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November 2, 2018 www.intellinews.com I Page 5
any loan refinancing offers for the $5bn loan it took out from local lenders to build the first phase of the airport.
World’s largest terminal space
The airport includes the world’s largest terminal space. Spread out over more than 1.3mn square meters, it is the result of a project headed by London-based Grimshaw Global. The terminal will have 228 passport control counters, with 10,000 sqm devoted to retail, 32,000 sqm to food and drink and 55,000 sqm to duty free.
Ataturk was Europe’s fifth largest airport
by traffic in 2017, following London, Paris, Amsterdam and Frankfurt. It processed 63.7mn passengers in the year, compared with London
Heathrow’s 78mn.
Only a handful of flights will be operating daily from the new airport until the end of the year.
Turkey is enjoying a tourism recovery following
a slump caused by factors including a series
of terrorist attacks and the state of emergency introduced after the failed July 2016 coup. That’s good news for Istanbul Airport’s immediate prospects but it will also count on the transit business—passengers using it as a “superhub” for Asia, Africa and Europe but not stopping
in Istanbul—to provide substantial business volume, helped by the fact that flag carrier Turkish Airlines flies to more global destinations than any other airline.
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