Airport
According to Bloomberg, the operator of Istanbul’s new $11 billion airport, formally known as IGA Havalimani Isletmeleri AS, is embarking on a global expansion strategy targeting markets including Pakistan, North America, and the Middle East.
Mehmet Kalyoncu, a director on the board of the airport operator, revealed that shareholders are actively seeking local partnerships to pursue ventures in the United States.
Kalyoncu expressed the company’s interest in participating in large-scale airport projects planned in the Middle East, emphasizing the aim to diversify and broaden their operations on an international scale.
The ambition is to replicate the success achieved with Istanbul’s airport project in other regions.
In an interview conducted in London, Kalyoncu, who represents the privately-held construction conglomerate Kalyon Holdings, outlined the company’s aspirations.
He highlighted projects such as the modernization of New York’s John F. Kennedy and Los Angeles Airport as particularly appealing due to their complexity and scale, akin to the construction of IGA.
Situated 20 miles outside Istanbul on the Black Sea, IGA currently boasts three operational runways.
Spanning an area larger than Manhattan, the airport is poised to serve as a major aviation hub, with plans to accommodate up to 200 million passengers and feature six runways.
While Kalyon Holdings will lead some international projects, Kalyoncu expressed intentions to involve project partner Cengiz Insaat AS in other overseas endeavors.
Funding for these initiatives will be tailored to each project based on concession agreements and specific requirements.
The company aims to solidify its international expansion plans within the next 1-2 years, underscoring its commitment to diversifying and strengthening its global footprint in the aviation industry.
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