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Fraport AG to Operate Bourgas and Varna Airports in Bulgaria |
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Concession Runs for More Than 35 Years
The Bulgarian government, under an international bidding process, has awarded Fraport AG the concession for modernizing, expanding, and operating Bourgas (BOJ) and Varna (VAR) airports – gateways to the popular Black Sea tourist region. The concession agreement, which is expected to be completed within the next few months, will run for more than 35 years and will include an option for both sides to extend the contract. The planned investment volume over the entire concession period will reach €403 million for building new terminal facilities, expanding apron areas, and acquiring airport vehicles and equipment, etc.
Fraport, as lead partner (60 percent share) in the consortium with BM Star of Bulgaria, will take over complete operations and master planning for both airports, as well as development of modern passenger terminals. Bourgas and Varna airports each welcomed about 1.6 million passengers in 2005 – mainly travelers from Germany, Great Britain, and Scandinavia. This represented 17.5 percent growth for VAR and 14.2 percent for BOJ, versus 2004. Above all, BOJ and VAR serve as international gateways to the popular tourism resorts along the Black Sea coast, such as Golden Sands and Sunny Beach.
Source: Press Release
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