Ferrovial buys 60% of the tourist airport of Dalaman in Turkey for 140 million | companies

Ferrovial’s plan to expand its airport operations has led the company to Turkeywhere it undertook to acquire 60% of the concessionaire of the international airport of Dalman for 140 million euros. This infrastructure focused on tourist traffic, fourth in the country by international travellers, has been operated since 2014 by the YDA Group.

The airport serves the turkish riviera and reached the five million passengers per year. Most arrive or fly overseas, and around half come from the UK. Ferrovial, which was advised by Barclays’ investment banking team, has valued the latter feature by having UK airports such as Heathrow and the regional Glasgow, Aberdeen and Southampton.

The agreement, still being examined by the Turkish authorities, provides for the permanence of YDA with 40% of the capital in the concessionaire. Ferrovial expects to close the operation during this first semester, when it will be done with an infrastructure comparable in terms of traffic volume to the Spanish airports of Fuerteventura and Tenerife North; it is close to Bilbao airport and above Menorca or Santiago airports.

The YDA group took over the Dalaman concession in 2003, from the Directorate General of the National Airports Authority (DHMI), for the construction and operation of the international terminal. The initial operating life was 26 years. The new terminal was opened in 2018, with a capacity of ten million passengers per year and, after that, the operating period has been extended until 2042. The concession was valued at 705 million, of which YDA contributed 10% at the start of operations and has faced a stable annual canon over 25 years since October 2015.

Payment in euros

In addition to being complementary to the other assets of the Spanish company, this Turkish airport has minimal exposure to the local currency (Turkish lira) at invoice your fees in euros. The CEO of Ferrovial airports, Luc Bugejasaid that “this operation is a unique opportunity to diversify our airport portfolio in an area that has become a high growth destination in Turkey for the international tourism market”.

The Turkish Riviera is one of the main centers of the Mediterranean. The aforementioned traffic of more than 5 million travelers before the pandemic represents a growth of 78% compared to the activity in 2006. Dalaman is equipped with two terminals for domestic and international flights and its capacity exceeds 20 million passengers per year.

It also has a platform for more than 40 aircraft, parking for tour operator vehicles and buses, and various auxiliary facilities, such as a sewage treatment plant. Its development plan provides for the construction of a renewable energy production plant.

Despite the continued focus on its strategic markets, mainly US, UK and EuropeFerrovial invests in other geographies such as India, with the entry into the capital of the motorway company IRB Infrastructure, and now in Turkey.

Airport builder and operator

Ferrovial’s new partner, the infrastructure company YDA Goup, offers consultancy, project development, financing, construction and operation of airports. It took over Dalaman in 2003 and also manages Dalaman International Airport. Aktauin Kazakhstan.

As a construction company, it is the author of Boryspil Airport, Ukraine, and Turkey’s Hatay and Diyarbakir. He also led the Turkish Airlines HABOM for the maintenance and repair of aircraft. Currently, the international airport of Turkestan (Kazakhstan), under the concession model.

Huseyin Arslan, Chairman of YDA Group, said that “the strategic alliance with Ferrovial represents a unique opportunity to bring together the combined experience of both companies in the Turkish aviation sector. The synergies arising from our geographical complementarity will connect our customers to new destinations, while offering significant growth potential for both Dalaman and other markets. »

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