TAV Airports has signed an agreement with State Airports Authority, DHMI, for an additional investment for renovation and expansion of the international terminal of Istanbul Atatürk Airport.
After DHMI put into service the additional 26 aircraft parking area and taxi ways at Atatürk last week, TAV will invest €75 million in the terminal, and works are planned to be completed in 16 months.
TAV Airports president & CEO, Sani Åžener, explains: “Last week, the new apron investment of DHMI at the air side was put into service. Additional 26 parking lots will bring significant relief to the parking capacity.
“The cargo hangar investments of Turkish Airlines, HavaÅŸ and Çelebi at the new cargo section have also been completed.
“We have signed the agreement regarding the investment consisting of the expansion of the international terminal to the former cargo area, early baggage storage facility and third luggage facility to be built for the increasing transit passenger number of Turkish Airlines and addition of a new check-in isle in the main building.
“We cannot even think that we do not need investing in Atatürk while institutions such as DHMI, Turkish Airlines, HavaÅŸ and Çelebi continue their investments. We always give priority to social benefits as well as financial profitability and interests of the country.
“TAV is one of the exceptional global brands of Turkey. Atatürk has become one of the most important airports of the world and TAV has a significant share in this achievement besides DHMI, Turkish Airlines and other airline companies.
“We will continue our investments in the following six years without compromising service quality and passenger comfort."
As part of the agreement signed by DHMI and TAV, the number of aircraft boarding bridges will be increased from 26 to 34 at the international terminal.
Within the scope of the project, the terminal area will be expanded by 27,000 square metres, while the car park will be expanded by 17,000 square metres.
TAV has the right to operate Istanbul Atatürk until 2021.
All revenues resulting from the commercial areas and advertisement areas within the additional agreement will belong to TAV during the operation period, while revenues gained from new car park will be shared with DHMI.
In the event that DHMI stops operation of Atatürk before the expiry of the concession period, TAV says it has given the guarantee for compensation for its losses.
Providing service to 51.3 million passengers in 2013, Atatürk has achieved a growth of 11% in the number of passengers during the first ten months of 2014.