Turkey-based airport builder TAV is reportedly in discussions with the country's state airport authority over the construction of a new €100m international terminal at Istanbul's Ataturk Airport.
The new terminal is expected to increase the capacity of the Turkish Airlines hub by over ten million passengers annually.
Currently operated by TAV, Ataturk Airport is Europe's third-busiest airport and served 51 million passengers in 2013, up 14% year-over-year.
TAV chief executive Sani Sener said: "We are seeking to raise Ataturk Airport's capacity to 65 or 70 million passengers until our contract is finished."
The proposal for the new terminal has reportedly become a prime focus following the rejection of a government plan to replace Ataturk by building a new airport.
The project, which outlined the construction of one of the world's largest airports with investments of $30bn, was delayed following concerns over financing as well as legal issues over its environmental impact.
As TAV's contract to operate the facilities at Ataturk will expire in 2021, the company is seeking investments in other regions.
TAV expects a decision to be made in July or August over its joint bid to rebuild and operate a terminal at New York's LaGuardia Airport.
LaGuardia operator Port Authority of New York & New Jersey started a tender process for firms interested in redeveloping and operating the New York airport's main central terminal.
Modern airlines cannot use the terminal due to its outdated design, which is also responsible for delays at the airport.
The New York airport project is expected to cost $3.6bn and would be completed by 2021.