TAV Airports agrees to buy remaining 15% of Almaty International Airport for $133m
This digest was compiled by AI from multiple sources — links to the originals are below.
TAV Airports, the Turkish unit of France’s Groupe ADP, has agreed to purchase the outstanding 15% stake in Almaty International Airport for $133 million. The deal with the Kazakhstan Infrastructure Fund will give TAV full ownership of Kazakhstan’s largest airport, consolidating it under the French group’s control.
The Acquisition
TAV Airports has agreed to buy the 15% stake in Almaty International Airport held by the Kazakhstan Infrastructure Fund (KIF). The price is $133 million, equivalent to about 63.4 billion tenge. KIF is 95.24% owned by Qazaqstan Investment Corporation, a subsidiary of the national holding Baiterek. Once the transaction closes, TAV Airports will own 100% of the airport, cementing its hold on Central Asia’s busiest hub.
Operational Momentum
CEO Serkan Kaptan said international passenger traffic at Almaty continued to grow in the first half of 2026 and the investment program is on track. He expects gradual increases in per-passenger tariffs later this year, largely offsetting lower revenue from jet fuel sales. TAV reported first-half consolidated revenue of €867.3 million, up 5% year-on-year, and EBITDA of €244.8 million, up 3%. Net profit reached €8 million, reversing a €50 million loss a year earlier.
Groupe ADP Context
TAV Airports is part of Groupe ADP, which operates airports in more than 30 countries and handled 113 million passengers in 2025. The Almaty airport, already 85% owned by TAV through a Dutch holding company, is a key asset in its Central Asian portfolio. Previously, Qazaqstan Investment Corporation had disclosed it was negotiating the stake sale. Earlier reports indicated a planned additional $300 million investment in the airport by the French operator.
What's Next
The deal is expected to close later this year, subject to regulatory approvals. It remains unclear whether full consolidation under Groupe ADP will accelerate tariff increases and how that will affect the airport’s competitive position.
10 sources
TAV Airports agrees to buy remaining 15% of Almaty International Airport for $133m
