FAV\u00d6K marj\u0131 70 baz puan art\u0131\u015fla y\u00fczde 34,3\u2019e \u00e7\u0131karken, \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrekte FAV\u00d6K b\u00fcy\u00fcmesi y\u00fczde 11,4\u2019e h\u0131zland\u0131 ve \u00e7eyreklik FAV\u00d6K marj\u0131 253 baz puan iyile\u015ferek y\u00fczde 43,3 oldu. Ana ortakl\u0131k net k\u00e2r\u0131 da 75 milyon avrodan 173 milyon avroya y\u00fckseldi. \u015eirket, 2026 y\u0131l\u0131 beklentilerini temmuz ay\u0131nda yapt\u0131\u011f\u0131 revizyon do\u011frultusunda korudu.<\/p>\n
Net k\u00e2rdaki art\u0131\u015f\u0131n \u00f6nemli b\u00f6l\u00fcm\u00fcn\u00fc operasyonel performans\u0131n yan\u0131 s\u0131ra finansal kalemlerdeki iyile\u015fmeler olu\u015fturdu. Kur fark\u0131 zarar\u0131n\u0131n 41 milyon avrodan 1 milyon avroya gerilemesi, ertelenmi\u015f vergi kaleminin 32 milyon avro giderden 32 milyon avro gelire d\u00f6n\u00fc\u015fmesi ve \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen yat\u0131r\u0131mlardan kaynaklanan zarar\u0131n 37 milyon avrodan 10 milyon avroya d\u00fc\u015fmesi toplamda yakla\u015f\u0131k 130 milyon avroluk katk\u0131 sa\u011flad\u0131. Buna kar\u015f\u0131l\u0131k net faiz giderindeki 42 milyon avroluk ve cari vergi giderindeki 29 milyon avroluk art\u0131\u015f bu katk\u0131n\u0131n bir b\u00f6l\u00fcm\u00fcn\u00fc dengeledi. Y\u00f6netim, finansal tablodaki iyile\u015fmede T\u00fcrk liras\u0131ndaki de\u011fer kayb\u0131n\u0131n yava\u015flamas\u0131 ve Kazakistan tengesinin g\u00fc\u00e7lenmesinin etkili oldu\u011funu belirtti. Ayr\u0131ca 2025 y\u0131l\u0131n\u0131n ilk dokuz ayl\u0131k d\u00f6nemindeki net k\u00e2r\u0131n yakla\u015f\u0131k 103 milyon avroluk nakit d\u0131\u015f\u0131 tek seferlik kalem nedeniyle bask\u0131land\u0131\u011f\u0131 ifade edildi.<\/p>\n
Ahlatc\u0131 Yat\u0131r\u0131m, operasyonel sonu\u00e7lar\u0131 olumlu de\u011ferlendirirken net k\u00e2rdaki y\u00fckseli\u015fin kalitesine ili\u015fkin temkinli bir g\u00f6r\u00fcn\u00fcm ortaya koydu. \u00d6zellikle \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrekte FAV\u00d6K b\u00fcy\u00fcmesinin h\u0131zlanmas\u0131 ve serbest nakit ak\u0131\u015f\u0131n\u0131n y\u00fczde 17 art\u0131\u015fla 214 milyon avroya ula\u015fmas\u0131 \u00f6ne \u00e7\u0131kt\u0131. Bununla birlikte, b\u00fcy\u00fcmenin havalimanlar\u0131ndan ziyade servis \u015firketlerinden kaynaklanmas\u0131 ve finansman giderlerindeki y\u00fckseli\u015f dikkat \u00e7ekti. Analizde, \u015firketin g\u00fcmr\u00fcks\u00fcz sat\u0131\u015f gelirleri ile Almat\u0131 Havaliman\u0131 tarifelerinde ilave art\u0131\u015f alan\u0131n\u0131n s\u0131n\u0131rl\u0131 oldu\u011funu kabul etmesinin de b\u00fcy\u00fcme g\u00f6r\u00fcn\u00fcm\u00fc a\u00e7\u0131s\u0131ndan izlenmesi gereken unsurlar aras\u0131nda yer ald\u0131\u011f\u0131 belirtildi.<\/p>\n
\u015eirketin net faiz gideri, 2026 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda y\u00fczde 68 artarak 62 milyon avrodan 104 milyon avroya y\u00fckseldi. \u00dc\u00e7\u00fcnc\u00fc \u00e7eyrekte ise net faiz gideri 26 milyon avrodan 47 milyon avroya \u00e7\u0131kt\u0131. Faiz gelirleri 41 milyon avrodan 23 milyon avroya gerilerken, finansal bor\u00e7lara ili\u015fkin faiz giderleri 103 milyon avrodan 127 milyon avroya y\u00fckseldi. D\u00f6nem i\u00e7erisinde 826 milyon avro yeni bor\u00e7lanma ger\u00e7ekle\u015ftirilirken 422 milyon avro geri \u00f6deme yap\u0131ld\u0131. Analizde, y\u00fckselen faiz giderlerinin 2027 y\u0131l\u0131 k\u00e2r tahminleri a\u00e7\u0131s\u0131ndan a\u015fa\u011f\u0131 y\u00f6nl\u00fc risk olu\u015fturmaya devam etti\u011fi vurguland\u0131.<\/p>\n
Faaliyet giderlerinde ise daha olumlu bir tablo ortaya \u00e7\u0131kt\u0131. Nakit faaliyet giderleri y\u00fczde 4 art\u0131\u015fla 959 milyon avroya ula\u015farak has\u0131lat b\u00fcy\u00fcmesinin alt\u0131nda kald\u0131. Ortalama \u00e7al\u0131\u015fan say\u0131s\u0131ndaki y\u00fczde 5\u2019lik art\u0131\u015f ve T\u00fcrk liras\u0131 enflasyonuna ba\u011fl\u0131 \u00fccret art\u0131\u015flar\u0131 nedeniyle personel giderleri y\u00fczde 17 y\u00fckseldi. Buna kar\u015f\u0131l\u0131k yak\u0131t maliyetleri y\u00fczde 10, TAV Teknoloji\u2019nin Katar projesinin tamamlanmas\u0131yla hizmet maliyetleri y\u00fczde 5 geriledi. May\u0131s 2025\u2019te ba\u015flayan yeni Ankara Havaliman\u0131 imtiyaz\u0131n\u0131n etkisiyle amortisman giderleri ise y\u00fczde 12 artt\u0131.<\/p>\n
Havaliman\u0131 i\u015fletmelerinin FAV\u00d6K\u2019\u00fc y\u00fczde 1 art\u0131\u015fla 339 milyon avroya ula\u015f\u0131rken, T\u00fcrkiye\u2019deki havalimanlar\u0131nda y\u00fczde 9 b\u00fcy\u00fcme, yurt d\u0131\u015f\u0131ndaki havalimanlar\u0131nda ise y\u00fczde 3 d\u00fc\u015f\u00fc\u015f kaydedildi. Servis \u015firketlerinin FAV\u00d6K\u2019\u00fc y\u00fczde 24 art\u0131\u015fla 163 milyon avroya y\u00fckseldi. Y\u00f6netim, havalimanlar\u0131 ile servis \u015firketleri aras\u0131ndaki performans fark\u0131n\u0131 grubun \u00f6nemli FAV\u00d6K kaynaklar\u0131 aras\u0131nda bulunan G\u00fcrcistan ve Almat\u0131\u2019daki ge\u00e7ici etkilerle a\u00e7\u0131klad\u0131. Mevcut varsay\u0131mlar do\u011frultusunda bu ayr\u0131\u015fman\u0131n 2027 y\u0131l\u0131nda devam etmesinin beklenmedi\u011fi bildirildi.<\/p>\n
Ankara Havaliman\u0131, portf\u00f6ydeki en g\u00fc\u00e7l\u00fc performans\u0131 g\u00f6steren varl\u0131k oldu. Yeni imtiyaz kapsam\u0131nda daha y\u00fcksek yolcu \u00fccretleri uygulan\u0131rken \u00f6nceki yap\u0131daki garanti yolcu mekanizmas\u0131 kald\u0131r\u0131ld\u0131. Ankara\u2019n\u0131n has\u0131lat\u0131 y\u00fczde 22, toplam yolcu trafi\u011fi y\u00fczde 9 ve d\u0131\u015f hat yolcu trafi\u011fi y\u00fczde 13 artt\u0131. Y\u00f6netim, AJet ve Pegasus\u2019un b\u00fcy\u00fcme stratejilerinin \u00f6n\u00fcm\u00fczdeki y\u0131llarda Ankara\u2019daki trafik art\u0131\u015f\u0131n\u0131 desteklemesini bekliyor.<\/p>\n
G\u00fcrcistan\u2019daki havalimanlar\u0131, mart-haziran d\u00f6neminde Orta Do\u011fu kaynakl\u0131 hava sahas\u0131 kapanmalar\u0131ndan etkilendi. Haziran ay\u0131ndan itibaren toparlanma g\u00f6r\u00fclmesine ra\u011fmen dokuz ayl\u0131k d\u00f6nemde yolcu trafi\u011fi y\u00fczde 3, has\u0131lat ise y\u00fczde 1 artt\u0131. Kuzey Makedonya\u2019da \u00fcslenen filonun A320\u2019den A321\u2019e ge\u00e7mesiyle trafik y\u00fczde 29, has\u0131lat y\u00fczde 15 y\u00fckseldi. Yer hizmetleri gelirleri de y\u00fczde 11 art\u0131\u015f g\u00f6sterdi. Hava\u015f ise Orta Do\u011fu trafi\u011findeki kay\u0131plar\u0131 yeni m\u00fc\u015fterilerle telafi etti.<\/p>\n
Almat\u0131 Havaliman\u0131\u2019n\u0131n has\u0131lat\u0131 dokuz ayl\u0131k d\u00f6nemde y\u00fczde 2 artarak 371 milyon avroya ula\u015ft\u0131. Ancak \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrekte yak\u0131t sat\u0131\u015flar\u0131ndaki d\u00fc\u015f\u00fc\u015f nedeniyle has\u0131lat y\u00fczde 11 geriledi. \u015eirket, yak\u0131t sat\u0131\u015flar\u0131na dayal\u0131 gelir yap\u0131s\u0131ndan havac\u0131l\u0131k gelirlerinin daha fazla a\u011f\u0131rl\u0131k ta\u015f\u0131d\u0131\u011f\u0131 bir modele ge\u00e7i\u015f yap\u0131yor. Almat\u0131\u2019da d\u0131\u015f hat yolcu \u00fccreti, havaliman\u0131n\u0131n devral\u0131nd\u0131\u011f\u0131 d\u00f6nemde yakla\u015f\u0131k 7 dolar seviyesindeyken kademeli art\u0131\u015flarla y\u0131lba\u015f\u0131ndan itibaren ortalama 17 dolara ula\u015ft\u0131. A\u011fustos ay\u0131nda yap\u0131lan ilave tarife art\u0131\u015f\u0131n\u0131n etkisinin d\u00f6rd\u00fcnc\u00fc \u00e7eyrekten itibaren g\u00f6r\u00fclmesi ve yak\u0131t sat\u0131\u015flar\u0131ndaki kayb\u0131 kademeli olarak dengelemesi bekleniyor. Bununla birlikte y\u00f6netim, tarifelerin portf\u00f6ydeki di\u011fer havalimanlar\u0131n\u0131n seviyesine ula\u015ft\u0131\u011f\u0131n\u0131 ve yeni art\u0131\u015f alan\u0131n\u0131n s\u0131n\u0131rl\u0131 oldu\u011funu belirtti.<\/p>\n
Almat\u0131\u2019da toplam yolcu trafi\u011fi y\u00fczde 4 artarken d\u0131\u015f hat trafi\u011fi \u00c7in, Tayland ve Vietnam kaynakl\u0131 talebin etkisiyle y\u00fczde 11 y\u00fckseldi. Pratt & Whitney motor sorunlar\u0131ndan etkilenen u\u00e7aklar nedeniyle i\u00e7 hat trafi\u011fi y\u00fczde 2 geriledi. Y\u00f6netim, s\u00f6z konusu u\u00e7aklar\u0131n filoya 2027 y\u0131l\u0131nda kademeli olarak, a\u011f\u0131rl\u0131kl\u0131 bi\u00e7imde ise 2028 y\u0131l\u0131nda d\u00f6nece\u011fini bildirdi. Almat\u0131\u2019daki y\u00fczde 15\u2019lik az\u0131nl\u0131k pay\u0131n\u0131n sat\u0131n al\u0131nmas\u0131na y\u00f6nelik sat\u0131m opsiyonu temmuz ay\u0131nda kullan\u0131ld\u0131. 133 milyon dolar kar\u015f\u0131l\u0131\u011f\u0131ndaki i\u015flemin tamamlanmas\u0131yla TAV Havalimanlar\u0131\u2019n\u0131n \u015firketteki pay\u0131n\u0131n y\u00fczde 100\u2019e \u00e7\u0131kmas\u0131 bekleniyor. Almat\u0131\u2019n\u0131n net borcu haziran sonundaki 282 milyon avrodan eyl\u00fcl sonunda 342 milyon avroya y\u00fckseldi.<\/p>\n
Antalya Havaliman\u0131\u2019nda toplam yolcu trafi\u011fi y\u00fczde 3 d\u00fc\u015ferken d\u0131\u015f hat yolcu say\u0131s\u0131 26 milyon seviyesinden 24,6 milyona gerileyerek y\u00fczde 5,5 azald\u0131. \u0130\u00e7 hat trafi\u011findeki y\u00fczde 8\u2019lik art\u0131\u015f toplam d\u00fc\u015f\u00fc\u015f\u00fc k\u0131smen s\u0131n\u0131rlad\u0131. Y\u00f6netim, d\u0131\u015f hat trafi\u011findeki zay\u0131fl\u0131\u011f\u0131 otel ve paket tur fiyatlar\u0131n\u0131n rekabet g\u00fcc\u00fcne, dolay\u0131s\u0131yla T\u00fcrkiye\u2019de enflasyon ile d\u00f6viz kuru aras\u0131ndaki farka ba\u011flad\u0131. 2027 sezonunda otel i\u015fletmecilerinin marjlar\u0131ndan ne \u00f6l\u00e7\u00fcde feragat edece\u011finin belirleyici olaca\u011f\u0131 de\u011ferlendirilirken, enflasyon ile kur aras\u0131ndaki fark\u0131n \u00f6n\u00fcm\u00fczdeki iki-\u00fc\u00e7 y\u0131lda kapanmas\u0131yla T\u00fcrkiye turizminde b\u00fcy\u00fcmenin yeniden h\u0131zlanmas\u0131 bekleniyor.<\/p>\n
G\u00fcmr\u00fcks\u00fcz sat\u0131\u015flarda yolcu ba\u015f\u0131na harcama y\u00fczde 21 artarak 8,3 avrodan 10 avroya y\u00fckseldi. Bu art\u0131\u015fta Antalya\u2019daki yeni ticari alanlar\u0131n ilk kez tam y\u0131l katk\u0131 sa\u011flamas\u0131 etkili oldu. Ancak y\u00f6netim, yolcu ba\u015f\u0131na 10 avroluk harcama d\u00fczeyini bir plato olarak g\u00f6rd\u00fc\u011f\u00fcn\u00fc ve \u00f6n\u00fcm\u00fczdeki birka\u00e7 y\u0131lda g\u00fcmr\u00fcks\u00fcz sat\u0131\u015f gelirlerindeki art\u0131\u015f\u0131n a\u011f\u0131rl\u0131kl\u0131 olarak yolcu trafi\u011finden kaynaklanmas\u0131n\u0131 bekledi\u011fini belirtti. Yiyecek-i\u00e7ecek taraf\u0131nda yolcu ba\u015f\u0131na harcama y\u00fczde 11 art\u0131\u015fla 2,1 avroya ula\u015f\u0131rken ikram gelirleri y\u00fczde 19 y\u00fckseldi. BTA\u2019n\u0131n y\u0131l sonunda Antalya\u2019daki eski binalarda bulunan alanlar\u0131 da devralmas\u0131, 2027 y\u0131l\u0131nda s\u0131n\u0131rl\u0131 ek iyile\u015fme sa\u011flayabilecek unsurlar aras\u0131nda g\u00f6sterildi.<\/p>\n
TAV Havalimanlar\u0131, 2026 y\u0131l\u0131 i\u00e7in toplam yolcu say\u0131s\u0131 beklentisini 112-118 milyon, d\u0131\u015f hat yolcu say\u0131s\u0131 beklentisini 72-77 milyon aral\u0131\u011f\u0131nda korudu. \u015eirketin has\u0131lat beklentisi 1 milyar 880 milyon-1 milyar 980 milyon avro, FAV\u00d6K beklentisi 580-630 milyon avro olarak a\u00e7\u0131klan\u0131rken yat\u0131r\u0131m harcamalar\u0131n\u0131n 300 milyon avronun alt\u0131nda kalmas\u0131 \u00f6ng\u00f6r\u00fcld\u00fc. Y\u00f6netim, yolcu beklentisinin d\u00fc\u015f\u00fcr\u00fclmesine kar\u015f\u0131n has\u0131lat beklentisinin korunmas\u0131n\u0131 ikinci \u00e7eyrekteki y\u00fcksek yak\u0131t sat\u0131\u015f fiyatlar\u0131yla a\u00e7\u0131klad\u0131.<\/p>\n
Mevcut beklentiler, d\u00f6rd\u00fcnc\u00fc \u00e7eyrekte 419-519 milyon avro has\u0131lat ve 78-128 milyon avro FAV\u00d6K aral\u0131\u011f\u0131na i\u015faret ediyor. 2025 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6neminde has\u0131lat 433 milyon avro, FAV\u00d6K ise 93 milyon avro seviyesindeydi. Beklentilerin orta noktas\u0131, d\u00f6rd\u00fcnc\u00fc \u00e7eyrekte FAV\u00d6K\u2019\u00fcn yakla\u015f\u0131k y\u00fczde 11 artmas\u0131n\u0131 gerektiriyor. Bu oran, \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrekteki b\u00fcy\u00fcme h\u0131z\u0131yla uyumlu bir g\u00f6r\u00fcn\u00fcm sunuyor. Almat\u0131\u2019daki tarife art\u0131\u015f\u0131n\u0131n yak\u0131t sat\u0131\u015flar\u0131ndaki kayb\u0131 dengelemesi de bu beklentiyi destekleyen unsurlar aras\u0131nda yer al\u0131yor.<\/p>\n
\u015eirketin dokuz ayl\u0131k yat\u0131r\u0131m harcamalar\u0131 141 milyon avroya ula\u015farak y\u0131ll\u0131k beklenti \u00fcst s\u0131n\u0131r\u0131n\u0131n yakla\u015f\u0131k y\u00fczde 47\u2019sinde kald\u0131. Y\u0131l sonu \u00fcst s\u0131n\u0131r\u0131na ula\u015f\u0131lmas\u0131 i\u00e7in d\u00f6rd\u00fcnc\u00fc \u00e7eyrekte 159 milyon avroluk harcama yap\u0131lmas\u0131 gerekiyor. Bu nedenle yat\u0131r\u0131m harcamalar\u0131n\u0131n y\u0131l sonunda beklenti \u00fcst s\u0131n\u0131r\u0131n\u0131n alt\u0131nda kalmas\u0131 olas\u0131 g\u00f6r\u00fcl\u00fcyor. Y\u00f6netim, G\u00fcrcistan\u2019daki BTC projesi ile Almat\u0131\u2019daki terminal ve hava taraf\u0131 geni\u015fletme \u00e7al\u0131\u015fmalar\u0131n\u0131n 2027\u2019de tamamlanmas\u0131n\u0131n planland\u0131\u011f\u0131n\u0131 ve yeni projeler hari\u00e7 2027 yat\u0131r\u0131m harcamalar\u0131n\u0131n 2026 y\u0131l\u0131na benzer seviyede olaca\u011f\u0131n\u0131 bildirdi.<\/p>\n
TAV Havalimanlar\u0131\u2019n\u0131n net borcu, haziran sonundaki 1 milyar 833 milyon avrodan eyl\u00fcl sonunda 1 milyar 649 milyon avroya geriledi. Bu d\u00fc\u015f\u00fc\u015fte holding seviyesindeki net borcun 497 milyon avrodan 412 milyon avroya inmesi ve yaz sezonunda sa\u011flanan nakit \u00fcretimi etkili oldu. Konsolide net borcun son 12 ayl\u0131k FAV\u00d6K\u2019e oran\u0131 2,8 kat, i\u015f ortakl\u0131klar\u0131 dahil edildi\u011finde ise 3,5 kat olarak hesapland\u0131. \u015eirketin ortalama bor\u00e7 vadesi 5,5 y\u0131l, ortalama bor\u00e7lanma maliyeti y\u00fczde 6,3 olurken kredilerinin y\u00fczde 66\u2019s\u0131 sabit faizli veya faiz takas\u0131yla korunmu\u015f durumda.<\/p>\n
Net bor\u00e7 rakam\u0131, Almat\u0131\u2019daki az\u0131nl\u0131k pay\u0131na ili\u015fkin 117 milyon avroluk sat\u0131m opsiyonu y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn\u00fc ve \u015firkete r\u00fccu edilemeyen 246 milyon avroluk Tunus borcunu da i\u00e7eriyor. Y\u00f6netim, Aral\u0131k 2028 vadeli 400 milyon dolarl\u0131k Eurobond i\u00e7in se\u00e7eneklerin de\u011ferlendirildi\u011fini, erken itfa priminin Aral\u0131k 2026\u2019dan sonra kademeli olarak d\u00fc\u015fece\u011fini bildirdi. Y\u00fczde 8,5 dolar kuponlu tahvilin avroya y\u00fczde 6,87 maliyetle swapland\u0131\u011f\u0131 belirtilirken, erken itfa veya yeniden finansman se\u00e7eneklerinin 2027 y\u0131l\u0131nda g\u00fcndeme gelebilece\u011fi de\u011ferlendirildi.<\/p>\n
\u015eirketin b\u00fcy\u00fcme f\u0131rsatlar\u0131 aras\u0131nda Kuveyt Havaliman\u0131 Terminal 2\u2019nin 10 y\u0131ll\u0131k i\u015fletme ve bak\u0131m ihalesi \u00f6ne \u00e7\u0131kt\u0131. Y\u00f6netim, yakla\u015f\u0131k 700 bin metrekarelik terminalin ihalesinde son a\u015famaya gelindi\u011fini, iki aday\u0131n kald\u0131\u011f\u0131n\u0131 ve ikinci tur tekliflerin verildi\u011fini a\u00e7\u0131klad\u0131. TAV Havalimanlar\u0131, ihaleye Limak ile kurdu\u011fu konsorsiyum arac\u0131l\u0131\u011f\u0131yla kat\u0131l\u0131yor ve konsorsiyumda y\u00fczde 60 pay ta\u015f\u0131yor. S\u00f6zle\u015fmenin olas\u0131 has\u0131lat ve FAV\u00d6K katk\u0131s\u0131na ili\u015fkin hen\u00fcz bilgi payla\u015f\u0131lmad\u0131.<\/p>\n
M\u0131s\u0131r\u2019da Hurghada Havaliman\u0131 ihalesinde \u00f6n yeterlilik al\u0131nd\u0131\u011f\u0131, \u015earm El-\u015eeyh Havaliman\u0131\u2019n\u0131n da ihaleye \u00e7\u0131kar\u0131lmas\u0131n\u0131n beklendi\u011fi belirtildi. Karada\u011f\u2019da ise daha \u00f6nce se\u00e7ilen Incheon\u2019un taahh\u00fctlerini yerine getirmeden s\u00fcre\u00e7ten \u00e7ekilmesinin ard\u0131ndan \u00f6n\u00fcm\u00fczdeki aylarda yeni f\u0131rsatlar\u0131n de\u011ferlendirilebilece\u011fi ifade edildi. Yapt\u0131r\u0131m uygulanan havayolu \u015firketlerine ili\u015fkin sorular \u00fczerine y\u00f6netim, T\u00fcrkiye\u2019deki havalimanlar\u0131nda terminal i\u015fletmecisi olduklar\u0131n\u0131, ini\u015f ve pist kullan\u0131m\u0131na ili\u015fkin kararlar\u0131n yetkili otoritelere ait oldu\u011funu ve yapt\u0131r\u0131m uyumunun hukuk ekipleri taraf\u0131ndan takip edildi\u011fini bildirdi.<\/p>\n
Ahlatc\u0131 Yat\u0131r\u0131m\u2019\u0131n de\u011ferlendirmesinde, 2027 y\u0131l\u0131 finansal sonu\u00e7lar\u0131 a\u00e7\u0131s\u0131ndan Yeni Antalya Havaliman\u0131 imtiyaz\u0131n\u0131n ba\u015flamas\u0131 ve Tiflis\u2019te de\u011fi\u015fecek kira yap\u0131s\u0131 \u00f6nemli ba\u015fl\u0131klar aras\u0131nda g\u00f6sterildi. Mevcut Antalya imtiyaz\u0131 Aral\u0131k 2026\u2019da sona ererken, Aral\u0131k 2051\u2019e kadar s\u00fcrecek yeni imtiyaz i\u00e7in 1 milyar 813 milyon avro pe\u015fin kira \u00f6dendi. Buna ek olarak 2027-2031 d\u00f6neminde y\u0131ll\u0131k 145 milyon avro, 2032-2051 d\u00f6neminde ise y\u0131ll\u0131k 236 milyon avro kira \u00f6demesi yap\u0131lacak. 2027\u2019den itibaren tahakkuk esas\u0131na g\u00f6re y\u0131ll\u0131k 52,2 milyon avro KDV y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc de bulunuyor.<\/p>\n
Yeni Antalya, 2026 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda \u015firket pay\u0131 itibar\u0131yla 38 milyon avro net zarar kaydederken net borcu 1 milyar 304 milyon avro seviyesinde ger\u00e7ekle\u015fti. Bu nedenle \u00f6zkaynak y\u00f6ntemiyle de\u011ferlenen yat\u0131r\u0131mlar kaleminin 2027 y\u0131l\u0131nda yap\u0131sal bir de\u011fi\u015fim g\u00f6stermesi bekleniyor. Tiflis\u2019te imtiyaz\u0131n Aral\u0131k 2031\u2019e uzat\u0131lmas\u0131yla 2027\u2019den itibaren kira hesaplamas\u0131n\u0131n ini\u015f ve yer hizmetleri gelirlerinin y\u00fczde 10\u2019u yerine yolcu \u00fccretlerinin y\u00fczde 30\u2019u \u00fczerinden yap\u0131lmas\u0131 ve buna ek olarak 25 milyon dolar pe\u015fin \u00f6deme ger\u00e7ekle\u015ftirilmesi \u00f6ng\u00f6r\u00fcl\u00fcyor. G\u00fcrcistan\u2019\u0131n 2025 y\u0131l\u0131nda y\u00fczde 78 FAV\u00d6K marj\u0131yla grubun en k\u00e2rl\u0131 varl\u0131\u011f\u0131 olmas\u0131 nedeniyle yeni kira yap\u0131s\u0131n\u0131n marjlar \u00fczerindeki etkisinin izlenmesi gerekiyor.<\/p>\n
Batumi Havaliman\u0131\u2019n\u0131n imtiyaz\u0131 A\u011fustos 2027\u2019de sona ererken uzatmaya ili\u015fkin hen\u00fcz bilgi payla\u015f\u0131lmad\u0131. Ayr\u0131ca TAV Tunus\u2019un kredi s\u00f6zle\u015fmelerine ayk\u0131r\u0131l\u0131k durumu devam ediyor ve 245,5 milyon avroluk bor\u00e7 k\u0131sa vadeli y\u00fck\u00fcml\u00fcl\u00fckler aras\u0131nda s\u0131n\u0131fland\u0131r\u0131l\u0131yor. \u015eirket, kredit\u00f6rlerden borcun muaccel hale getirildi\u011fine ili\u015fkin bir bildirim almad\u0131\u011f\u0131n\u0131 a\u00e7\u0131klad\u0131. Bu geli\u015fmeler, operasyonel b\u00fcy\u00fcmenin yan\u0131 s\u0131ra finansman maliyetleri, imtiyaz s\u00f6zle\u015fmeleri ve bor\u00e7luluk g\u00f6r\u00fcn\u00fcm\u00fcn\u00fcn TAV Havalimanlar\u0131\u2019n\u0131n \u00f6n\u00fcm\u00fczdeki d\u00f6nem performans\u0131 a\u00e7\u0131s\u0131ndan yak\u0131ndan takip edilmesi gerekti\u011fine i\u015faret ediyor.<\/p>\n
<\/strong> \u0130stanbul, 23 Ekim (Hibya)- Ahlatc\u0131 Yat\u0131r\u0131m\u2019\u0131n TAV Havalimanlar\u0131 (TAVHL) analist toplant\u0131s\u0131na ili\u015fkin de\u011ferlendirmesine g\u00f6re, \u015firketin 2026 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda konsolide has\u0131lat\u0131 ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla y\u00fczde 5,1 artarak 1,46 milyar avroya, faiz, amortisman ve vergi \u00f6ncesi k\u00e2r\u0131 (FAV\u00d6K) ise y\u00fczde 7,4 y\u00fckselerek 502 milyon avroya ula\u015ft\u0131. <\/p>\n","protected":false},"author":1,"featured_media":172192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow07ekDA:productID":"","footnotes":""},"categories":[4,1,9],"tags":[],"class_list":["post-172191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dunya","category-ekonomi","category-manset"],"_links":{"self":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/172191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/comments?post=172191"}],"version-history":[{"count":0,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/posts\/172191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media\/172192"}],"wp:attachment":[{"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/media?parent=172191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/categories?post=172191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekonomigundemi.com.tr\/index.php\/wp-json\/wp\/v2\/tags?post=172191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nEKONOM\u0130 GAZETES\u0130 <\/p>\n","protected":false},"excerpt":{"rendered":"