Milas Bodrum Airport

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In March 2014, TAV Airport Holdings was awarded a 20-year lease transfer concession to manage Turkey’s Milas-Bodrum Airport located in Mugla province by Turkey’s State Airports Authority (DHMI). TAV Airports Holding submitted the highest bid of USD 981 million plus VAT for the operating rights of the Milas-Bodrum Airport (both the domestic and international terminals) for 20 years. The airport handled 3.6 million passengers in 2013, of which 1.9 million were through the international terminal. Other bidders in the international competitive tender for the concession were - Fraport IC JV, Astaldi-Göçay-ROM Airport JV and YDA Construction. TAV Airports Holding made an advance payment of USD 191.4 million, 20% of the bid amount, in August 2014. The sponsor was expected to pay the remainder of the bid amount over the life of the concession. TAV did not plan to make any significant capital investments to upgrade or redevelop the existing facilities other than necessary system upgrades, as both the domestic and international terminals were in good condition. The international terminal was built two years ago at a cost of roughly €100 million. The company started operating the domestic terminal on July 15, 2014. Under the tender terms, the company was expected to take over the operation of the international terminal from October 22, 2015.