TAV Airport Holdings will take over operating rights of the Milas-Bodrum Airport from 2015, after it emerged as the highest bidder for the tender.
A bid of €717m plus value added tax was placed by TAV, which competed against three other consortiums including operator Astaldi-Göçay-ROM Airport JV, YDA Construction and Fraport IC JV.
As per terms in the tender, TAV will begin operating the International Terminal from 22 October 2015, while operating rights of domestic terminal will be handed over as per the date set by the General Directorate of State Airports Authority (DHMI).
TAV will serve as the operator of Milas-Bodrum Airport until the end of 2035.
TAV Airports president and CEO Sani Sener said: "Milas-Bodrum Airport connects a significant tourism center to the rest of the world having passenger traffic higher than 3.5 million.
"Milas Bodrum Airport becomes the 14th airport in our portfolio. Bodrum is a candidate to be the 4th largest city of Turkey in 2025.
"There is a 20% down payment; however we already have our financing at hand. We will undertake this project with 30% of shareholder's equity and 70% financing."
Located between Milas and Bodrum, Milas-Bodrum Airport was opened to international traffic in 1997 and is one of the busiest airports of Aegean Region of Turkey.
Located 32km away from Bodrum, 12km from Milas and 82km from Didim, the airport plays a very significant role in the transportation to tourism centres such as Didim, Kusadasi, Söke of Aydin province as well as Mugla, Turkey.
Image: TAV Airports to operate Turkey's Milas-Bodrum Airport. Photo: courtesy of Madmick13.