The Turkish airport authority, DHMI, has now approved the sale of Bayindir’s share in Antalya Airport International Terminal Investment and Management Inc (AYT) to Fraport AG, which was…
The Turkish airport authority, DHMI, has now approved the sale of Bayindir’s share in Antalya Airport International Terminal Investment and Management Inc (AYT) to Fraport AG, which was agreed upon by the two partners in July 2005.
Thus, the Frankfurt airport Group took over the remaining 50-percent share of Terminal 1 from Bayindir and is now the sole owner of this passenger facility at Turkey’s largest tourist airport.
In addition to the Bayindir share sale, the Turkish airport authority has also approved the proposed change to the concession contract. This was the precondition for a more even distribution of traffic between Fraport’s Terminal 1 and the competing new Terminal 2 in Antalya. Effective immediately, Fraport’s Terminal 1 will be handling the Russian carriers Krasair and Vim Airlines, and once again the Turkish-German holiday charter SunExpress.
The disadvantages Fraport has incurred since the inauguration of the competing Terminal 2 have now been largely removed. This new distribution of traffic is based on the relationship between the existing terminal capacities and is retroactive for 2006 on an annual basis.
The agreement now reached with the Turkish airport authority allows the Fraport Group to continue operating successfully in Turkey.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
