Airport operator posts 122 mln liras in profits

ISTANBUL - Anatolia News Agency

TAV Airports Holding offers services to nearly 53 million every year. DHA photo

TAV Airports Holding, the Turkish group active in airport construction and operations projects, posted a net profit of 122.6 million Turkish Liras in 2011, up from 98.9 million liras in 2010, according to a company statement Feb. 24.

TAV Airports Holding was established in 1997 as a joint venture between the Tepe and Akfen Groups, the winning bidders for construction of Istanbul Ataturk Airport International Terminal Building, which is among the very first examples of “Build-Operate-Transfer” airport operation projects in the world.

TAV reorganized its structure in 2006, and brought its “operational” and “construction” activities under the TAV Airports Holding and TAV Construction. Following this reorganization, TAV Airports Holding was taken public in February 2007.

The holding will undertake the operations of Medina Airport, the first privatization project of Saudi Arabia in the first half of 2012.

The holding provides services to approximately 451,000 flights and 53 million passengers each year.