Christophe Petit: A clear public-private sector division of roles made Hermes Airports’ PPP a success (video)

07:19 - 28 March 2025

Companies Reporter

The Chairman, Board of Directors, Hermes Airports, Deputy CEO, Bouygues Bâtiment International, Christophe Petit, has revealed that a key ingredient in the success of the airport operator's success in Cyprus was a clear public-private sector division of roles.

Speaking to the camera for the recent 'Unlocking investment through Public-Private Partnerships (PPP)' International Summit in Nicosia, Petit discussed the concession of Larnaca and Paphos airports in Cyprus since 2001, highlighting a five-year process that raised €600 million in private financing.

Among other things, he also pointed out that the airports' traffic increased from 6 million to 12 million passengers, with significant commercial revenue growth.

The success is attributed to a clear public-private sector division of roles and mutual support during crises like COVID-19 and the Ukraine war, Petit pointed out.

He also talked about how government receives 33% of annual revenues, benefiting the country while challenges include rising construction costs, inflation, and environmental concerns.

Key to PPP success is a bankable project structure, proper advisors, and a balanced risk allocation between public and private sectors, Petit concluded.

The full interview can be viewed in the video below:

The 'Unlocking investment through Public-Private Partnerships (PPP)' International Summit in Nicosia, was organised by Invest Cyprus, the World Association of Investment Promotion Agencies (WAIPA) and World Association of PPP Units & PPP Professionals (WAPPP).

EY Cyprus is Gold Sponsor, Hermes Airports is Silver Sponsor, and the European Investment Bank is the Knowledge Sponsor.

Christophe Petit: A clear public-private sector division of roles made Hermes Airports’ PPP a success (video)

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