperation with all tourism stakeholders and despite consecutive and major crises that affected international aviation, the country's connectivity was significantly strengthened, now covering the entire European continent and the wider Middle East region.”

The Economic Engine The numbers are staggering. Total state revenue from fees has topped €715 million. In 2025 alone, the airports injected €789.4 million into the economy. As the company puts it:

“Traffic at the two airports has approximately doubled from 6.7 million in 2006 to 13.7 million in 2025, contributing decisively to the consolidation of tourism as a strategic pillar of the Cypriot economy, with a contribution to GDP that today reaches 14%.”

Future-Proofing the Gates Hermes isn't slowing down. A €170 million Phase 2 expansion is currently underway to ensure the airports handle long-term demand. These upgrades: “respond to the modern needs of airlines and passengers and will offer an even more upgraded travel experience to those who use our airports.”

A Word from the Top CEO Eleni Kaloyirou views the 20th anniversary as more than just a calendar date:

“Today's anniversary is a very special milestone for us, as it gives us the opportunity to reflect on this entire journey and the role we have played as a long-standing and reliable partner of the state, contributing decisively to the development of the Cypriot economy and Cypriot tourism, as well as to the effective management of every crisis that arose from time to time, turning it into an opportunity for further progress and growth.”

She adds that through strategic moves, they have: “decisively strengthened Cyprus' connectivity year-round.”

Kaloyirou also emphasized their role as a top-tier employer: “through our activities we actively support broader entrepreneurship and employment, while Hermes Airports itself is practically recognized through a series of distinctions as an employer of choice, investing in our people and cultivating a modern and supportive work environment.”

Source: CNA(ΚΥΠΕ)