SUPERNEWS

World Wide

IGA Havalimani Isletmeleri AS Eyes Global Expansion in US, Middle East, and Pakistan

Istanbul Airport Operator Targets Global Expansion, Eyes Projects in US, Middle East, and Pakistan with $11 Billion Experience

By Athena Xu

ᐧ

5/8, 09:04 EDT
article-main-img

Key Takeaway

  • IGA Havalimani Isletmeleri AS targets expansion in the US, Middle East, and Pakistan, leveraging its $11 billion Istanbul airport experience.
  • Plans include participating in major projects like JFK and Los Angeles Airport modernization, aiming for global growth with local partners.
  • Strategy involves collaboration with Cengiz Insaat AS and flexible funding based on concession agreements to support international ventures.

Global Expansion Strategy

The operator of Istanbul's new $11 billion airport, IGA Havalimani Isletmeleri AS, is setting its sights on international expansion, targeting projects in North America, the Middle East, and Pakistan. This move is part of the company's strategy to diversify and grow its operations beyond the Turkish borders. Mehmet Kalyoncu, a director at IGA and a key figure from Kalyon Holdings, highlighted the company's ambition to leverage its experience in developing the Istanbul airport to secure involvement in similar large-scale projects globally. The focus is on finding local partners in the US for bids on projects and participating in major airport projects in the Middle East, with a keen interest in the modernization efforts of New York’s John F. Kennedy and Los Angeles Airport due to their complexity and scale.

Infrastructure and Capacity

IGA's Istanbul airport, situated 20 miles outside the city on the Black Sea coast, boasts three operational runways and an area larger than Manhattan. It currently ranks as the second busiest airport behind London Heathrow and has plans to expand its capacity to serve 200 million passengers annually with six runways. This ambitious infrastructure underscores the company's capability and experience in handling large-scale airport operations, setting a solid foundation for its international venture.

Partnership and Funding Approach

In its quest for international expansion, IGA plans to collaborate with project partners and explore funding options tailored to specific projects. While Kalyon Holdings will lead some international projects, IGA aims to involve its project partner, Cengiz Insaat AS, in other ventures abroad. The approach to funding these international projects will be determined by the concession agreements, indicating a flexible and strategic method to finance its global ambitions. The company is in the process of firming up its international expansion plans, with a timeline of 1-2 years to finalize the details.

Management Quotes

  • Mehmet Kalyoncu, a director of IGA Havalimani Isletmeleri AS:

    "We want to start these steps to put our efforts on an international level to maybe find a chance to repeat something possibly similar to what we have achieved."