The contract between the government and Hermes airports to extend the management of Larnaca and Paphos airports until 2033 will be signed on Monday, Transport Minister Alexis Vafeades said on Sunday. 

Vafeades, told the Cyprus News Agency, the agreement reached between the government and the contractor provides for a one and a half year extension of the contract, which expires in 2031.

He said that the agreement was important, adding that “the contract with Hermes is one of the most important contracts the state has, because it essentially manages the country’s two airports.” 

He also said that the agreement reached between the government and the contractor, after a year of negotiations, provides that Hermes will proceed immediately with the implementation of the second phase of the airport expansion projects.

“We believe that the benefit for Cyprus is huge, because we can proceed with the immediate implementation of the projects, which we need as a country in order to serve the passenger traffic, not only the one we have today, but also the passenger traffic until 2036,” the minister told CNA, adding that studies have been done that predict what the passenger traffic at the airports will be until 2036 and that the projects have been adapted to meet this forecast.