TAV Airports served 89 million passengers in nine months
TAV Airports announced financial and operational results regarding the first nine months of the year. The company welcomed 59 million international and 30 million domestic passengers across its portfolio.
TAV Airports, a member of Groupe ADP, announced EUR 1461 million consolidated revenue for the first nine months of 2026. During the same period total passenger traffic increased by 3%.
TAV Airports CEO Serkan Kaptan stated the following remarks after 2026/9M Financial Results.
“The first nine months of 2026 were challenging, as global economic and geopolitical uncertainties continued to weigh on the operating environment. Ongoing geopolitical tensions in the Middle East and elevated jet fuel prices continued to put pressure on the aviation sector. Nevertheless, thanks to our diversified portfolio, operational flexibility and disciplined management approach, we achieved revenue and EBITDA growth ahead of passenger traffic growth.
Between January and September, our total passenger numbers increased by 3% year on year to 89.4 million. Ankara and İzmir airports in Türkiye, along with North Macedonia and Almaty airports in our international portfolio, made significant contributions to passenger traffic growth.
Our financial performance remained strong. In the first nine months, revenue increased by 5% year on year to €1.4 billion, while EBITDA rose by 7% to €502 million. We also maintained our growth momentum in the third quarter, with revenue increasing by 5% and EBITDA by 11% year on year. Most substantial change of financial results has been observed as net profit for the first nine months more than doubled and reached €173 million, supported by a more favourable currency and tax environment.
On the commercial front, the new commercial areas that opened at Antalya Airport last year contributed for a full year for the first time, supporting our food and beverage and duty-free revenues. This led to an increase in commercial revenue per passenger, with duty-free spend per passenger increasing by 21%, reaching €10.0 from €8.3.
We continue to pursue our investments and operational improvement initiatives at Almaty Airport in line with our strategic plans. The additional increase in passenger tariffs secured in the third quarter marked an important step in our strategy to strengthen aeronautical revenues. We expect the new tariffs, particularly from the final quarter of the year onward, to offset the revenue impact of lower jet fuel sales volumes.
In Georgia, following the five-year extension of our operating concession at Tbilisi Airport, we continue to invest in terminal and apron infrastructure for enhancing the capacity to meet ever-increasing travel demand to the country. Although passenger traffic to the country was affected by airspace closures stemming from tensions in the Middle East during the second quarter, growth regained strong momentum from June onward as regional conditions improved.
The results achieved in the first nine months confirm the strength of our diversified airport platform and our ability to create value through both passenger growth and commercial revenue optimization. As we enter the final quarter of the year, we remain confident in the resilience of air travel demand across our markets and in our ability to continue delivering sustainable growth for our shareholders and stakeholders.
I would like to express my sincere gratitude to all our colleagues, whose dedication and commitment have been instrumental in our achievements during this period. I also thank our shareholders, business partners and all our stakeholders for their trust and continued support.”
KEY PERFORMANCE INDICATORS
(in EURm) | 9M25 | 9M26 | Chg % |
1,389.8 | 1,461.1 | 5% | |
EBITDA | 467.4 | 501.8 | 7% |
EBITDA margin | 33.6% | 34.3% | 0.7ppt |
Net Profit | 75.3 | 173.4 | 130% |
87.2 | 89.4 | 3% | |
- International | 58.8 | 59.2 | 1% |
- Domestic | 28.4 | 30.1 | 6% |
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: Erhan Ustundag, +90 212 463 30 00/2097 and +90 530 228 80 59
erhan.ustundag@tav.aero
