Two of the most significant tender processes currently reshaping Greece’s aviation infrastructure are heading towards new September deadlines.
According to information obtained by Energodromio, the deadline for binding bids for the major expansion of Athens International Airport (AIA) is expected to be extended until mid-September. The wider Airport Expansion Programme represents an investment estimated at approximately €1.3 billion and is designed to increase the airport’s annual passenger capacity to 40 million by 2032.
Separately, the deadline for expressions of interest in the concession of 22 regional airports across Greece has been moved to 30 September 2026. Growthfund, officially the Hellenic Corporation of Assets and Participations, has confirmed that submissions will be accepted until 15:00 Greek time on that date.
Although the two projects are distinct, together they illustrate the scale of investment under way across Greece’s aviation infrastructure. In Athens, the focus is on substantially expanding the capacity of the country’s largest airport. In the regions, the objective is to attract an investor capable of managing and developing a highly diverse portfolio ranging from airports in Ioannina and Alexandroupoli to small island facilities.
Athens International Airport’s tender for the expansion of its main passenger infrastructure is entering a decisive stage, with the deadline for binding bids expected to move to mid-September, according to information obtained by Energodromio.
The Airport Expansion Programme is the largest expansion of Athens International Airport since the airport began operations. AIA’s own financial reporting estimates the programme at approximately €1.3 billion, based on 2024 prices, and targets capacity for 40 million passengers annually by 2032.
Two bidding groups remain in contention for the principal construction contract, according to Energodromio’s information: an AVAX-led consortium structured on a 60%-40% participation basis, and AKTOR, which has teamed up with Turkish contractor IC İçtaş.
The contract is also significant for Greece’s construction industry. Securing a project of this scale would add substantially to the order backlog of the successful contractor or consortium at a time when the country’s largest construction groups are simultaneously pursuing major infrastructure projects, concessions and public-private partnerships.
The programme is intended to prepare Athens International Airport for continued growth in passenger traffic. AIA formally states that its Airport Expansion Programme is progressing towards an annual capacity of 40 million passengers by 2032.
A core part of the investment is the enlargement and refurbishment of both the Main Terminal Building and the Satellite Terminal Building. According to AIA’s interim financial statements, the programme involves approximately 150,000 sq m of additional terminal space, alongside substantial refurbishment of existing areas.
A defining feature of the tender is the procurement model selected by Athens International Airport.
Rather than relying solely on a conventional process in which contractors price and subsequently construct an already fully defined project, AIA is using an Early Contractor Involvement (ECI) model.
Under this approach, prospective contractors become involved during the project-development and design stages. They submit technical proposals, assess alternative construction solutions and contribute to the development of the project’s cost structure and implementation timetable.
Early Contractor Involvement is particularly relevant to complex brownfield infrastructure projects because potential construction and engineering risks can be identified before the main works begin. In the case of Athens International Airport, this is especially important because the expansion must be carried out while the airport remains fully operational.
AIA confirmed in its March 2026 interim financial reporting that the ECI tender process was under way and that selection of the preferred bidder was expected during the second half of 2026.
Following completion of this stage, the project is expected to move into a design-and-build phase, under which the contractor will assume responsibility both for finalising the relevant designs and for executing the construction works.
Τhe architectural design for the expansion has already advanced.
The project is being designed by the Anemos consortium, whose team includes Grimshaw, Haptic, Athens-based K-Studio, Arup, Leslie Jones, Triagonal and Plan A. The consortium has been appointed to expand the airport while allowing existing facilities to remain in operation throughout the construction programme. (grimshaw.global)
At the heart of the investment is the extension and modification of both the Main Terminal Building and the Satellite Terminal Building.
New sections are planned around the existing terminal complex, substantially increasing the space available for passenger processing, gate facilities, commercial uses and other airport functions. Official AIA documentation places the additional terminal area at approximately 150,000 sq m.
The architectural concept incorporates extensive glazed surfaces, natural light, climate-responsive shading, planted courtyards and open areas with Mediterranean landscaping. A prominent curved entrance is intended to create a new unified arrival and reception space.
The project also includes upgrades to landside and airside infrastructure, aircraft stands, gate seating and commercial areas. The design team is targeting LEED Gold certification and incorporates passive-design principles, lower-carbon structures and materials, as well as energy, water and waste-management strategies. The programme must be delivered within an operating international airport, making the sequencing of construction one of its central technical challenges.
The transformation of Athens International Airport is not waiting for completion of the principal expansion tender.
Complementary projects with an overall budget of approximately €188 million are already under way, according to Energodromio, forming an important preparatory stage for the larger expansion programme. (energodromio)
The works are being carried out by the GEK TERNA–REDEX consortium and include a new seven-storey multi-storey car park and the development of 32 additional aircraft parking stands.
AIA’s own programme documentation confirms the construction of a seven-floor multi-storey car park and a new North-West Apron providing 32 remote aircraft stands, with construction already in progress. The works are expected to be completed progressively through 2027, creating additional operational capacity ahead of completion of the main terminal expansion.
A new VIP terminal is also included in the wider investment programme, with REDEX selected for its construction, according to Energodromio. The facility is expected to be delivered under a design-and-build arrangement and completed during 2027.
The standalone facility will be positioned on the northern side of the airport and will have independent access, allowing official delegations and passengers requiring enhanced security and privacy to move through the airport with minimal impact on normal terminal operations. AIA’s official Airport Expansion Programme also identifies the new VIP Terminal Building and its associated apron works as one of the programme’s principal components.
At the same time, another major airport tender has been given additional time.Growthfund has formally extended the deadline for expressions of interest in the concession of 22 regional airports to 30 September 2026 at 15:00 Greek time.
The tender documentation is dated 22 April 2026, while Growthfund’s procurement publication was posted on 24 April. The process has since been extended twice: the initial submission timetable moved first to August and has now been pushed to the end of September.
According to Energodromio’s information, the latest extension was requested by interested investors, reflecting the complexity of conducting due diligence on a highly heterogeneous airport portfolio during the peak summer period. Sources close to the process regard the additional time as significant because of the scale and complexity of the transaction and do not currently expect a further extension.
Market interest is understood to be strong among both Greek and international investors. The concession represents the remaining large portfolio of smaller state-controlled airports available for private-sector development in Greece.
The 22 airports included in the current portfolio are: Alexandroupoli, Araxos, Astypalaia, Ikaria, Ioannina, Kalymnos, Karpathos, Kasos, Kastellorizo, Kastoria, Kozani, Kythira, Leros, Limnos, Milos, Naxos, Nea Anchialos, Paros, Sitia, Skyros, Syros and Chios.
The portfolio has deliberately been structured as a single airport cluster despite substantial differences in passenger volumes, infrastructure and commercial potential. The rationale is to create operational and financial synergies by combining stronger airports with smaller facilities that, on a standalone basis, could prove more difficult to develop commercially.
Despite their relatively small individual scale, the airports collectively handle a significant and growing volume of traffic.
Official tender data show that the 22 airports handled 2,444,722 passengers in 2025, excluding transit passengers, compared with 1,797,114 in 2022. The portfolio recorded a compound annual growth rate of 10.8% between 2022 and 2025.
The scale of individual airports varies considerably.
Paros was the largest airport in the portfolio by 2025 passenger traffic, with 371,989 passengers, followed by Alexandroupoli with 330,155 and Chios with 321,269. At the other end of the spectrum, Kastoria handled 3,248 passengers and Kasos 3,959 during the year.
The tender remains in its first phase, meaning that a definitive list of qualified bidders has not yet been established.According to market information reported by Energodromio, names attracting attention include Athens International Airport, Fraport Greece and GEK TERNA in partnership with Indian airport group GMR.
Additional international airport operators, investment consortia or specialist infrastructure funds could also enter the process.The portfolio combines established tourism destinations with smaller airports whose commercial and traffic potential could increase substantially following investment in terminal facilities, operational systems and connectivity.
