EUROPE: ISTANBUL NEW AIRPORT
Istanbul countdown is on as Heinemann prepares to enter new retail dimension
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One of the biggest events in Turkish – and global – aviation history plays out this month when Istanbul New Airport opens its doors to the world. As Luke Barras-Hill discovers, Gebr. Heinemann is ready to make a giant impression.
90m. Upon completion, the new airport will increase its capacity to an eye-watering 200m per annum. Aside the nearly 100 airlines
poised to deliver a route network to more than 300 destinations; steely commercial gains are expected as İGA negotiates with world-class global and local retail partners. Unifree Duty Free, in which
The eyes of the aviation world will be on Istanbul New Airport when it opens in October. Source: IGA Istanbul
T
he monolithic Istanbul New Airport is set to unveil on 29 October with Turkish Airlines
making its first passenger flight to Ankara on 31 October. Operator İGA Havalimani İsletmesi
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(İGA), a joint venture consortium comprising Turkish companies (Cengiz, MAPA, Limak, Kolin, Kalyon Group companies), won a 25-year build-operate-transfer (BOT) bid to construct and manage Istanbul New Airport in 2013. IGA announced shortly before
press time that the airport, which is located 35km north of Istanbul over an area of 76.5m square metres, is ‘94% complete’. “We still believe in the final on-
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time opening of Istanbul New Airport, even though time is really
“Luxury brands will be at the heart of the customer experience, flanked right and left by two impressive main duty free shops.”
Raoul Spanger, Executive Director, Retail & HR, Gebr. Heinemann
78 TRBUSINESS
Manager of İGA Airport Operations says the airport will deliver added value to the Turkish economy, chiefly through direct and indirect employment opportunities for 225,000 people by 2025. This in turn hopes to generate a
contribution to Turkey’s economy akin to up to 4.9% of national income. As previously reported, the airport
replaces existing operations at Istanbul Atatürk, which is officially scheduled to close at midnight on 31 October. The airport is being built in four
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construction phases. Phase one will yield three runways and a passenger terminal, with the capacity to handle
investors – who each hold a 20% share – moved to increase the company’s capital by TRY1.790bn ($277m) to total TRY6.240bn ($967m). Kadri Samsunlu, CEO and General
pressing,” comments Raoul Spanger, Executive Director, Retail & HR, Gebr. Heinemann. Unsurprisingly, the stakes are high
for all stakeholders involved in the estimated €10.3bn project, not least İGA, which reportedly paid €26bn ($28.6bn) to the state including VAT. In the summer, İGA’s Turkish
Heinemann is a majority shareholder (60.8%), snared the 25-year duty free contract in 2015 and will preside over a gargantuan 53,000sq m of airside commercial space. This is expected to showcase
more than 400 domestic and foreign brands.
Huge investment for Unifree Heinemann itself has committed around €100m towards the project, as it takes on master concessionaire (excluding F&B) and tenancy responsibilities. “It’s a big investment for us, but
even more for our partner Unifree,” says Spanger, who declined to comment on Unifree’s investment. “From our side, the capital
will of course be invested into the retail space and into the shops primarily and we will make further investments.” At its traditional press conference
earlier this year attended by TRBusiness, Heinemann Co-owner Claus Heinemann drew attention to reviving passenger traffic to Turkey, including through flag carrier Turkish Airlines, and pointed towards the return of Russian travellers. All of this bodes well for the future
commercial operations. N. Mert Başar, Chief Commercial
Officer of İGA Airport Operations says the airport will act as a platform for Turkish ‘hero brands’, aside more international labels. As first reported by TRBusiness in February, a ‘Bosphorus’ area
OCTOBER 2018
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