EUR 2.5B long-term financing secured for Antalya Airport
The joint venture between TAV Airports and Fraport AG, established for the operation of Antalya Airport, successfully refinanced the short-term bridge loan with a 13.5-year project finance facility.
The new loan of €2.5 billion is provided by a consortium of lenders consisting of Akbank, Alpha Bank, Asian Infrastructure Investment Bank (AIIB), Bank of China, Deutsche Bank, German Investment Corporation (DEG), European Bank for Reconstruction and Development (EBRD), Garanti BBVA, International Finance Corporation (IFC), National Bank of Greece, QNB, TEB, Vakıfbank, and Ziraatbank.
TAV Airports Deputy CEO and CFO Burcu Geriş said “We are happy to successfully conclude the long-term financing of Antalya Airport project. The signing coincides with the inauguration of the new facilities. Antalya is the largest tourism destination in the Mediterranean and Türkiye’s second busiest hub in terms of international traffic. It is a strategic investment that will provide the necessary infrastructure to support the region’s long-term development. The refinancing is a show of trust to the project, our successful track record and Türkiye’s tourism industry.”
EUR 850M invested in new infrastructure
TAV Airports and Fraport co-control the airport since 2018. In December 2021, TAV Airports and Fraport was selected in a tender for the new concession starting in 2027 for another 25 years, until the end of 2051.
For the 25-year period beginning December 2026, total concession rent to be paid is 7.25 billion EUR + VAT. A quarter of the total concession fee was paid upfront to the State Airports Authority (DHMI) and the first phase of the expansion works amounted to 850 million EUR.
A 3.5-year short-term loan was used to finance the upfront payment and construction works.
New terminal inaugurated
TAV Airports and Fraport newly established JV completed the first phase of expansion works in Antalya in less than three years. In the first phase, annual capacity is 65 million passengers and during the concession period the capacity will reach over 80 million passengers.
Area of international terminal T2 and domestic terminal almost doubled to 225 000 sqm and 75 000 sqm, respectively. Total commercial area almost tripled and the lounge, F&B and retail offers at T2 are completely redesigned.
Additionally, 1.4 million sqm of apron works significantly increased the number of aircraft parking spaces to 202. A multi-story carpark, new taxiways, connecting roads, aircraft maintenance hangars, general aviation terminal and other facilities are completed as part of this first phase of investments.
Top environmental credentials
Antalya Airport’s T2 International Terminal and T4 Domestic Terminal extension projects will be registered for LEED Gold accreditation -one of the highest international standards in energy efficient buildings.
Airport is already accredited at Level 3+ Carbon Neutrality at the Airport Carbon Accreditation (ACA) program. In this first phase, a 4-MW solar power plant is installed as part of the expansion works.
38 million passengers in 2024
In 2024, Antalya Airport served a total of 105 airlines flying to 229 destinations -214 international and 15 domestic- in 52 countries.
It served 31.7 million international and 6.6 million domestic passengers -the highest in its history.
About TAV Airports
TAV Airports provides integrated services in all areas of airport operations, with a global footprint at more than 100 airports in more than 30 countries. In 2024, TAV Airports welcomed 107 million passengers across its portfolio. A member of Groupe ADP, TAV Airports is part of the leading airport management platform globally. Through its subsidiaries, TAV is active in airport service businesses, including duty-free, food and beverage, ground handling, IT, private security and commercial area management. The company is quoted on Istanbul Stock Exchange.
For further information: Erhan Ustundag
+90 212 463 30 00/2097 and +90 530 228 80 59
erhan.ustundag@tav.aero
www.tavairports.com
