KAZAKHSTAN. Groupe ADP company TAV Airports, with consortium partner VPE Capital, has struck a US$415 million deal to acquire and manage Almaty International Airport. The agreement covers the airport and associated businesses. As reported, TAV Airports began talks about an investment last year.
TAV Airports will take a 75% stake in the consortium, with share transfers taking place upon purchase completion. Located in the southeast of the country, Almaty is a strategic location for the ‘One Belt One Road’ project, connecting central China to West Asia. Kazakhstan is an engine of economic growth in Central Asia and generates roughly 60% of the region’s GDP.
TAV Airports President & CEO Sani Şener said: “We’re happy to add Almaty Airport, which is a main transit hub between Asia and Europe, to our portfolio. Almaty is strategically located on ‘the modern Silk Road’, established from China to Europe and Africa through air transport.
“Kazakhstan is the largest country in the region – both geographically and economically – and Almaty is the largest city in the country controlling 20% of Kazakhstan’s GDP. We believe there is significant potential for growth in Almaty Airport, and drawing upon our extensive know-how, we’ll work towards realising this potential to the fullest.”
The base for national carrier Air Astana, Almaty Airport served 6.4 million passengers in 2019, a +13% increase compared to the previous year. Bek Air, SCAT Airlines and Qazak Air also use Almaty as their base.
Upon completion, Almaty will become the 15th airport in the TAV Airports network.
