Under a new agreement signed with the Georgian government, TAV Airports has extended the operating concession of Tbilisi International Airport until 31 December 2031. The concession, which was previously set to expire in January 2027, has been extended by a further five years, accompanied by a commitment to invest USD 150 million in the airport.
USD 150 Million Investment in the 2026–2027 Period
Investments planned under the new concession period are scheduled to be completed between 2026 and 2027. Within this scope, Tbilisi Airport’s passenger capacity will be increased to over 10 million.
As part of the investment programme:
- An additional 19,500 m² of terminal space will be constructed (current area: 37,500 m²),
- The number of passenger boarding bridges will be doubled with the addition of 5 new bridges,
- 2 new baggage conveyor belts will be added,
- 7 new aircraft parking stands will be created,
- 10 check-in counters and 24 passport control booths will be brought into service,
- An additional parking capacity for 500 vehicles will be provided,
- Private passenger lounges, duty-free, food and beverage areas, and social spaces will be expanded,
Comprehensive improvements will also be carried out in the existing terminal areas.
Passenger-Focused Model in Rent and Revenue Structure
While no changes have been made to the fee and revenue structure in the new concession period, a significant update has been introduced to the rent model. Accordingly:
- 30% of passenger charges will be paid as rent during the new concession period starting in 2027,
- The previous rent practice of 10% of landing and ground handling revenues has been abolished,
In addition, an upfront payment of USD 25 million will be made; this amount will not be offset against future accrued rent payments.
No Interruption Expected in Dividend Flow
TAV Airports stated that the extension of the concession period is not expected to cause any interruption in the dividend flow generated from Tbilisi to the holding structure.
A Rapidly Growing Regional Aviation Hub
Today, Tbilisi Airport serves 60 airlines and 66 destinations, positioning itself as a regional gateway.
In the 2006–2024 period:
- The compound annual growth rate (CAGR) in passenger numbers was 12.5%,
- The CAGR in EBITDA was 21.1%.
Success Crowned with International Awards
Within the scope of the Skytrax 2025 Awards, Tbilisi Airport was recognised in the following categories:
- “Best Airports under 5 Million Passengers”,
- “Best Airports in Eastern Europe”.
In addition, the ASQ (Airport Service Quality) score for the third quarter of 2025 was recorded at 4.76/5.00.
With this new investment initiative in Tbilisi, TAV Airports aims to continue its growth in regional aviation while further strengthening its long-term and sustainable value creation strategy.
