Batumi International Airport

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In May 2007, the government of Georgia granted to TAV Urban Georgia a 20 year lease contract to operate Batumi International Airport. The contract was granted a few days before the new Batumi International Airport was inaugurated. The airport was modernized TAV Urban Georgia under the Tbilisi International Airport concession agreement between the government of Georgia and TAV Urban signed in 2006. Under that contract TAV had an option to increase the initial duration of the Tbilisi International Airport concession from 11.5 years to 15 years by designing, financing and constructing but not operating the Batumi International Airport for $15 million. TAV Urban Georgia, was a joint venture formed by four companies: TAV (60 %), Flughafen Wien AG (VIE) (10%) and Urban (30%). Under the lease contract, TAV Batumi Operations LLC, agree to pay US$ 28.5 million for 20 year operating rights. The Batumi Airport had a passenger capacity of 562,500 a year.