Fraport TAV Antalya Yatirim Yapim ve Isletme, a joint venture between Frankfurt-based Fraport AG and TAV Airports Holding for the operation of Antalya Airport in Türkiye, has completed the refinancing of a short-term loan with a 3.5-year duration.

The loan was originally used to finance obligations defined under the new lease agreement, including an upfront concession payment and the construction of new infrastructure, in particular the expansion of Terminal 2. The new terminal was inaugurated on schedule on April 12.

The new €2.5 billion ( US$2.83 million ) loan is provided by a consortium consisting of international development banks such as Asian Infrastructure Investment Bank, KfW Group unit Deutsche Investitions- und Entwicklungsgesellschaft ( DEG ), European Bank for Reconstruction and Development ( EBRD ), and International Finance Corporation ( IFC ), along with Alpha Bank, Bank of China, Deutsche Bank, and National Bank of Greece. Turkish banks Akbank, Garanti BBVA, QNB, TEB, Vakifbank and Ziraatbank are also contributing to the financing. Clifford Chance advised TAV Airports and Fraport.

The banking group is providing long-term financing with a maturity of up to 13.5 years. The refinancing supports the joint venture’s vision for sustainable long-term growth and operational stability at Antalya Airport. The aim is to increase the airport’s capacity to 80 million passengers annually, consequently bolstering the regional economy.

Fraport began operating the airport in 1999, via another joint venture holding the old concession. Through a public bidding process, Fraport and TAV Airports in 2021 received the contract for a new concession until the end of 2051. The operational phase of the new concession for Antalya Airport will start on January 1 2027 and run for 25 years.

It comprises operation of the terminal and other landside infrastructure, including retail areas, parking management, and passenger security checkpoints.