The new airport will be built at Kasteli, 30km from Heraklion, and once operational the existing airport will be closed.
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European Investment Bank (EIB)
EIB is to supply a $50 million loan to rebuild Princess Juliana Airport's passenger terminal after the damage caused hurricanes Irma and Maria.
The €150 million loan will be used to fund Helsinki Airport's expansion plans, aiming to make the passenger experience a smoother one.
Taking into account expected air traffic, improvements funded by the loan will help cut the CO2 emissions of Aena airports by 30 per cent.