TAV Airports, a Turkish airport operator and a member of the French Groupe ADP, will acquire the remaining 15% stake in Almaty International Airport for $133 million. Once the deal is completed, the company will become the sole owner of Kazakhstan’s largest airport.
In its annual report, TAV Airports described Almaty Airport as one of Central Asia’s leading aviation hubs. The company noted that the airport continues to deliver strong operating results and is becoming increasingly important to the group’s overall strategy.
According to TAV Airports CEO Serkan Kaptan, international passenger traffic continued to grow steadily in the first half of the year, while the company’s investment program in Almaty remains on schedule.
«Our investments in Almaty are progressing as planned. During the rest of the year, we expect gradual increases in tariffs per passenger to largely offset the impact of lower jet fuel volumes on revenue. We remain focused on increasing aviation revenues, improving operational efficiency, and creating long-term value in Almaty,» Kaptan said.
In the first six months of 2026, TAV Airports served 48.2 million passengers, up 1% year on year. Consolidated revenue increased by 5% to €867.3 million, while EBITDA rose by 3% to €244.8 million.
TAV Airports reported a net profit of €8 million, compared with a net loss of €50 million a year earlier. The company attributed the improvement to higher revenue and the absence of the negative effects of foreign exchange revaluation and deferred taxes, which had weighed on its financial performance in 2025.
Almaty Airport is currently owned by the Dutch holding company Almaty Airport Investment Holding B.V. through TAV Kazakhstan. According to the airport’s 2024 financial statements, 85% of the holding company is owned by Aviator Netherlands B.V., part of TAV Airports, while the remaining 15% belongs to Kazakhstan Infrastructure Fund C.V. (KIF).
The principal shareholder of KIF is Qazaqstan Investment Corporation (QIC), which owns a 95.24% stake in the fund. QIC is a subsidiary of the National Management Holding Baiterek.
Once the transaction is completed, TAV Airports will own 100% of Almaty Airport, meaning the asset will ultimately be controlled by the French airport operator Groupe ADP.
Groupe ADP operates airports in more than 30 countries. In 2025, its airports handled 113 million passengers.
Earlier this year, QIC confirmed that it was in talks to sell its 15% stake in Almaty International Airport to an investor.
Meanwhile, Groupe ADP plans to invest an additional $300 million in the further development of Almaty Airport.
