Spain’s Ferrovial to buy 60% of Turkey’s Dalaman airport for €140 million
Spanish transportation company Ferrovial S.A (earlier Grupo Ferrovial) has agreed to acquire a 60% stake in the company that manages Turkey’s Dalaman International Airport for €140 million.
Turkey’s YDA Group, which currently operates the airport, will continue to hold a 40% stake. The deal, which needs to be cleared by Turkish authorities, is set to be completed in the first half of 2022.
“This is a unique opportunity to diversify our airport portfolio in an area that has become a fast-growing destination in Turkey for international tourism,” Luke Bugeja, CEO of Ferrovial Airports, said in a statement.
YDA Group has been operating the airport since 2006. In 2014, it was awarded a 26-year concession to operate the airport. This was later extended to 2042.
The concession agreement included the construction of a new international terminal that came into service in 2018. Under the concession agreement, fees per passenger are set and collected in euros, with the result that the bulk of the airport’s revenue is in the European common currency.
Dalaman Airport is located on the Turkish Riviera, one of the most attractive tourist areas in Turkey and the Mediterranean, with numerous cultural, sports and leisure facilities. Before the pandemic, it was handling 5 million passengers a year, most of them international. This was up 78% since 2006. The airport ranks fourth in Turkey in terms of international passenger numbers.
The airport has two terminals, one domestic and one international, with capacity for over 20 million passengers per year, an apron for over 40 aircraft. It also has parking spaces and ancillary facilities such as a water treatment plant. It also plans to build a renewable power plant.
Ferrovial is a Spanish multinational company involved in the design, construction, financing, operation and maintenance of transport infrastructure and urban services.
Founded in Turkey in 1954, YDA is a diversified group with interests in construction, civil aviation, real estate, healthcare, energy, services and outdoor advertising.