TAV closes Antalya Airport concessionaire acquisition

By Andrew Pentol | Wednesday, 16 May 2018 9:45

TAV Airports will operate Antalya Airport together with German company Fraport AG.

Groupe ADP has welcomed the closing by TAV Airports of the 49% acquisition of Antalya Airport concessionaire ICF.

TAV Airports, a 46.12% subsidiary of Groupe ADP, signed the agreement in February for this €360m ($426m) acquisition.

TAV Airports will operate Antalya Airport together with German company Fraport AG, which has a 51% shareholding in ICF and share equal control of the concessionaire company.

In 2017, Antalya Airport revenue stood at €260.2m ($308.2m) and EBITDA (after concession rent expense) at €91m ($107.8m).

The second largest airport in Turkey in terms of international traffic, Antalya Airport, which handled more than 26 million passengers in 2017 and in excess of 2.5 million passengers in the first quarter of 2018, is the main gateway to the Turkish Riviera.

A Groupe ADP statement said: “This operation is following on Groupe ADP and TAV Airports developments, proving TAV Airports capacity to see opportunities to create long-term value and find growth-drivers for years to come.“

TAV Airports currently operates four out of five airports located on the Turkish Riviera.

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