Turkey's TAV increases profit by 51 pct in Q1

ANKARA

 Turkey's leading airport operator TAV Airport Holding has posted a net profit of €31 million ($36 million) in the first quarter of the year - a rise of 51 percent on the previous year,  the company has announced.

The company's revenue was also up by 20 percent to €227 million.

Sani Sener, TAV Airports Holding President & CEO, said in a statement: "We made a strong start to 2015 in the first quarter.  While passengers served grew at 7 percent, revenue grew at 20 percent year-a-year, mainly thanks to strong growth in non-aeronautical revenue and favorable forex movements.

"With full vertical integration in all areas of airport operations and services, TAV Airports holds a key competitive advantage in the global aviation sector. Our initiative to focus additional growth in the coming periods on service companies bore fruit very quickly."

Sener added: "In addition to the airports that we actually operate, through our service companies, we now provide a diverse array of services across the globe, which spans our footprint across 54 airports around the world.

"This clearly demonstrates that TAV Airports is now a global company." 

TAV operates two of Turkey's busiest airports; Istanbul Ataturk and Ankara Esenboga as well as Izmir Adnan Menderes, Gazipasa Alanya and Milas Bodrum Airports.

It also operates Tbilisi and Batumi Airports in Georgia; Monastir and Enfidha-Hamammet Airports in Tunisia; Skopje and Ohrid Airports in Macedonia, Medinah Airport in Saudi Arabia and Zagreb Airport in Croatia.

TAV is also active in other areas of airport operations including duty free, food and beverage, ground handling, IT, and security and operation services.

TAV also operates duty free, food and beverage and other commercial areas at Riga Airport in Latvia.