TAV Airports CEO Serkan Kaptan presents at Routes World 2023 in Istanbul.
ISTANBUL—Turkish airports operator TAV Airports is eying further expansion opportunities in Central Asia and Sub-Saharan Africa to add to its portfolio of 15 airports across eight countries.
“Our main focus outside Türkiye is the core regions of the Middle East, Eastern Europe, Africa and Central Asia—in particular we are looking at opportunities in Sub-Saharan Africa and we believe that Central Asia has huge potential,” CEO Serkan Kaptan said at Routes World 2023.
TAV, along with Nahco Management Services Ltd. and Planet Project Limited, was in October 2022 selected to operate and develop the international passenger and cargo terminals of Lagos Airport in Nigeria for 20 years. The tender process for this is still ongoing.
Kaptan also pointed to opportunities in Kazakhstan, a country where TAV took over operations at Almaty Airport (ALA) in April 2021. The group has since embarked on a €200 million ($210 million) investment program to double capacity to 14 million passengers per year.
TAV is now 85% beneficial owner of ALA and associated fuel and catering businesses, while the Kazakhstan Infrastructure Fund, managed by VPE Capital and backed by Kazyna Capital Management, holds the remaining 15% stake.
“Back in 2019, Kazakhstan’s traffic was 4.5 million passengers and this year it’ll be about 9 million,” Kaptan said, adding that TAV expects “huge growth” in that market over the coming years.
Elsewhere, TAV is investing €765 million at Antalya Airport (AYT), with the €600 million first phase set for completion in 2025. A further €300 million will be invested at Ankara Airport (ESB).
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