TURKEY. TAV Airport Holdings has been granted a 20-year concession to manage Turkey’s sixth busiest airport, Milas Bodrum. The company will manage the international terminal from October 2015 and is awaiting confirmation on its starting date at the domestic terminal.
The €717 million (plus VAT) deal adds a fifth airport to TAVs Turkish portfolio, which already includes Istanbul Atatürk, Ankara Esenboga, Izmir Adnan Menderes and Antalya Gazipasa airports.
The company won an auction against three other consortia – incumbent operator Astaldi, YDA Construction and a Fraport-led group – conducted over 105 rounds of bidding today. The auction was held by state airport authority DHMI.
TAV Airports President & CEO Sani Sener said: “Milas Bodrum Airport connects a significant tourism center to the rest of the world… Bodrum is a candidate to be the fourth-largest city in Turkey by 2025.
“There is a 20% down payment; however we already have our financing at hand. We will undertake this project with 30% of shareholder’s equity and 70% financing. We invest all our earnings in this industry as it is our sole business.”
Milas Bodrum Airport served 3.63 million passengers last year.
TAV also operates several overseas airports, including Tbilisi and Batumi airports in Georgia, Monastir and Enfidha-Hamammet airports in Tunisia, Skopje and Ohrid airports in Macedonia, Medinah Airport in Saudi Arabia and Zagreb in Croatia.
The company is a joint venture partner (along with Gebr Heinemann’s Unifree Duty Free) in ATÜ Duty Free, which operates over 15,000sq m of retail space at 66 stores across eleven airports.
