TAV Airports confirms that Almaty airport accounted for half of its revenue

In Q1 2023, the Almaty International Airport accounted for 50% of the consolidated revenue of TAV Airports Holding.

The number of international cargo and passenger flights significantly increased in the Almaty airport over the first three months of the current year, the TAV Airports Holding said. These two factors have pushed the airport’s operation results forward. As a result, half of the Turkish holding’s consolidated EBITDA was provided by the Almaty airport.

The Almaty International Airport is one of fifteen airports in the TAV Airports’ portfolio.

The holding runs five Turkish airports: Ankara Esenboga Airport, Milas-Bodrum Airport and airports in Izmir, Gazipaşa and Antalya. The company also controls Tbilisi and Batumi airports in Georgia, Ohrid and Skopje airports in Macedonia, Enfidha and Monastir in Tunisia, Madinah Airport in Saudi Arabia, Riga Airport in Latvia and Zagreb Airport in Croatia.

According to the TAV Airports Holding’s report, the impressive operation results of the Almaty airport were driven by seasonal factors and the company expects the Almaty airport input at 20-25% for the entire year. In 2022, the Almaty airport’s share in the holding’s revenue was 26%.

In the first quarter of 2023, the flow of passengers in the Almaty airport reached 1.9 million (+49% compared to Q1 2022). The number of passengers on international flights increased from 417,000 to 841,000 while domestic flights reported just a 23% increase to 1.07 million passengers.

As TAV Airports Holding noted, the demand for international passenger travel has been growing in all its airports. More generally, the international passenger flow within the company grew in Q1 2023 by 74% over the same period last year.

If compared to the pre-pandemic year of 2019, which is a kind of benchmark for many servicing industries, the holding grew by 36%.

TAV’s report also said that in Q1 2023, the construction of the new terminal in the Almaty airport was 53% complete. The terminal is expected to be ready for work in August 2024. The new terminal will double the airport’s capacity to more than 14 million passengers a year. The holding is expecting that the new terminal will allow its subsidiary TAV Kazakhstan, which is responsible for the management of the Almaty airport, to earn more money on business lounges, food and beverages and duty-free trade. By now, TAV Airports isn’t making money on this.