TAV Airports announces US$ 941 million revenue in H1 2025

The airport company registered an increase in revenue by 12% to US$ 941 million in the first six months of 2025.

TAV Airports CEO Serkan Kaptan said regarding the financial results: “We completed the first half of the year with 5% international passenger growth which was affected by geopolitical developments in the Middle East in the second quarter. We had strong revenue growth at 12% which was above traffic growth due to higher fees, duty-free spend per passenger growth in existing operations, new commercial areas in Almaty, new catering operations in Antalya and the new TAV Technologies project in Qatar. The Qatar project and TL inflation had affected margins in the first quarter but in the second quarter, our non-Turkish airports had EBITDA growth above revenue and delivered margin expansion. Thus, consolidated EBITDA for the first six months came in at US$270 million with 10% year-over-year growth. Net income continued to be pressured by non-cash items such as deferred tax and translation losses which are due to the appreciation of euro.”

In April, the company opened the new terminal in Antalya where it also started its commercial operations. 

“The investments that we have made in Ankara as per our new concession contract between May 2025 and May 2050 have been completed. In this scope, we built a new 3,750-meter-long runway, 27,000 square meters of taxiways, 85,000 square meters of cargo aprons and a new air traffic control tower. These investments will support the long-term growth of the airport for many years,” said Kaptan.

To meet the growing demand in international travel, in the third quarter, TAV will start the construction of a new international terminal in Madinah of which the company is a 26% shareholder.

“The international terminal and related ancillary facilities such as new connecting roads, utility lines and a car park are expected to require a total investment of approximately 300 million USD. We expect the investment to be completed by 2028 and to be financed with no equity injection from TAV Airports Holding,” said Kaptan.