A joint-venture formed by TAV Airports (51%), member of Groupe ADP, and Fraport (49%) has won the tender for the renewal of Antalya Airport concession.
This success results from the auction held by the Turkish State Airports Authority (DHMI) on December 1st, 2021, in which the joint-venture was the highest bidder. The object of the tender is the realization of additional investments to increase capacity of the airport in return for the right to operate the airport for 25 years, between January 1st, 2027 and December 31st, 2051.
The total concession rent to DHMI is of 7.25 billion euros (VAT excluded), of which 25% (1.8 billion euros) are to be paid within 90 days after the signing of the concession agreement. The service charge will be 17 euros per outgoing international passenger and 3 euros per outgoing domestic passenger during the new concession period.
The investment for the capacity increase of Antalya Airport, to 80 million passengers annually (more than the double that the current capacity), is planned at around 765 million euros on a fixed price EPC [1] basis, of which 600 million euros will be conducted between 2022 and 2025, and 165 million euros between 2038 and 2040.
The results of the joint-venture will be accounted for under the equity method. The current operating rights of Antalya Airport, operated by a company equally-owned between TAV Airports and Fraport, remain unchanged until December 31st, 2026.
Antalya airport is a strategic asset within TAV Airports' portfolio. Since the end of Istanbul Ataturk concession, it is the main platform of TAV Airports, in dividends as well as in trafic volume: In 2019, Antalya airport welcomed 35.7 million passengers, of which 28.7 million were international passengers, making it the second-busiest airport in Turkey, and the first in international O&D [2] traffic.
Antalya is a major destination during the European summer leisure season due to its location on the Turkish Riviera, 500km long on the Mediterranean coastline, in the Southwest of the country, and with a hotel capacity of 625,000 beds.
This success results from the auction held by the Turkish State Airports Authority (DHMI) on December 1st, 2021, in which the joint-venture was the highest bidder. The object of the tender is the realization of additional investments to increase capacity of the airport in return for the right to operate the airport for 25 years, between January 1st, 2027 and December 31st, 2051.
The total concession rent to DHMI is of 7.25 billion euros (VAT excluded), of which 25% (1.8 billion euros) are to be paid within 90 days after the signing of the concession agreement. The service charge will be 17 euros per outgoing international passenger and 3 euros per outgoing domestic passenger during the new concession period.
The investment for the capacity increase of Antalya Airport, to 80 million passengers annually (more than the double that the current capacity), is planned at around 765 million euros on a fixed price EPC [1] basis, of which 600 million euros will be conducted between 2022 and 2025, and 165 million euros between 2038 and 2040.
The results of the joint-venture will be accounted for under the equity method. The current operating rights of Antalya Airport, operated by a company equally-owned between TAV Airports and Fraport, remain unchanged until December 31st, 2026.
Antalya airport is a strategic asset within TAV Airports' portfolio. Since the end of Istanbul Ataturk concession, it is the main platform of TAV Airports, in dividends as well as in trafic volume: In 2019, Antalya airport welcomed 35.7 million passengers, of which 28.7 million were international passengers, making it the second-busiest airport in Turkey, and the first in international O&D [2] traffic.
Antalya is a major destination during the European summer leisure season due to its location on the Turkish Riviera, 500km long on the Mediterranean coastline, in the Southwest of the country, and with a hotel capacity of 625,000 beds.
[1] Engineering, Procurement, and Construction
[2] Origin – destination
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