TAV on course to double passenger numbers by 2020; Aggressive expansion paying off

Turkey’s TAV Havalimanlari Holding AS (TAV Airports Holding), Turkey’s largest airports operator, has reported its financial estimates for the full year 2009. Anticipating growth in revenues and EBITDA, TAV has shrugged off a difficult start to 2009 when it was bogged down with the outlay on a new airport in Tunisia and insufficiently controlled costs. Expanding in Turkey, Africa, the Balkans and the Middle East, TAV continues to reap benefits accruing from the reborn Turkish Airlines, an airline that, with a whole raft of geographical, economic and social factors in its favour ‘could have been Emirates, before Emirates’. [1972 words]

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This report contains the following subheadings:

• Seeks to double its passenger numbers by 2020
• Saudi JV deal to bear fruit?
• So glad to gab at GAD
• Expansion at the rival Istanbul airport – and a third one is still under review
• Government to throw USD3.5 billion at aviation in 2010
• THY ranks with Ryanair in EBITDAR margin
• IPO for Pegasus Airlines

This report contains the following charts and tables:

• TAV financial highlights (EUR millions, estimates): 2009
• Key Turkey data: 2008 World Bank Data
• Chart: Major scheduled service airports in Turkey