Hermes airports

What Hermes airports does

Hermes Airports Ltd is a privately held Cypriot airport operator (founded 2006, 101–250 employees) that holds the government concession to operate Cyprus's only two international airports, Larnaka International Airport (LCA) and Paphos International Airport (PFO). The company manages the full airport value chain — passenger and flight operations, ground handling, security screening, cargo handling, retail and F&B concessions, duty-free, lounges, parking, currency exchange, and ancillary passenger services — and in 2025 handled a record 13.75 million passengers across 160 routes operated by 60 airlines connecting to 41 countries. Larnaca ranked 2nd in Europe in the 5–10M passenger category and Cyprus ranked 1st in Europe for direct air connectivity growth (18% YoY).

The technology stack is conventional for a mid-sized European airport operator: real-time flight information systems, an ISO 50001:2018-certified Energy Management System, ACA Level 4+ carbon offset infrastructure, online booking (parking, express lane, lounges), 360° virtual tours, and a Moodle-based Hermes Academy training platform. A €170 million self-financed expansion launched in March 2026 will lift combined annual capacity to 17 million passengers (12.4M at Larnaca, 5M at Paphos), with €3.6 million co-financed by the EU for electric ground power units.

Revenue derives from regulated aeronautical charges (landing, passenger, aircraft parking fees) and non-aeronautical commercial streams (retail and duty-free concessions, F&B, lounges, parking, currency exchange). GTM is sales-led and event-driven: B2B route incentive schemes target 60+ airline partners (including Lufthansa Group/Discover Airlines, Aegean, Wizz Air, Jet2, SKY express, Cyprus Airways, easyJet, British Airways), while B2C passenger services are delivered at terminals and through the online booking portal. Marketing combines a content-led website, the WELCOME Magazine, social channels under the Cyprus Aeropolis brand, and cultural initiatives such as Sense of Place.

Name

Hermes airports

Legal name

Hermes Airports Ltd

Website

https://hermesairports.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

Hermes Airports Ltd is a privately held Cypriot operator holding the government concession for Cyprus's only two international airports, Larnaka and Paphos. It manages passenger, flight, and commercial operations across 160 routes with 60 airlines, serving 13.75 million passengers in 2025.

Ownership category

akta.pro rank

Product category

Airport Operations

NAICS

Airport Operations (48811)

SIC

Airports, Flying Fields & Airport Terminal Services (4581), Transportation Services (4700)

akta.pro primary industry

Aviation Infrastructure Agencies (Public Airports, Airfield Ops, Ground Access) (BPAIALAE)

akta.pro secondary industries

Ground Handling (Ramp, Baggage, Turnaround) (THABAIAC), Airport Lounges & Premium Passenger Facilities (THABALAA)

Keywords

• Airport operations
• Passenger services
• Aviation infrastructure
• Airline partnerships
• Airport commercial services

Headquarters

HQ city

Larnaka

HQ country

Cyprus

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Airport Operations and Aeronautical Charges: Revenue from airlines and passengers through aeronautical charges including landing fees, passenger fees, and aircraft parking fees. The company maintains fee schedules published for airline partners.
2. Commercial Services and Retail: Revenue from retail spaces, restaurants, duty-free shopping, lounges, and other commercial tenant operations within the airports.
3. Passenger Services: Revenue from ancillary passenger services including parking, baggage wrapping, express lane access, and lounge access bookings.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Hermes Airports operates Larnaca and Paphos International Airports in Cyprus under a government concession, providing passenger processing, flight operations, ground handling, cargo handling, and a portfolio of commercial services including duty-free retail, food and beverage outlets, airline lounges, car parking, baggage services, and currency exchange. The company also offers digital passenger services via its online booking platform (parking, Express Lane, lounges), operates the Hermes Academy training division, and supports airline route development through incentive schemes and cooperation agreements.

Product overview

Hermes Airports operates as a unified airport management company overseeing Cyprus's two international airports at Larnaca and Paphos. The company offers a portfolio of passenger services that includes core airport operations (flight information, arrivals/departures, passenger processing), retail and commercial services (lounges, duty-free shopping, currency exchange, dining), and digital services (online booking platform for parking/Express Lane/lounges, e-Visitor passes, virtual tours). Supporting infrastructure includes cargo handling, ground handling services, and Hermes Academy for staff training. The company also runs cultural initiatives through its Sense of Place program and publishes WELCOME Magazine for tourism promotion.

Differentiator

Problem solved

Functional benefit

Brands

• Hermes Academy: Training platform operated by Hermes Airports for airport staff and other airports, offering classroom and e-learning programs.

Products and services

• Larnaca International Airport (LCA) Core airport hub providing passenger processing, flight operations, terminal facilities, retail and F&B, lounges, parking, ground handling and cargo for airlines and travelers. Capacity is being expanded to 12.4 million annual passengers.
• Paphos International Airport (PFO) Secondary international airport serving western Cyprus and tourist resorts, offering terminal facilities, passenger services, retail, dining, parking and ground handling. Capacity is being expanded to 5 million annual passengers.
• Online Booking Platform (parking, Express Lane, lounges) Passenger-facing portal at bookings.hermesairports.com for pre-booking car parking, Express Lane security access, and airport lounge services at Larnaca and Paphos. Available in multiple languages with online discounts versus walk-up rates.
• Express Lane priority security service Priority security lane at Larnaca airport allowing expedited security screening, available for online pre-booking with transaction-based pricing.
• Airport Lounges (Skala, Aegean Business, Premium) Premium passenger lounges (Skala Lounge, Aegean Business Lounge, Premium Lounge) offering Wi-Fi, food, beverages, and comfortable amenities. Free for business class passengers of partner airlines and chargeable for other travelers via online booking.
• Airport Car Parking Services Car parking facilities at both Larnaca and Paphos airports with online pre-booking available through the Hermes Airports booking platform at lower prices than walk-up rates.
• Baggage Services Comprehensive baggage handling including delivery, lost luggage tracking, wrapping services, and storage facilities at both Larnaca and Paphos airports.
• Currency Exchange (via Prosegur) Foreign currency exchange services provided by Prosegur Change at both Larnaka and Pafos airports, accessible online and on-site.
• Ground Handling Services Ground handling services for airlines including baggage processing, aircraft turnaround, and passenger services at both Larnaca and Paphos airports.
• Cargo Services Air cargo handling operations including freight processing and logistics at both Larnaca and Paphos airports.
• Hermes Academy Training and development division offering classroom and e-learning courses for airport staff and external airports, using a Moodle-based learning management system. Programs are co-sponsored by HRDA Cyprus.
• Flight Information System Real-time flight information system providing live arrivals, departures, and flight schedules for both Larnaca and Paphos airports, including flight search and airline information tools.

Quantifiable outcome

• 13.75 million passengers in 2025 (new record)
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Bouygues Batiment International SAScoreImplementation/ SI/ Consulting PartnerConstruction partner leading the €170 million airport expansion project at Larnaca and Paphos airports. Part of construction consortium with Iacovou Brothers. Construction began late March with 30-month timeline for Larnaca and 27 months for Paphos.
• Iacovou Brothers (Constructions) LtdcoreImplementation/ SI/ Consulting PartnerLocal construction partner in joint consortium with Bouygues Batiment International SAS for the €170 million airport expansion project.
• Discover AirlinescoreStrategic or Co-development PartnerLufthansa Group subsidiary launched inaugural flights to Cyprus on March 29, 2026, connecting Larnaca Airport with Frankfurt and Munich using Airbus A320 aircraft. Operating fleet of 30+ aircraft serving 60+ destinations. Marks Lufthansa Group's first presence in Cyprus.
• Aegean AirlinescoreStrategic or Co-development PartnerGreek airline in cooperation with Hermes Airports launching new direct flight from Larnaca to Brussels (December 2023), with 3 weekly flights initially increasing to 5. Part of Aegean's 2026 growth plan with 8% capacity increase and 1.5 million total seats to Cyprus, supporting Cyprus's EU Council presidency.
• Bouygues ConstructioncoreImplementation/ SI/ Consulting PartnerInternational construction company awarded contract by Hermes Airports to expand both Larnaka and Pafos airports. Contract covers infrastructure improvements at the two major Cypriot aviation hubs.
• ACI World (Airports Council International)coreOthersGlobal airport industry organization providing Airport Customer Experience Accreditation program. Awarded Level 3 accreditation to Larnaca and Paphos airports for advanced customer experience strategy.
• ACI EuropecoreOthersEuropean airport industry organization that publishes Air Connectivity Report. Ranked Cyprus airports first in Europe for direct air connectivity growth rate and recognized high passenger traffic increases.
• 60 Airlines (aggregate partnership)coreStrategic or Co-development Partner60 airline partners operating services to 41 countries. Includes Discover Airlines, Aegean Airlines, Wizz Air, Jet2.com, SKY express, Cyprus Airways, EasyJet, and British Airways among others.
• European Union (CEF/AFIF)coreOthersEU funding through Connecting Europe Facility (CEF) and Alternative Fuels Infrastructure Facility (AFIF) for €3.6 million Electric Ground Power Units installation project at both airports. Cyprus included in 39 approved projects.
• Assistance Dog CyprusminorStrategic or Co-development PartnerAnimal-assisted therapy organization providing trained dogs for Preboarding Zen Mode program at Larnaca airport, helping reduce passenger anxiety before flights.
• KEAN (Lemonade producer)minorStrategic or Co-development PartnerPartnership for Green Lemonade initiative collecting lemons from 120 lemon trees at Larnaca airport and producing homemade lemonade. Revenue from lemonade sales supports environmental causes and free plant distribution.
• FoodyminorStrategic or Co-development PartnerFood delivery platform distributing Green Lemonade products (concentrated or ready-to-drink, 330ml) from the Lemonade project. Proceeds support forestry department and free plant distribution.
• Cultural Organization AvantgardeminorStrategic or Co-development PartnerCultural organization providing decorated piano for Larnaca airport, designed by Cypriot artist Champi Tsangaris. Part of Sense of Place cultural initiative promoting Cyprus heritage.
• Human Resources Development Authority of Cyprus (HRDA)minorStrategic or Co-development PartnerGovernment body co-sponsoring Hermes Academy training programs. Training participants can access HRDA subsidies for approved courses through the Hermes Academy platform.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• TAV Airports: Operates and invests in multiple airports under concession contracts (Istanbul Atatürk, Antalya, etc.). Closely comparable multi-airport, concession-based business model and similar mix of aeronautical and commercial revenues.
• Fraport: Operates Frankfurt Airport plus a global portfolio of airport concessions. Comparable regulated airport operator with mixed aeronautical, retail and real estate revenue streams serving European hub traffic.
• Dublin Airport Authority (daa): Operates Dublin and Cork airports on behalf of the Irish state under a regulated regime. Similar single-country, multi-airport government-linked operator serving tourism and business traffic.
• Malta International Airport: Operates Malta's only commercial airport under a long-term concession with the Maltese government. Closely comparable single-country, single-airport island operator with similar tourism-driven traffic profile.
• Avinor: State-owned operator of 44 Norwegian airports including Oslo Gardermoen. Comparable public-purpose, multi-airport operator with similar aeronautical and commercial revenue mix.
• Swedavia: State-owned operator of Sweden's ten busiest airports including Stockholm Arlanda. Comparable European state-linked multi-airport operator with regulated fees and similar commercial revenue emphasis.

Broad incumbents

• Aena: World's largest airport operator by passenger numbers, running 46 airports across Spain and concessions globally. Comparable multi-airport concession model; Hermes is a much smaller, single-country analogue.
• Groupe ADP (Aéroports de Paris): Operates Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget plus international subsidiaries. Similar concession-based operator with diversified aeronautical, retail and real estate revenues.

Regional players

• Sofia Airport (SOF Connect): Operates Bulgaria's main Sofia Airport under a 35-year concession with similar EU regulatory exposure and tourism/business traffic mix to Larnaca.

Others

• ACI Europe: Industry association representing European airport operators. Not a competitor but the accrediting body that ranks and certifies Hermes (e.g. connectivity growth rankings, customer experience awards).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cyprusaeropolis
• YouTubeyoutube.com/channel/UCi9CkYMTGPtTIBDV508pclA
• Facebookfacebook.com/CyprusAeropolis
• LinkedInlinkedin.com/company/about
• Instagraminstagram.com/cyprusaeropolis

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hermes airports