TAV Airports Chief Executive Officer Serkan Kaptan told the AA correspondent that, as TAV Airports, they completed the year 2024 in accordance with their financial and operational targets.
Kaptan emphasized that they served 100 million passengers in the 11 months of 2024, an increase of 12 percent compared to the previous year, and that they could reach the year-end target of 110 million, and stated that they could reach the 430-490 million euros they set for the profit before interest, depreciation and tax (EBITDA) target. Kaptan said, “We manage a portfolio of 15 airports in 8 countries. Our global footprint with our service companies has reached 110 airports in 33 countries. We generate approximately 60 percent of our revenues from our international operations. Again, 44 percent of our turnover comes from our service companies that continue to grow outside the airports we operate.” he said.
Noting that there are many geopolitical tensions and economic uncertainties affecting the region where Turkey is located, Kaptan continued as follows:
“Turkey continues to write an exemplary success story in the aviation industry all over the world. We are happy to be a part of it. If we look at our airports in Turkey, we have achieved double-digit international passenger growth in Izmir and Ankara. Antalya is historic with nearly 40 million passengers in the year We have passed the 1 million passenger limit again in Gazipaşa-Alanya, and our Milas-Bodrum Airport will have hosted more than 2 million international passengers. Double-digit growth was seen in Kazakhstan’s Almaty, Georgia’s Tbilisi and Batumi airports, Croatia’s Zagreb and Saudi Arabia’s Medina airports.”
“WE HAVE CONDUCTED A SERIOUS INVESTMENT PROGRAM REACHING 2.5 BILLION EUROS FOR THE LAST 3 YEARS”
Kaptan pointed out the recent increase in traffic on airlines and said, “The rapidly returning traffic after the Covid-19 epidemic has strengthened the long-term predictions for aviation. It is expected that global passenger traffic will double in the next 20 years. This increase is accompanied by a 2.4 trillion dollar airport investment.” TAV Airports will continue to evaluate leadership opportunities on a global scale. We have been carrying out a serious investment program totaling 2.5 billion euros that will form the future of TAV Airports. “2024 was one of the important milestones of this program.” he said.
Referring to their investments abroad, Kaptan informed that they made an investment of 226 million euros in Kazakhstan Almaty Airport, which they purchased and put into operation in 2021.
Kaptan stated that Almaty is in a strategic position on the trade routes between the east and the west, that there has been significant growth in passenger and cargo traffic, that they continue to invest to respond to demand, and that they will continue to develop Almaty with new investments of 150 to 300 million euros in the next 3-4 years. He said they would continue.
Kaptan stated that they are nearing completion of the 750 million euro investment that will increase the capacity of Antalya Airport to 65 million passengers, which they have the right to operate in partnership with Fraport, until 2052, and said:
“We will complete this investment at the end of the first quarter of 2025 and put it into operation in the summer season. With this investment, not only passenger capacity will increase, but also airside parking capacity for existing and new airlines, new services that will improve passenger experience and a significant potential for an increase in commercial revenues.” And we will create it.”
GROWTH IN THE AVIATION INDUSTRY IS EXPECTED TO CONTINUE
Kaptan emphasized that they will complete the new runway, solar power plant and parking lot investment worth 210 million euros at Ankara Esenboğa Airport, whose operating rights have been extended until 2050, next year, and said:
“We expect the Kuwait Airport operation tender, for which we have been qualified, to be finalized in 2025. We also expect progress in the Montenegro project, which we are following. Our service companies, especially TAV Operation Services and TAV Technologies, which are growing on a global scale, will continue to expand their portfolios. ATÜ Duty-Free, BTA, HAVAŞ and TAV “While security is strengthened where they are, they can take advantage of new opportunities in our region.”
Stating that the tight monetary policy implemented by the economic management has enabled them to make significant progress in controlling inflation, Kaptan said that their expectations are that this stance will continue in 2025 and beyond and the priority will be to ensure price stability, and possible interest rate cuts will occur in parallel with this.
Kaptan added that they expect growth in the aviation industry to continue with the work of relevant ministries and industry stakeholders, and that they expect demand to remain strong due to the continuation of geopolitical risks abroad.
