TAV eyes third airport investment in EX-YU


Turkey's TAV Airports Holding, which has become a global brand in airport construction projects and operations, has identified its third potential investment in the former Yugoslavia following Macedonia (Skopje and Ohrid) and Zagreb. The company held talks in with the Montenegrin Minister for Transportation and Maritime Affairs, Osman Nurković, in Skopje yesterday where they discussed the planned privatisation of the country's two airports - Podgorica and Tivat. TAV Airports' Business Development Coordinator, Giray Colpan, and TAV Macedonia Board Member, Zoran Krstevski, plan to visit Montenegro where they will examine in further detail suitable concession models with the government. Montenegro previously outlined plans to put its two international airports up for concession after it was unable secure a loan with the European Bank for Reconstruction and Development (EBRD) for the expansion of Tivat Airport. "We are currently working on preparing a concession model with the World Bank and I believe this process will be completed swiftly", Montenegro's Prime Minister, Duško Marković, said. He added that the concession is vital in order for Tivat Airport to follow through with its plans to build a new passenger terminal, extend its runway and overhaul its taxiways.

During its talks with the Minister, TAV noted that, "Skopje Airport was handling some 600.000 passengers prior to its takeover and had links to twelve destinations. We now welcome almost two million passengers per year, offering 37 destinations to travellers. The annual growth rate is 15%". Mr Nurković said he was impressed with the results TAV has managed to achieve in Skopje since winning a thirty-year concession of the airport in 2012. It has since invested 110 million euros in Skopje Airport and a further ten million in Ohrid. TAV also holds a singificnt share in the consortium running Zagreb Airport, which earlier this year opened a new terminal building. The French Aéroports de Paris holds a 38% stake in TAV. The Turkish company runs seventeen airports around the world, including Istanbul's Ataturk.

Montenegro's opposition parties have slammed the government's concession plans, noting that operator Airports of Montenegro is one of the country's most profitable public enterprises. It recorded a net profit of 4.3 million euros last year, despite debt of 19.2 million euros towards it owed by Montenegro Airlines. The government is yet to decide whether both Podgorica and Tivat will be offered to an investor as part of a package or whether the two will be put on the market separately. Other details are also being determined. Turkish companies have shown strong interest in airport investments in the former Yugoslavia. Apart from Skopje, Ohrid and Zagreb, which are managed solely or partially by TAV, Pristina Airport is run by Turkey's Limak Holding, while IC Altyapi is bidding as part of a consortium with Incheon International Airport Corporation and VTB Capital for the 25-year concession of Belgrade Airport.

Comments

  1. Anonymous09:01

    Anyone know how the MNE minister reached Skopje? Was it through Belgrade?

    ReplyDelete
    Replies
    1. Anonymous09:08

      Government jet I would assume.

      Delete
    2. gov jet,but someone has arrived via istambul

      Delete
  2. Anonymous09:04

    Airports of Montenegro is one of the most profitable companies in Crna Gora. Why would you sell it?

    ReplyDelete
    Replies
    1. Anonymous09:14

      Because they need the money to cover losses of unprofitable state companies like Montenegro Airlines

      Delete
  3. Anonymous09:06

    I was against airport privatization but after I read yesterday that they are using airport profit to take out loans for MGX I fully support getting the airports of state hands.

    ReplyDelete
  4. Anonymous09:07

    They do realize that when they sell the airport the new owners won't turn a blind eye towards MGX?

    ReplyDelete
  5. Anonymous09:08

    Good. If TAV did something similar in Podgorica to what they did in Skopje, that would be amazing

    ReplyDelete
    Replies
    1. Anonymous09:11

      Making it a Wizz Air base?

      Delete
    2. Anonymous09:15

      Why not? I would be more than happy with that.

      Delete
    3. Anonymous09:36

      Wizz success in SKP has nothing to do with TAV

      Delete
    4. Anonymous11:25

      Wizz would never have come if the Macedonian government didn't pay them too. That would have happened regardless of TAV.

      Delete
  6. Anonymous09:12

    Would have preferred if they took over Ljubljana as well.

    ReplyDelete
    Replies
    1. Anonymous09:20

      Agree. Maybe some new airlines would have come. Fraport has been a letdown so far.

      Delete
  7. Anonymous09:15

    Podgorica will be hitting a million passengers soon. It needs to expand. The terminal is small.

    ReplyDelete
    Replies
    1. Anonymous09:20

      Yes! This summer was horrible with big lines forming in front of the airport and people standing in 40C heat.

      Delete
    2. Anonymous09:21

      Summer 2017 at TGD
      https://scontent-vie1-1.xx.fbcdn.net/v/t31.0-8/20626479_876357309178944_2785982860676471433_o.jpg?oh=064fce8079b2c979fc6a069a471e57b5&oe=5A713215

      Delete
    3. Anonymous09:28

      Similar to Split ;)

      Delete
    4. Anonymous09:38

      What's interesting that in Podgorica you can't clear immigration until about an hour before your flight.

      Delete
    5. Anonymous09:45

      Because the area after passport control is limited. That's why.

      Delete
    6. Anonymous10:01

      What is the annual capacity at TGD?

      Delete
    7. Anonymous12:02

      I think it's 1 million but I'm not 100% sure.

      Delete
  8. Anonymous09:17

    Interesting. Maybe they get Podgorica and Tivat and are obliged to complete the Berane Airport project too. If I am not mistaken TAV has to build a cargo airport in Stip in Macedonia under the concession agreement.

    ReplyDelete
    Replies
    1. Anonymous09:58

      yes, they have that obligation. I think it's time fpr a court session

      Delete
  9. Anonymous09:20

    Not a surprise. TAV is not managing Istanbul's new airport and they will for sure look to expand their international portfolio to compensate for it.

    ReplyDelete
    Replies
    1. Anonymous09:25

      They have just expanded into Central America and are building Havana Airport's new terminal.

      Delete
    2. Anonymous09:32

      What will happen with Ataturk Airport when the new one in Istanbul is opened?

      Delete
    3. Anonymous00:05

      It will be closed

      Delete
  10. Anonymous09:22

    The only state-owned company that is profitable, but nevertheless, it needs to be privatized.

    ReplyDelete
  11. Anonymous09:25

    show me where they invested 10mio in Ohrid Airport ^^

    ReplyDelete
    Replies
    1. Anonymous09:29

      Did they upgrade the terminal?

      Delete
    2. Anonymous09:35

      ma jok

      Delete
  12. Anonymous09:26

    So another one bites the dust. Now we have under concession or privatization Zagreb, Ljubljana, Skopje, Pristina, Maribor, Portoroz, Ohrid and soon Belgrade.

    ReplyDelete
    Replies
    1. Anonymous09:41

      They will follow eventually

      Delete
  13. Anonymous09:29

    Sarajevo, Dubrovnik and Split will be the only bigger airports left without a concession.

    ReplyDelete
    Replies
    1. Anonymous09:32

      Sad really

      Delete
    2. Anonymous09:35

      Why sad? Dubrovnik and Split can manage on their own, especially Dubrovnik.

      Delete
    3. Anonymous09:37

      It is sad only for the corrupt ruling party of Montenegro which has been in power since WW2 under different names

      Delete
    4. Anonymous10:07

      By conditions that were in Dubrovnik every airport, Zagreb including, could manage on their own. But Matković was fired because he insist to have same model as Dubrovnik instead of concession.

      Delete
  14. Anonymous09:33

    think these two airports have a lot of potential but Tivat can no longer grow without a new terminal. A real shame we won't see any construction there any time soon.

    ReplyDelete
  15. Are Turkish investing 10 milion euros in Morava regional airport?. After visit Turkish President and couple hundreds businesman to Serbia. According to media Morava will be finaly open!
    Let hope to be true.
    Rodney, Kraljevo.

    ReplyDelete
    Replies
    1. Anonymous09:40

      Yes they are

      Delete
    2. Anonymous09:45

      Samo brukaju Srbiju. Tadic i Vucic.

      Delete
  16. Anonymous09:37

    This would be fantastic for Podgorica and Tivat. TAV has proven itself as a good operator in Macedonia.

    ReplyDelete
  17. Anonymous09:41

    TAV in Montenegro would be a disaster

    ReplyDelete
  18. Anonymous09:42

    Tivat is a mess during the summer. Expansion is long overdue.

    ReplyDelete
    Replies
    1. Anonymous09:58

      Unfortunately, it is now unrealistic for them to start until 2018 and by the time they finish it will be 2020.

      Delete
    2. Anonymous10:26

      Even that is optimistic. I doubt construction can start before 2019.

      Delete
  19. Anonymous09:44

    Svako bi mogao da bude selektor ili menjadjer ajeroporta.

    ReplyDelete
  20. Anonymous09:51

    Very interesting to see what all of this will mean for Montenegro Airlines.

    ReplyDelete
    Replies
    1. Anonymous10:02

      They will actually have to pay off their debts and airport fees.

      Delete
    2. Anonymous10:08

      With what exactly?

      Delete
    3. Anonymous10:12

      With state money, what else?

      Delete
    4. Anonymous10:16

      Haven't you read the news from yesterday? The government said it will continue to back Montenegro Airlines financially so no worries.

      Delete
    5. Anonymous10:40

      If they offer MGX and the airports in one package they would kill two flies with one stone.

      Delete
    6. Anonymous11:02

      Which airport operator also runs an airline? I have never head of one.

      Delete
    7. Anonymous01:10

      Prague.

      Delete
    8. Anonymous10:01

      St. Gallen Altenrhein, too! (People's Viennaline)

      Delete
  21. Anonymous10:01

    So we have French, Chinese, Turks and Germans running airports in ex-Yu.

    ReplyDelete
  22. Anonymous10:06

    Good news for Montenegro. These airports should definitely get a professional management.

    ReplyDelete
  23. Anonymous10:08

    What price could they get?

    ReplyDelete
    Replies
    1. Anonymous10:10

      Depends on the period they are given up for concession and what investment is required.

      Delete
    2. Anonymous10:16

      Remember that the model hasn't been chosen yet. They could decide on an outright privatisation like Ljubljana.

      Delete
    3. Anonymous11:02

      I doubt it, that would be too controversial and this already isn't sitting well with the public. They will do a similar deal as the Macedonian government did.

      Delete
    4. Anonymous11:23

      Opposition parties want a referendum to be held in Tivat over this planned concession.

      Delete
  24. Alen Šćuric Purger10:09

    Dakle, danas sam dobio izmjene ugovora o koncesiji ZL Zagreb iz prosinca 2013. I krenuh čitati. Auuuu....

    Članak 2.1.c
    Nadalje, Davatelj koncesije dodjeljuje Koncesionaru ekskluzivno pravo korištenja i
    ostvarivanja koristi od Zemljišta, cjelokupne Nepokretne imovine (uključujući Objekte zračne
    luke i sve uzletno/sletne staze, staze za vožnju zrakoplova i stajanke, ali isključujući Objekte
    Davatelja koncesije) koja se nalazi ili će se nalaziti na Zemljištu, kao i cjelokupnu Pokretnu
    imovinu koja se nalazi na Zemljištu, u svakom slučaju za trajanja Razdoblja koncesije, ali pod
    uvjetima iz ugovora između Društva ZLZ d.o.o. i Vladinog Ministarstva obrane u vezi sa
    zajedničkim korištenjem Zračne luke Zagreb od strane vojske Republike kao i bilo kojeg
    ugovora koji je sljednik tog ugovora.

    Što će reči i USS je pod koncesionarom. Koliko ja znam u svijetu se pod koncesiju daje sve osim USS koja ostaje državi.

    Članci 4.4. do 4.6. definiraju da koncesionar ima pravo na neplačanje koncesijske naknade u slučaju
    - više sile
    - stečaja Croatie Airlines
    - smanjenja broj letova Croatie Airlines
    - bilo kojeg slučaja u kojem pad prometa MZLZ padne za 30% u roku od 3 mjeseca uzstopno unutar 12 mjeseci u usporedbi sa prošlom godinom neovisno o razlogu (to zovu "otežavajuća okolnost")

    U članku 4.9. ako Croatia airlines ne plati i jedan račun prema MZLZ ona ima nekoliko modaliteta svoje zaštite:
    - naplatu bankarske garancije koji je Država pribavila od neke banke ili financijske institucije u visini od 2 milijuna EUR
    - naplatu 1 milijuna EUR iz kapitala MZLZ (mislim da je to onaj garantni iznos koji su morali uplatiti)
    - a može se naplatiti i iz fiksne i varijabilne koncesijske naknade (odgoda plačanja)
    - sve ovo presaje vrijediti ako Država proda večinsko vlasništvo nad Croatiom Airlines - PAZI MOLIM TE ČUDA!!!! Naravno, treba motivirati državu da proda Croatiu

    ...nastavak slijedi...

    ReplyDelete
  25. Anonymous10:10

    What are the passenger results for Podgorica and Tivat airports this year?

    ReplyDelete
    Replies
    1. Anonymous10:12

      http://www.exyuaviation.com/2017/09/ex-yu-airports-handle-over-17-million.html

      Delete
    2. Anonymous10:15

      And since then Tivat has surpassed 1 million http://www.exyuaviation.com/2017/09/tivat-airport-handles-millionth.html

      Delete
    3. Anonymous10:22

      Wow fantastic results for Tivat and Podgorica!!!

      Delete
    4. Anonymous10:46

      So combined, they should have over 2 million passengers this year.

      Delete
    5. Anonymous11:02

      Yes, at least.

      Delete
  26. Anonymous10:19

    Regarding the profitability of Montenegro airports, I honestly would not be surprised if they falsified their financial reports like Montenegro Airlines did for years

    ReplyDelete
  27. Anonymous10:21

    Does anyone have any info about the original plans for Stip? Any progress or is it shelved?

    ReplyDelete
    Replies
    1. Anonymous10:39

      They are still doing "weather studies" but it looks as if it won't be built because the area is not suitable. They said if it isn't built they will invest the planned money into SKP.

      Delete
    2. Anonymous12:08

      they should build one in region of Strumica, it would be strategicly wiser

      Delete
  28. Anonymous10:22

    I agree with other here that Podgorica will need to expand. There are already a number of new airlines launching flights this winter and next summer and more announcements are to come.

    ReplyDelete
    Replies
    1. Anonymous10:32

      Do you know which ones?

      Delete
  29. Whatever they do, they should do it properly through a tender and by collecting all the bids from interested parties. Who knows what other offers they might get, the Montenegrin airports have been performing impressively.
    In terms of just pax numbers growth Skopje is No.1 in ex-yu over the past 5 years. Then Split. And then either Tivat, or Dubrovnik, not sure.

    ReplyDelete
  30. Anonymous10:32

    Is that the Podgorica Airport in the photo?

    ReplyDelete
    Replies
    1. Anonymous10:36

      Yes. With the new terminal opened in 2006.

      Delete
    2. Anonymous10:47

      Thank you

      Delete
  31. Anonymous10:51

    Russians also in the past wanted to get concession of Montenegro airports.

    ReplyDelete
  32. Anonymous10:53

    Hope they get a good price.

    ReplyDelete
  33. Anonymous10:55

    I think this would be a good opportunity for TAV to expand its portfolio in the Balkans.

    ReplyDelete
    Replies
    1. Anonymous11:03

      I'm surprised TAV hasn't bid for Belgrade Airport.

      Delete
    2. Anonymous11:10

      They couldn't. They were disqualified by the fact that BEG limited the range of companies to not having any airport contracts nearby. Since TAV has in Skopje they were not able to bid.

      Delete
    3. Anonymous11:35

      But there were other Turkish companies bidding and there is one still left in the running.

      Delete
    4. Anonymous11:48

      Who are these IC Altyapi? I have never heard of them.

      Delete
    5. Anonymous12:05

      Holding company, mainly in construction. They have built a lot of projects in Turkey as well as Antalya Airport's new terminal

      Delete
    6. Anonymous12:11

      They are bidding as part of a consortium with the Koreans. They would get the contract to build a new terminal in BEG while the management would be up to the Koreans. That is, of course, if they win.

      Delete
  34. Anonymous11:01

    State will have to find a solution for YM before it makes an airport transaction. YM owes millions to the airport and has no way to repay them. State owned airports don't care that much because they are all part of the same family but trust me a foreign operator will.

    ReplyDelete
  35. Anonymous11:10

    Excellent! We should get even more LCCs

    ReplyDelete
    Replies
    1. Anonymous11:23

      Yeah because they brought a lot of those to Zagreb...

      Delete
    2. Anonymous12:05

      I doubt the government in Montenegro will be willing to subdisise foreign airlines like Macedonia has.

      Delete
    3. Anonymous12:17

      What foreign airlines? The only airline they have subsidised is Wizz Air. The tenders for other airlines to apply was just a sham to show they are transparent. Deals were already made with Wizz prior to that. Wizz will spread its moral superiority everywhere but it does business in the Balkans the Balkan way. Acting as a monopolist with backroom government deals.

      Delete
  36. Anonymous11:23

    Good move. Hope they do the same with the airline.

    ReplyDelete
    Replies
    1. Anonymous11:49

      Now that Etihad is out of its equity investment strategy, no one wants to buy and bankrupt airline.

      Delete
    2. Anonymous12:16

      lol

      Delete
  37. Anonymous11:33

    Instead of Europe to maintain and manage ex-yu airports it's Turkey!! What a worse news. It sounds like Balkan to be part of Turkey! Hope not.

    ReplyDelete
    Replies
    1. Anonymous13:53

      Wake up EUROPE

      Delete
  38. Anonymous11:50

    Will there be anything left in ex-Yu that hasn't been sold :(

    ReplyDelete
  39. Anonymous12:06

    So Turkey will control airport infrastructure, an asset of national interest, in 3 countries in ex-Yu.

    ReplyDelete
    Replies
    1. Anonymous12:10

      4 if you include Kosovo

      Delete
    2. Anonymous12:21

      Well in Croatia its only one airport and there are 8 others, none of which are under concession or privatised

      Delete
    3. Anonymous12:26

      Isn't Brac Airport owned by some hotel resort company?

      Delete
    4. Anonymous12:34

      Ah yes, true. I forgot about that.

      Delete
    5. Anonymous13:16

      Croatia will eventually follow. DBV and SPU might be financing their expansions through EU grants and loans but the EU has already said it will no longer finance major infrastructure projects in member states. What will they do in 10 years when they can no longer support their growth? They will go an find a foreign partner.

      Delete
    6. Anonymous13:50

      So, Turkish influence on strategic infrastructure on the Balkans actually ends only at the Slovenian border.

      Delete
    7. They only hold 15% shares of Zagreb airport, they don't run it.

      Delete
  40. Anonymous12:10

    Bravo Crna Gora!

    ReplyDelete
  41. Anonymous12:21

    They might bring down fees. Podgorica and Tivat are quite expensive for LCCs.

    ReplyDelete
    Replies
    1. Anonymous13:01

      I would not say so - look at ZAG, it was expensive anyway and they increased charges even more.

      Delete
    2. Anonymous13:49

      This is what Ryanair said about the market last year. "The expense of flying one passenger from Europe to Montenegro is much higher than, say, to Cyprus".

      Delete
    3. Anonymous15:04

      Talk about the Balkan way of doing business. You offer an inferior product (Montenegro) and charge much higher than well established tourist nations.

      Delete
    4. Anonymous16:08

      The good thing about LCCs currently flying to Podgorica is that they operate year-round and not just seasonal like in Croatia which is a win for customers.

      Delete
    5. Anonymous17:37

      TGD ima manje cijene za LCC nego TIV,npr.I te cijene nikad nisu zvanicno objavljene!Recimo da FR ima cijenu od 300eur za ground handling,landing,pax tax!Jedino manju cijenu ima MGX-NE PLACE NISTA!

      Delete
  42. Anonymous12:30

    Imagine if we finally get our first intra-ex-Yu Wizz flights thanks to this. Podgorica-Skopje and Podgorica-Zagreb!

    ReplyDelete
    Replies
    1. Anonymous12:57

      Nope Wizz je resio da pare trosi u napadu na Aegean, otvara nove linije iz Atine.

      Delete
    2. Anonymous20:22

      lol, you mean Ryanair.

      Delete
  43. Anonymous13:17

    Despite being small there is a market in Mont. Had they opened the market earlier, Podgorica could have be reaching well over one million passengers by now. Instead they were protecting MGX which was falsifying its business results at the time. Hopefully with this concession things will change.

    ReplyDelete
  44. Anonymous13:49

    Hopefully, YM stays afloat :)

    ReplyDelete
    Replies
    1. Anonymous14:00

      It will until the EU sanctions the government for illegal state aid

      Delete
    2. Anonymous14:08

      Montenegro is not part of the EU.

      Delete
    3. Anonymous14:26

      As a candidate country it has to follow through with EU regulations

      Delete
    4. Anonymous16:09

      If only the Montenegro government had the sense of the Macedonian government and instead of funding a massively loss making national airline was instead offering subsidies to low cost airlines the country's tourism will have been way, way ahead from where it is now.

      Delete
    5. Anonymous16:42

      Ryanair will probably expand from Podgorica again soon.

      Delete
    6. Anonymous18:09

      Nobody forbids them.

      Delete
  45. Anonymous14:09

    All those saying how people are against concession or privatization... News flash people don't give a s*it. If they did, the same family would not have ruled Montenegro for this long.

    ReplyDelete
  46. Anonymous15:04

    The two airport system is working quite well in Montenegro because you have Tivat for seasonal traffic and Podgorica for year-round more diaspora oriented traffic.

    ReplyDelete

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