TAV (Tepe Akfen Vie) Airports Holding declared 111 million Turkish lira (TL) of net profit in 2009. (1 USD = 1.5370 TL)

The holding also announced that its EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was 294 million TL last year.

TAV's net profit increased ten times and reached 111 million TL (51.5 million Euro), and its annual turnover rose 16 percent to 1.2 billion TL in 2009 when compared to 2008.

TAV Airports Holding Corp. Executive Board Chairman Sani Sener said that the number of passengers dropped six percent in Europe and three percent in the world, while the number of passengers --who used the airports operated by TAV-- rose three percent and exceeded 42 million in 2009.

TAV was established in 1997 as a joint venture between Tepe and Akfen Groups following their bid for the Istanbul Ataturk Airport International Terminal Contract. Istanbul Ataturk Airport is one of the first sample of the Airport Operating projects in the world with "build-operate-transfer" model.

TAV has undertaken the construction and operation of three major airports in Turkey (Istanbul Ataturk, Ankara Esenboga and Izmir Adnan Menderes Airports) and the Tbilisi and Batumi Airports in Georgia, Enfida and Monastere Airports in Tunisia.

TAV has over 11,000 employees and 12 companies. TAV Airports serve 285,000 flights by 300 airline companies every year.

AA