Page 80 - TURKRptSept19

TAV Havalimanları Holding, Turkey’s largest airport operator, operates Antalya, Ankara Esenboga, Izmir Adnan Menderes, Milas Bodrum and Gazipasa Alanya airports in Turkey as well as Tbilisi and Batumi airports in Georgia, Monastir and Enfidha-Hammamet airports in Tunisia and Skopje and Ohrid airports in Macedonia. Madinah Airport in Saudi Arabia and Zagreb Airport in Croatia are also operated by TAV Airports. TAV Airports is also active in other areas of airport operations including duty free, food and beverage, ground handling, IT, security and operation services.
The company is targeting serving 90mn to 94mn passengers this year. Aeroports de Paris Group owns 46.1% of TAV.
● Pegasus
Turkey’s leading low-cost carrier Pegasus’ share price has been breaking consecutive records since June while the share price movement has escalated further after the company released its Q2 financials on August 8. Pegasus shares rose 163% ytd to TRY60.2 as of August 19 while they were up 26% since August 8. Meanwhile, Borsa Istanbul’s benchmark BIST-100 nosedived to the 95,000-96,000s from the 102,000-103,000s at the end of July while the USD/TRY exchange rate has been under the control of the government within a new channel of 5.45-5.65 since the beginning of August.
Pegasus’ main advantage is the troubles of its main competitor, Turkey’s national flag carrier Turkish Airlines, with moving to new Istanbul Airport from the scrapped Ataturk Airport while Pegasus has remained at its main hub, Sabiha Gokcen Airport, on the Anatolian side of Istanbul. Istanbul’s new
80 TURKEY Country Report September 2019 www.intellinews.com