Business

TAV Airports gains from continued boost in Turkiye tourism

Passenger numbers at key TAV Airports locations have surged past pre-pandemic 2019 levels in the first nine months of 2023, driven by the continued resurgence in Turkiye’s inbound tourism.

The stable growth in passenger traffic has also boosted retail revenues at these airports.

That’s according to the latest financial results released by TAV Airports, part of Groupe ADP. The data revealed details of the company’s July to September performance and underlined the factors that helped bolster recovery during the period.

TAV Airports CEO Serkan Kaptan said: “Turkish tourism continued to be sought after in the third quarter of 2023 and we are observing that a warmer year is giving way to a longer season, especially in Antalya.

“Across our portfolio of airports, most of our major markets are above 2019 traffic. The number of our guests from Germany is +24%, UK is +48%, Poland is +78%, UAE is +29% above 2019 levels and Russian traffic is at +55% of 2019 level. We are also very pleased to welcome close to one million Kazakh travellers into our airports with a growth of +101% versus 2019.”

The airport company predicted a return of tourist arrivals from Russia into its airports in Georgia amid the partial recovery of passenger traffic from Russia.

TAV highlighted the upsurge in international traffic at Almaty Airport, which was buoyed by the increase in business travel following Kazakhstan government’s programme to enhance the tourism industry in 2023.

The airport recorded seven million passengers for the first nine months of 2023, an increase of +36% compared to the same period in 2022, and up by +47% from 2019.

From January to September,TAV revenue stood at €982 million (US$1.04 billion), up by +30 from the same nine-month period in 2022, and +68% higher than in 2019 on a like-for-like basis (+31% vs 2022 and +17% vs 2019 without the inclusion of Almaty Airport).

The revenues were boosted by a +24% increase in passenger traffic year-on-year. TAV served a total of 74,624,104 passengers across its airports from year to date, including 49,982,409 international and 24,641,695 domestic.

Strong operations across TAV airports also lifted its EBITDA to €321 million (US$340 million), an increase of +20% from the same nine-month period in 2022.

The increase in passenger traffic has also contributed to the notable year-on-year growth across most revenue sources. Duty free revenue was €46.9 million (US$49.7 million), up by +20 and food & beverage revenue rose +41% to €114.2 (US$121 million).

Kaptan said: “In addition to our ongoing investments in Antalya, Almaty and Ankara, our service companies are always actively looking for opportunities to grow their portfolio with TAV Operation Services having grown its portfolio to 86 lounges in 19 countries. Among its most notable lounges we can count lounges in Charles de Gaulle, Orly, Barcelona, Madrid, Ibiza, JFK and Dulles airports.”

Source: moodiedavittreport

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button