17 airports in 17 years
TAV Airports signed an agreement to expand and operate Yanbu, Qassim and Hail airports in Saudi Arabia, following Madinah Airport. TAV will invest US$400 mln in the expansion of the three airports and operate them for 30 years.
TAV Airports, Turkey’s leading global brand in airport operations, has signed an agreement with the Civil Aviation Authority of Saudi Arabia (GACA) regarding the expansion and operation of the three airports in Saudi Arabia. TAV and its partner Al Rajhi Group will be operating Yanbu, Qassim and Hail airports for 30 years. US$400 mln will be invested for the new terminal and service units to be constructed at the three airports. Started its operations at Istanbul Atatürk Airport in 2000, TAV increased the number of airports it operates worldwide to 17. Signing this agreement, the company will be operating four airports in Saudi Arabia.
TAV Airports President & CEO Sani Şener stated: “TAV has become one of the world's highly-preferred brands thanks to the experience and know-how acquired in airport construction and operation business. TAV's success in the Madinah Airport project, which was the first airport privatization project in Saudi Arabia, opened new doors in this country. With Yanbu, Qassim and Hail airports, the number of airports that TAV operates worldwide will reach 17; while the number of passengers served will increase to 110 million. TAV has its signature in the capital city airports of six countries in the Gulf Region, which is the most challenging market of the world. In the upcoming periods, we will continue to evaluate new opportunities all around the world, particularly in developing countries".
Providing service to approximately 3.6 million passengers in 2016, Yanbu, Qassim and Hail airports will be able to provide service to approximately 11.5 million passengers per year thanks to the estimated US$400 mln investment in total. TAV expects to take over the operation of these three airports within 2017.
After taking over the operation rights, the company will start the construction of new terminals and complete the investment in 2020. TAV will continue to operate the three airports until 2047.
Located in the center of the Arabian Peninsula, Qassim is one of the 13 administrative regions of Saudi Arabia. Qassim Airport is the gateway to the region, where the majority of the country's agricultural production takes place and is a significant tourism destination, and 12 airlines including Turkish Airlines launch scheduled flights to the airport.
TAV has been operating Madinah Airport in Saudi Arabia since 2012. Furthermore, TAV has operations at Jeddah, Riyadh and Dammam airports thanks to its service companies.