Antalya Airport Terminal Aerial

TAV Airports Achieves Remarkable Financial Growth in 2023

TAV Airports has announced its financial and operational outcomes for the year 2023, showcasing an impressive 22% increase in passenger traffic, serving 96 million passengers.

This growth has propelled the company’s revenue to a significant EUR 1.3 billion, marking a 25% increase from the previous year and setting a positive trajectory for future growth with expectations of 100 to 110 million passengers in 2024.

Under the leadership of CEO Serkan Kaptan, TAV Airports, a key player in the Groupe ADP network, not only surpassed its 2022 passenger count by 22% but also outperformed its pre-pandemic levels by 7%.

This success, attributed to a milder winter and strong international passenger traffic, signals a robust recovery in the aviation sector, particularly with notable increases from major source markets such as Germany, the UK, Poland, and the UAE.

The company’s strategic investments, including the significant development at Almaty Airport, are set to further cement its position in the global aviation landscape. With the upcoming opening of a new terminal in Almaty in June 2024, TAV Airports is poised to enhance Kazakhstan’s role as a critical hub between Europe and China, leveraging global cargo traffic trends and boosting the country’s outbound tourism sector.

TAV Airports is also making substantial progress with its investment program in Turkiye, particularly with the expansion of Antalya Airport and upgrades at Ankara Esenboğa Airport. These developments are expected to significantly increase passenger capacity and retail offerings, enhancing the overall passenger experience and commercial performance.

The company’s ambitious investment strategy, totaling EUR 2.5 billion from 2021 to 2025, underscores its commitment to the future of aviation in its core markets. This investment includes the successful issuance of a USD 400 million bond, underscoring investor confidence in TAV Airports’ financial health and strategic direction.

With a robust year-end financial performance, including a 25% increase in revenue and a net income growth of 104%, TAV Airports is optimistic about continuing its upward trajectory in 2024. The company’s focus on lounge and hospitality, IT, and ground handling services is expected to drive revenue growth beyond passenger numbers.

In addition to its financial achievements, TAV Airports is committed to sustainability, with initiatives to build solar power generation capacity in Turkiye.

As TAV Airports moves towards completing its heavy investment program by 2025, the company expresses gratitude towards its employees, shareholders, and partners for their contributions to its success and global brand development.

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