Greece's Kalamáta Airport deal confirmed to a Fraport consortium; a further 22 airports to follow

It is eight years since a Fraport-led consortium with the Copelouzos Group took on 14 regional Greek airports in a 40-year concession, which had a tough time initially with the operator and government at loggerheads over who should build what, where, and when.

Since then it has settled into what is widely regarded as a successful venture for all parties.

So it is hardly surprising that the Greek government has again commissioned Fraport and its partner, the Copelouzos Group, to take on the management and expansion of Kalamáta International Airport, which supports a different kind of tourism from that of the small islands - again, on a 40-year deal, and this time with an additional Greek investor, one that has deep experience of managing tourism.

Next up are the remaining 22 regional airports, again, many of them on the widespread islands, and this time in some cases with annual passenger totals that are barely measured in the thousands. The process has already begun, and it may prove to be a harder sell with some of these islands welcoming Greek domestic tourists, but whose infrastructure would be overwhelmed by mass international visits.

Whether they suit Fraport and the existing consortium investors remains to be seen.

Fraport has indicated that is highly interested in them and has formally signalled its intent to participate in the ongoing international tender for these additional facilities.

That outlook mirrors what has happened in Brazil, for example, where some of the bigger international players continued to show interest in concession tranches of much smaller airports as they came to market.