The consortum won the contract after agreeing to pay the Turkish government a hefty €22.1 billion over a 25 year period following the airport’s planned 2017 opening.
The news is a huge blow for both Turkish airport operator, TAV Airport Holdings, and Germany’s Fraport Group, both of which made it through to the final stage in the bidding session.
Both TAV and Fraport – the latter bidding in a joint-venture with Turkey’s IC Holding – withdrew from the race earlier today when the price for the airport soared beyond their expectations.
TAV Airports CEO, Dr Sani Sener, commented: “We have prepared meticulously for the new airport tender in Istanbul with world-renowned consultants and our expert teams in TAV Group.
“Therefore, we participated in the tender with the right numbers found as a result of this preparation. As a 44% publicly traded company, we’re responsible to our investors.
“Knowing that this is not solely a construction project but operational capability is pivotal, we have declared that we would not aim at winning the tender at any cost. Such an approach would jeopardise the company’s health, as well as the future of Turkish economy and aviation sector.
“As Turkey’s leading global brand in airport operations, we will continue to work towards rendering the best possible travel experience at the 12 airports we operate in six countries.
“As per our smart growth strategy, we’ll continue to pursue new opportunities around the world.
“I hope that the result of this tender would benefit highly our country and its aviation industry.”
The new airport will eventually have three runways – for simultaneous use – and a capacity of 150mppa.