Amid much pomp President Nikos Christodoulides on Thursday laid the foundation stone for a project further expanding the island’s two international airports, promising to service over 17 million passengers a year once the works are completed by 2027.
Speaking at the ceremony held at Larnaca airport, the president described the project – the second phase of development for the airports – as “one of the largest public-private partnerships to date”.
Christodoulides called the project “of strategic importance which, among other things, enhances the travel experience and creates new prospects for tourism, commerce and economic growth”.
In his remarks, the president thanked Hermes Airports – the operator of the two airports – for their longtime “fruitful collaboration” with the state.
The foundation stone contained a ‘time capsule’ containing various objects – such as newspaper clippings of the event.
“I am certain the project will be completed by 2027, and we will be here again for the inaugurals,” the president noted.
Beyond the obvious interplay with tourism, Christodoulides said, expanding the airports would also help with two ‘milestones’: first, the island holding the presidency of the Council of the European Union during the first half of 2026, and secondly, with Cyprus’ plans to join the Schengen Area.
On the latter, the president said Cyprus hopes to complete all internal procedures by the end of this year. Entry into Schengen would be “a development with multiple benefits, political and economic, as well as in terms of security”.
Noting that the previous two years – 2024 and 2023 – saw record numbers of tourist arrivals, Christodoulides said the aim is to go even higher.
The airport upgrades would cover Cyprus’ needs up until the year 2040, he asserted.
Tourism currently contributes a little over 13 per cent of Gross Domestic Product.
The deal for the Phase 2 works was signed in December 2024 following months of talks between Hermes and the transport ministry.
Works already got underway since thi March, following a financing agreement clinched between the contractors and the banks. An agreement was also signed with the joint venture Bouygues Batiment International SAS and Iacovou Brothers (Constructions) Ltd, which has undertaken the construction of the Phase 2 works.
Media reports said the Phase 2 project would cost an estimated €170 million, with the expenses covered entirely by Hermes.
As far as Larnaca airport is concerned, the expansion projects will cover a total area of 20,000 square metres. They will involve the construction of a new section with arrivals and departures gates connecting to the main building, extra baggage carousels, new passport and security checks stations, and additional aircraft stands.
At Paphos airport, capacity will be boosted by approximately 30 per cent, while the southern runway will be expanded.
Upon completion of Phase 2, Larnaca airport will be able to handle 12.4 million passengers a year, and Paphos five million passengers.
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