IFC Supports Antalya Airport Expansion to Strengthen Türkiye’s Tourism Sector

• New €200 million investment will ensure sustainable long-term financing of airport expansion.
• IFC’s third investment supports the airport’s development and modernization.
• Antalya is Türkiye’s second-largest airport by international passenger traffic and a key tourism gateway in the region.  

Istanbul, Türkiye, April 30, 2025—IFC has announced a new investment to support the long-term refinancing of a project to modernize and expand Antalya Airport, Türkiye’s second largest by international passenger traffic. The expansion is helping to enhance the airport’s capacity and improve its services, bolstering the country’s key tourism sector and helping to drive economic growth.

The €200 million investment in Fraport TAV Antalya Yatirim Yapim ve Isletme (Fraport TAV), a joint venture between Fraport AG and TAV Airports Holding, which manages and operates the airport terminals, marks IFC’s third in Antalya Airport, building on previous commitments in 2023 and 2024. It aims to replace short-term loans with a 13.5-year financing arrangement to ensure sustainable long-term funding. IFC is also mobilizing an additional €115 million from other investors.

TAV Airports Deputy CEO and CFO Burcu Geriş said: “We are happy to partner with IFC and successfully conclude the long-term financing of Antalya Airport project. The signing coincides with the inauguration of the new facilities. Antalya is the largest tourism destination in the Mediterranean and Türkiye’s second busiest hub in terms of international traffic. It is a strategic investment that will provide the necessary infrastructure to support the region’s long-term development. The refinancing is a show of trust to the project, our successful track record and Türkiye’s tourism industry.”

Michael Reusch, Member of the Board of Fraport TAV nominated by Fraport AG, said: "Partnering with the IFC on this refinancing initiative is pivotal for strengthening Antalya Airport's financial foundation and supporting its growth as a key gateway to the Turkish Riviera. This collaboration underscores our commitment to sustainable development in Türkiye's aviation sector, paving the way for enhanced infrastructure and workforce opportunities."

The project’s first phase, which includes the expansion of the international terminal T2 and the domestic terminal new apron and carpark areas, and the construction of new aviation and cargo terminals, was inaugurated on April 12. The expansion is expected to add $6.6 billion in value to Türkiye’s economy, with 93,000 direct and indirect jobs.

“This long-term financing is pivotal for Türkiye’s tourism sector, a significant contributor to the country's economic growth and jobs. The expansion and modernization of Antalya Airport will enhance its capacity to serve more international travelers, which will stimulate the local economy and elevate Türkiye’s standing in the global tourism industry,” said Wiebke Schloemer, IFC Director for Türkiye and Central Asia. “We also welcome the airport’s measures to address hazards such as heat, water stress, and extreme weather, which demonstrate our shared commitment to sustainability.”

Tourism continues to play an important role in Türkiye’s economy, accounting for about 12 percent of GDP and providing 10 percent of national jobs. Antalya is Türkiye’s second-largest airport by international passenger traffic and a key tourism gateway, handling more than 38 million passengers in 2024 and driving over 15 million tourist arrivals.

Türkiye represents IFC's third-largest country exposure globally, with a committed portfolio of around $5.5 billion as of April 2025.

About Antalya Airport

Antalya Airport, operated by a joint venture between TAV Airports Holding and Fraport AG, served more than 38 million passengers in 2024. With the second busiest airport in Türkiye in terms of international passenger traffic, Antalya is the largest tourism hub in the Mediterranean. In December 2021, TAV Airports Holding and Fraport A established a new JV and based on a tender process, were awarded a new concession to operate Antalya Airport until December 2051.