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20 Years Of Hermes Airports: Growth In Passenger Traffic And Connectivity

by THEFUTURE.TEAM

June 9, 2026

Overview Of A 20-Year Milestone

This year marks 20 years since the Cyprus government awarded Hermes Airports the concession to manage Larnaca and Pafos International Airports. Since taking over operations in 2006, Hermes Airports has overseen the development and expansion of the country’s two main airports under a long-term public-private partnership agreement.

Modernization And Infrastructure Development

Following the concession agreement, Hermes Airports launched a major infrastructure programme that included the construction of new terminal buildings and supporting facilities at both airports. Completed in 2008 and 2009, the projects represented an investment of more than €640 million and significantly increased the capacity of Cyprus’ aviation infrastructure.

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Enhancing The Passenger Experience And Economic Impact

Passenger traffic has grown substantially during the past two decades, rising from 6.7 million passengers in 2006 to a projected 13.7 million in 2025. The increase has been supported by the addition of new airline partners, expanded route networks and improved connectivity between Cyprus and international markets. Hermes Airports has also invested in technology, accessibility and operational improvements aimed at supporting passenger services and airport operations.

Navigating Global Challenges With Strategic Resilience

The aviation sector has faced several challenges during the concession period, including the Covid-19 pandemic, geopolitical disruptions and fluctuations in fuel prices. Hermes Airports said it worked closely with airlines, tourism stakeholders and government authorities to maintain operations and support the recovery of passenger traffic during periods of disruption.

Future Developments And Continued Growth

A second phase of expansion is currently underway at Larnaca and Pafos airports. The project, valued at €170 million and financed by Hermes Airports, is expected to increase capacity, improve operational efficiency and create additional commercial space. Following the recent extension of its agreement with the government, the company plans to continue investing in airport infrastructure and network development.

A Legacy Of Sustainable Contributions

According to Hermes Airports, the partnership has generated more than €715 million in direct revenues for the state over the past 20 years. Its total contribution to the Cypriot economy is estimated at €790 million in 2025, while airport operations support more than 18,500 jobs across the country. The figures highlight the role of aviation and airport infrastructure in supporting tourism, connectivity and economic activity in Cyprus.

The Future Forbes Realty Global Properties

Paramount Seeks $1.88 Billion From States Over Delayed Warner Bros. Deal

by News Editor

August 18, 2026

Paramount Skydance is seeking a $1.88 billion bond from the states attempting to block its planned merger with Warner Bros. Discovery, arguing that the legal challenge is creating significant financial losses.

The request follows a July lawsuit brought by 12 state attorneys general, led by California’s Rob Bonta, who challenged the proposed $110 billion merger. The transaction would combine two major Hollywood studios, their U.S. television networks and streaming services Paramount+ and HBO Max.

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A Costly Delay For Paramount

Paramount had originally expected to complete the deal by the end of September. Instead, the company agreed to delay the transaction until as late as June 2027 while the states’ antitrust case moves toward trial.

The company says the delay could become increasingly expensive because of a “ticking fee” included in the merger agreement. Beginning Sept. 30, Paramount will owe WBD shareholders an additional 25 cents per share every quarter until the transaction closes. That could amount to around $650 million per quarter.

Paramount estimates that ticking fees alone could reach $1.3 billion by the time the legal process is completed. The proposed $1.88 billion bond would cover those payments as well as financing costs linked to the litigation.

The company has already received approval from the U.S. Justice Department and other global regulators, but argues that some of those approvals could be jeopardized by a prolonged delay.

States Push Back

The states maintain that Paramount and WBD accepted the financial risks when they agreed to the merger terms. Bonta’s office said the companies knew the transaction would face regulatory scrutiny and voluntarily included the ticking-fee provision.

The state also pointed out that Paramount agreed to the trial timeline without requesting a bond at the time.

Paramount says the costs go beyond shareholder payments. The prolonged uncertainty could also delay investments in content, production and creative talent that would otherwise be made by the combined company.

The lawsuit was filed by California, Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon and Washington.