TAV Airports served 48,2 million passengers in the first half of 2026
TAV Airports announced its financial and operational results for the first half of 2026. During the period, the company welcomed a total of 48,2 million passengers across the airports it operates, including 29,9 million international and 18,3 million domestic passengers.
TAV Airports, a member of Groupe ADP, served 48,2 million passengers in the first half of 2026. During the same period, the company's consolidated revenue increased by 5% compared to the first half of the previous year, reaching €867,3 million.
TAV Airports CEO Serkan Kaptan stated “The first half of 2026 was a challenging period as global economic and geopolitical uncertainty continued. A strong Turkish lira in real terms, geopolitical tensions in the Middle East and higher jet fuel prices put pressure on the aviation industry. Despite these challenges, we delivered stronger revenue and EBITDA growth than passenger traffic, supported by our diversified portfolio, operational flexibility and disciplined management.
In the first six months of the year, we served 48.2 million passengers, up 1% compared to the same period last year. Our airports in Ankara, İzmir and North Macedonia continued to perform strongly, while Almaty delivered robust growth in international passenger traffic. We believe AJet's decision to base additional aircraft at Milas-Bodrum Airport will support our growth in the coming periods.
Financial performance remained solid in the first half of the year, our revenue increased by 5% to €867 million, while EBITDA increased by 3% to €245 million. In the second quarter, both revenue and EBITDA grew by 14% year on year, contributing to a strong first half. Unlike the previous year, when non-cash deferred tax and foreign currency translation expenses resulting from the stronger euro weighed on profitability, net profit returned to positive territory. The opening of new commercial areas at Antalya Airport supported our food & beverage and duty-free revenues. Commercial revenue per passenger also increased.
Pursuant to the decision of VPE Capital, the minority shareholder in Almaty Airport, to exercise its put option under the 2021 Shareholders’ Agreement, we reached an agreement to acquire the remaining 15% stake in Almaty Airport for USD 133 million, resulting in full ownership upon closing. The airport has maintained solid operational performance and continues to enhance its strategic importance as one of Central Asia’s leading aviation hubs.
Our investments in Almaty are progressing as planned. During the rest of the year, we expect gradual increases in tariffs per passenger to largely offset the impact of lower jet fuel volumes on revenue. We remain focused on increasing aviation revenues, improving operational efficiency and creating long-term value in Almaty.
Following the five-year concession extension of the Tbilisi Airport, we started terminal and apron investments. We plan to complete this investment program before the beginning of 2028 IATA season. In Georgia, where traffic was impacted by Middle East conflict related airspace closures, passenger growth resumed in June as regional conditions began to improve. If current conditions continue, we expect this recovery to continue during the rest of the year.
Our first half results once again showed the strength of our business model and the benefits of our diversified portfolio, even in a changing market environment. In the coming periods, we will continue to focus on investments, operational excellence and sustainable growth. We remain committed to creating long-term value for all our stakeholders.
I would like to sincerely thank all our employees for their hard work and dedication. I also thank our shareholders, business partners and all our stakeholders for their continued trust and support.”
KEY PERFORMANCE INDICATORS
(in EURm) | 1H25 | 1H26 | Chg % |
823,5 | 867,3 | 5% | |
EBITDA | 236,7 | 244,8 | 3% |
EBITDA margin | 28,7% | 28,2% | -0.5 ppt |
Net Profit | (50,0) | 8,0 | n.m |
47,6 | 48,2 | 1% | |
- International | 30,2 | 29,9 | -1% |
- Domestic | 17,3 | 18,3 | 5% |
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 2025, TAV Airports welcomed 113 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: Esra Özer, T +90 212 463 30 00 / 2094 and +90 531 500 99 75 Esra.Ozer@tav.aero
