Fraport & Tav Paid 1.81 Billion Euros For New Antalya Airport Concession Till 2051
On March 28, 2022, the partnership of Fraport AG & TAV Airports paid the requisite upfront price to Turkey’s state airports authority (DHMI) for the new concession to manage Antalya Airport for a 25-year term, completing the transaction. It is estimated that this upfront rental payment of 1.8125 billion euros will account for 25 percent of the overall concession cost of 7.25 billion euros (without VAT), which would cover the whole concession term, which will begin in 2027 and expire in 2051.
The new concession was awarded to Fraport and TAV Airports after a competitive auction that took place in December 2021. The present concession agreement between Fraport and TAV Antalya ends at the end of 2026.
For more than two decades, Fraport has worked hard to transform Antalya into one of the most popular tourist destinations in the Mediterranean area, both as an investor and as an airport management. “Today’s upfront concession fee payment demonstrates our strong commitment to one of the most beautiful places in the Mediterranean, as well as our faith in Antalya as a worldwide brand,” said Dr. Stefan Schulte, CEO of Fraport. We expect that the tourist demand in Antalya will continue to expand in the future. Many people will go to Antalya since it is a highly appealing and competitive year-round destination,” says the mayor.
In addition to offering numerous cultural and historical treasures, gastronomic pleasures, immaculate beaches, vibrant nightlife, international conference facilities, sports and events, Antalya is known as the “Gateway to the Turkish Riviera.”
As Schulte said, “We will continue to build Antalya Airport, and make it into a premier gateway for people traveling from all over the globe, in partnership with our TAV Airports partner.”
Additionally, over the next three years, Fraport and TAV will be improving the airside and terminal infrastructure at Antalya International Airport, which will include additional development of the current international and domestic terminals.
Antalya received a record-breaking 35 million passengers early 2019. As a result of the worldwide pandemic, traffic is expected to drop to around 9.7 million during 2020. In the meanwhile, the airport was able to recoup significant traffic momentum in 2021, particularly during the summer and fall months, bringing the total number of passengers to around 22 million.
