BULGARIA. The Bulgarian government has awarded a consortium led by Fraport the concession to modernise, expand and operate Bourgas and Varna airports – gateways to the popular Black Sea tourist region – under a 35-year contract.
Copenhagen Airports had initially been awarded the concession in April 2005 but a court later ruled that it did not fulfil several key criteria for taking over the contract, leading to a re-tender.
The agreement is expected to be completed within the next few months. The 35-year term will include an option for both sides to extend the contract. The planned investment over the concession period will be €403 million.
Fraport, as lead partner (with a 60% share) and BM Star of Bulgaria, will take over the operations and master planning for both airports, as well as development of modern passenger terminals.
Bourgas and Varna airports each welcomed about 1.6 million passengers in 2005 – mainly travellers from Germany, the UK and Scandinavia. This represented growth of +17.5% growth for Varna and +14.2 for Bourgas compared to 2004.
MORE STORIES ON VARNA AND BOURGAS AIRPORTS
Court orders fresh tender for Bulgarian airports; Copenhagen Airports out of the race – 25/10/05
Copenhagen Airports set to sign concession agreement for Bulgarian airports – 10/06/05
