TAV Airports reported revenue of TL 45.1 billion and a profit for the period of TL 870.7 million in the first half of 2026. The company had posted a loss last year.

TAV Airports Holding Inc. and its subsidiaries announced their consolidated financial results for the January 1–June 30, 2026 period, reviewed as part of a limited independent audit, on July 28, 2026. The company’s first-half revenue increased by approximately 33 percent compared with the same period last year, reaching TL 45 billion 144 million, while the group recorded a profit for the period of TL 870 million 651 thousand.

TAV Airports had reported revenue of TL 33 billion 958 million and a loss for the period of TL 1 billion 686 million in the first six months of 2025. The company therefore increased its revenue and moved from a loss position to profitability in the first half of 2026.

Revenue Rose to TL 45.1 Billion

TAV Airports’ consolidated revenue increased by 32.9 percent in the first half of 2026 compared with the same period last year, reaching TL 45 billion 144 million.

The company’s cost of sales amounted to TL 29 billion 993 million, while gross profit increased by 22.7 percent to TL 15 billion 151 million. Gross profit stood at TL 12 billion 344 million in the same period of 2025.

TAV’s operating profit also increased by 22.7 percent, rising from TL 6 billion 489 million to TL 7 billion 964 million.

TAV Airports Swings from Loss to Profit

The company’s operating profit before finance expenses was recorded at TL 6 billion 766 million. Finance expenses amounted to TL 5 billion 430 million.

TAV Airports’ profit before tax increased from TL 232 million in the same period last year to TL 1 billion 646 million. Following tax expenses, the company recorded a profit for the period from continuing operations of TL 884 million 806 thousand.

After discontinued operations, consolidated profit for the period amounted to TL 870 million 651 thousand. Of this amount, TL 528 million 152 thousand was attributable to equity holders of the parent, while TL 342 million 499 thousand was attributable to non-controlling interests.

The company had reported a loss attributable to equity holders of the parent of TL 1 billion 930 million in the first half of 2025.

Strong Profit in the Second Quarter

TAV Airports’ revenue for the April 1–June 30, 2026 period increased by 36.9 percent compared with the same quarter last year, reaching TL 26 billion 749 million.

The company recorded a profit for the period of TL 3 billion 759 million in the second quarter of 2026. A loss of TL 13 million 346 thousand had been recorded in the same quarter last year.

Operating profit in the second quarter also increased by 40.9 percent to TL 6 billion 101 million.

Total Assets Reached TL 265.8 Billion

TAV Airports’ total assets increased by 5.4 percent compared with December 31, 2025, reaching TL 265 billion 832 million. The company’s equity increased from TL 80 billion 929 million to TL 82 billion 650 million.

Cash and cash equivalents at the end of the period were reported at TL 16 billion 330 million. This amount stood at TL 24 billion 2 million at the end of 2025.

The company’s current liabilities were recorded at TL 54 billion 67 million, while its non-current liabilities amounted to TL 129 billion 114 million.

TL 1.3 Billion Cash Flow from Operating Activities

TAV Airports generated TL 1 billion 307 million in cash flow from operating activities in the first half of 2026. Net cash outflow from investing activities amounted to TL 3 billion 380 million, while net cash outflow from financing activities was TL 6 billion 547 million.

Cash outflows of TL 4 billion 324 million were recorded for purchases of property, plant and equipment, while TL 221.6 million was spent on purchases of intangible assets.

The company’s cash and cash equivalents at the end of the period decreased by TL 7 billion 673 million, also reflecting the impact of foreign currency translation differences.

Seasonal Impact Expected in the Second Half

The financial report stated that revenue and operating profit are generally expected to be higher in the second half of the year due to seasonality in airport operations.

It was noted that the increase in passenger traffic during the June–August period affects the company’s peak-season sales and operating results.

As of June 30, 2026, TAV Airports employed 24,163 people at its subsidiaries and 13,026 people at its joint ventures.

Deloitte Türkiye, which reviewed the company’s interim financial statements, stated that its limited review had not identified any matter indicating that the statements had not been prepared in accordance with IAS 34 Interim Financial Reporting.

Key Financial Indicators