TAV buys IC İçtaş shares at Antalya International Airport
TAV Airports signed an agreement to buy IC İçtaş shares at Antalya Airport in southern Turkey. TAV will have equal rights in the management of the airport.
Turkey's global brand in airport operations, TAV Airports is buying IC ictas' 49% stake in ICF Antalya, the joint-venture that manages Antalya Airport. Consequently, the number of airports in TAV's portfolio reaches 18 and the annual number of passengers served increases to approximately 141 million. The share purchase agreement between TAV and IC İçtaş will be finalized following the approval by the State Airports Authority (DHMI) and the Competition Authority. As per the agreement, TAV will have co-control of the company and 50% dividend rights. Turkey's second biggest in terms of international passenger traffic, Antalya Airport had served more than 26 million passengers in 2017.
TAV Airports President and CEO Sani Şener said, "As TAV, our core business is airport management and we continue to focus on this industry. We will be happy to partner with Fraport in Antalya, one of the most prominent tourism destinations in the Mediterranean. Four years ago, we had shifted our strategy to grow our airport management portfolio while steering our service companies to grow beyond TAV, in order to compensate for the foreseen closure of Istanbul Ataturk. Today, our services and products are used in 77 airports across 19 countries. In our existing airports, we are serving to 115 million passengers and now we add more than 18 million international passengers, with the inclusion of Antalya in our portfolio. Being the second largest airport in turkey in terms of international traffic, Antalya Airport transaction grows our foothold in Turkey and further underlines our commitment to investing in our home country, and to the Turkish aviation market. With our extensive know-how, we aim to work towards strengthening Antalya's true potential. We'll continue looking for opportunities on a global scale and growing in the airport management industry".
Opened in 1960, Antalya Airport today serves more than 26 million passengers with its domestic and international terminals spanning 178 000 square meters and two parallel runways. The airport has 28 boarding bridges, 94 parking positions for planes and a carpark that can accommodate 2110 vehicles.
Fraport has been operating Antalya Airports since 1999. Lastly, in March 2007, Fraport-IC İçtaş partnership won the tender to operate the airport until 31 December 2024.