2.37 bln euro bid for Antalya Airport
Posted by meb at April 13th, 2007
Operation rights for Turkey’s second-busiest airport, Antalya Airport, were leased to the Fraport-AG-İçtaş joint initiative with its 2.37 billion euro bid for 17 years and 107 days. The bid of the other participant in the tender, TAV — constructor and operator of İstanbul Atatürk and Ankara Esenboğa airports — remained at 2.26 billion euros. The operation rights of the airport will be handed over on Sept.14. Eighteen percent of the bid will be paid at that time in cash, 7 percent will be transferred to the Treasury in September 2008 and the remaining 75 percent will be paid in equal installments over 15 years.Chairman of İçtaş’s parent company, Çeçen Holding, İbrahim Çeçen said that the bid was a record and they had studied for days and nights to reach that amount. “Now there is a new player in the sector that can take on huge international projects like TAV,” he said. Fraport Vice President Andrea Pal said they would not invest in Turkey’s future if they were not confident about it.
TAV Holding Chairman Hamdi Akın said that their bid was a fairly good one and indicated the value was a signal of trust in Turkey. He said they had been planning to make a bid higher than they had made for İstanbul Atatürk Airport and noted they had achieved that. Besides Fraport-İçtaş and TAV, Çelebi-Wien Airport joint initiatives also participated in the tender, which was held at the state’s Airports Administration Headquarters on Thursday. Çelebi-Wien Airport was eliminated from the tender for not meeting the technical requirements. Then the tender was carried out with the remaining two bidders by auction.
source: Today’s Zaman
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Dear ladies and Gentlemen,
I have read your article about Germany’s Company Fraport Ag (Frankfurt Airport Services Worldwide). For some reasons I cannot entirely specify in this letter, I have analyzed the business and management situation of Fraport AG.
It is certain that in the next 3 to 5 years the company will face a major breakdown similar to Enron or Parmalat. It’s not just because of the enormous expenses to build a new runaway and a new terminal, but also because of wrong management and some illegality like the ones in the Manila case. All figures I could analyze have been tricked and are inaccurate. Since they are listed in the stock market (since just a few years) they have to produce this official data and most of them are totally FAKED!
Fraport AG, through his enter in the stock market, was able to capitalize around 1 billion euros mostly for the purpose of building the new runaway and the third Terminal. Due to wrong management most of this money is gone! To let the project for the new runaway being accepted by the authorities they had to pay a chemical company called Ticona about 600 millions euros to move into another geographical area (because the approaching area of incoming airplanes)!
After having built it 9 years ago they had to dismantle the train station out the airport to build a new center and the costs are around 30 million euros. Terminal 1 and 2 have been renewed (while Terminal 2 should have been adapted for the A380) and all the expenses where more than the ones calculated! You have just to look into this company to see that something is profoundly wrong! Probably, as soon as major investors will realize that the German Government will have to intervene, but that’s just one possible scenario. I could write more and extensively but if you want to go into details you can make your own researches and see by yourself. Fraport will be the German ENRON in the next 2 to 5 years. What a pity for the poor little investors…
The Germany’s Company Fraport Ag (Frankfurt Airport Services Worldwide) has never produced in any country a profit for the local society or any good for the environment. Their feasibility plans are mostly tricked and if analyzed carefully you can see that are written by amateur more than professionals. In Manila Fraport was throw out because of illegal procedures, the same could not be proved in Antalya (Turkey), but some suspicions have been raised by the authorities. All over Fraport AG always lose when in competition with serious airports: it was the case of Varna when they have lost in favor of the Society of Copenhagen Airports or Egypt where they lost against the French society of Aeroport de Paris. Indian authorities are at the moment inquiring behind the scenes of the contract they had for two airports there. At some point even Fraport stockholders are going to realize what frauds are behind the curtains of this company.
james gandolfini