Tuesday 9 August 2022

TAV to boost stake in Saudi airport operator

ISTANBUL, September 6, 2016

Turkish company TAV Havalimanlari Holding has started talks with Saudi Oger to purchase half of its 33.3 per cent stake in Tibah Airports Development Company, the operator of Madinah International Airport in Saudi Arabia.

Madinah airport, which had served a record 5.8 million passengers last year, is being operated by Tibah Development since 2012 under a 25 year concession ending in 2037.

Once the share purchase is done successfully upon getting necessary approvals from the stake holders, the TAV stake in Tibah Development will increase to 50 per cent.

A major player in the Middle East region, TAV Airports said one of its subsidiaries TAV Operation Services recntly won the tender for the operating rights of the private passenger lounge at the New Terminal Building of Muscat in Oman.

The company now operates 40 passenger lounges in eight countries across the globe.

Primeclass, the brand of TAV Operation Services providing solutions for the passengers who are seeking comfort during their travels, has added Muscat in its service portfolio as the 20th airport.

TAV said it had won the operating rights of the passenger lounge for 10 years by placing the highest bid amongst the seven companies that joined the tender.-TradeArabia News Service


Tags: TAV | Madinah | Operator | Saudi airport |

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