Blackstone Investment in Fraport Greece: Acquisition of 10% Stake in 14 Regional Airports

Blackstone has completed a significant investment move in the Greek aviation infrastructure sector, acquiring a 10% stake in Fraport Greece through the investment entity Blackstone Infrastructure Partners.

Transaction details

According to Fraport's financial statements, the transaction was completed on February 18, 2026. Blackstone’s entry occurred when Marguerite Airport Greece S.à r.l. transferred its entire stake to BIP Hermes Lux Topco S.à r.l., the vehicle through which the U.S. investment fund participates. Following the completion of the agreement, the new shareholding structure of Fraport Greece is as follows: Germany's Fraport AG maintains 65%, Slentel of the Copelouzos Group (Όμιλος Κοπελούζου) holds 25%, and BIP Hermes Lux Topco (Blackstone) holds 10%. Although the exact transaction price has not been officially disclosed, market information places it at levels exceeding €200 million ($216 million).

Strategic significance and objectives

This investment is not an opportunistic move but is part of the core long-term strategy of Blackstone Infrastructure Partners, which focuses on transportation, energy, digital networks, and resource management infrastructure. Fraport Greece manages 14 of the country's regional airports (including Thessaloniki, Rhodes, Corfu, Chania, Kos, Santorini, and Mykonos) through a 40-year concession agreement (a long-term lease contract between the state and a private operator). Commercial operations began in April 2017, following an upfront payment of €625 million ($675 million). This specific move is directly linked to the long-term growth of Greek tourism and strengthens Blackstone's broader presence in Greece, which continued its investments in the hotel sector through 2026.

Upward trend in passenger traffic

Investment interest in regional airports coincides with the continuous rise in passenger traffic. In July 2026, the 14 airports handled 6.9 million passengers, marking a 5.4% increase compared to the same month in 2025. Specifically, international traffic increased by 5.2% and domestic traffic by 6.7%.

On a seven-month basis (January - July 2026), total passenger traffic reached 20.57 million, up 5.4% compared to 19.5 million passengers in the corresponding period of 2025 (an increase of more than 1.05 million passengers). Meanwhile, total flights amounted to 160,274 compared to 151,385 last year, recording an increase of 5.9%, with domestic flights strengthening by 7% and international flights by 5.3%.

Leaders and airport performance

In absolute numbers, Thessaloniki Airport maintained the top position in the seven-month period with 4.607 million passengers (+5.4%). It is followed by Rhodes with 3.810 million (+3.4%), Corfu with 2.542 million, and Chania with 2.411 million passengers. In percentage terms, the strongest momentum was shown by Samos (+11.9%), Skiathos (+11.4%), Chania (+9.5%), Corfu (+7.9%), Kefalonia (+6.4%), and Mykonos (+6.2%). Conversely, Kos was the sole exception to the generalized upward trend across the airport network.