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ISG EFFECTS THE INITIAL RENTAL PAYMENT OF ISTANBUL SABIHA GÖKÇEN INTERNATIONAL AIRPORT AMOUNTING A TOTAL OF 76 MILLION 514 THOUSAND 851 EUROS

Marking one of the most important ‘Build – Operate – Transfer’ projects in Turkish aviation history, Istanbul Sabiha Gökçen International Airport Investment, Development and Operation Inc. (ISG) effected its first rental payment to the Undersecretariat of Defense Industries as part of the Contract on Istanbul Sabiha Gökçen International Airport New Terminal Building and Its Complementaries.

Founded in partnership by Limak Holding (LİMAK), GMR Infrastructure (GMR) and Malaysia Airports Holdings Berhad (MAHB), Istanbul Sabiha Gökçen International Airport Investment, Development and Operation Inc. (ISG) actualized its first rental payment under the contract the Company signed with the Undersecretariat of Defense Industries concerning the Contract on the Execution of Istanbul Sabiha Gökçen International Airport New Terminal Building and its Complementaries Project. Taking the floor referring to the 76 million 514 thousand 851 Euro rental payment amount submitted by ISG to the Minister of National Defense, M. Vecdi Gönül, Chairman of the Board of ISG, Nihat Özdemir said: “We are glad to present the initial rental payment amounting a total of 76 million 514 thousand 851 Euros as part of the Contract on the Execution of Istanbul Sabiha Gökçen International Airport New Terminal Building and its Complementaries Project being one of the most important and successful Build – Operate – Transfer models in Turkish aviation history to the Undersecretariat of Defense Industries bound to the Ministry of National Defense.”

Closing last year with a record passenger number of 11.6 million, Sabiha Gökçen Airport effected its first rental payment as part of the Contract on the Execution of the New Terminal Building and its Complementaries Project. In the ceremony organized on the occasion of the rental payment, the symbolic check designed to represent the payment amounting 76 million 514 thousand 851 Euros was presented to the Minister of National Defense, M. Vecdi Gönül by the Chairman of the Board of ISG, Nihat Özdemir.

Chairman of ISG, Nihat Özdemir; Board Member of ISG and Limak Investment, Ebru Özdemir; Board Member of ISG and CEO of GMR Türkiye, Cenk Alpsoy; CEO of ISG, Gökhan Buğday and executive managers of ISG and HEAŞ were present at the ceremony.
Nihat Özdemir: “We adapted ourselves to the cost discipline and fulfilled our promise duly”

Speaking at the rental payment ceremony, Chairman of ISG, Nihat Özdemir said, “This payment which we actualized in addition to our operational success, is of great importance in terms of complying with the cost discipline and fulfilling our commitments. In addition, it once more restores the trust placed in Turkish economy. In the present situation, we are so glad to see the adventure that once started in 2001 turns into a great success story in 2011.”
“İSG has broken the entire routine and become the fastest growing airport in the world”
Underlining that Sabiha Gökçen Airport performed a great rise by attracting the attention of airlines, Özdemir continued: “The number of passengers which used to be 47 thousand in 2001 exceeded the targets as of today breaking the routine. With the uptrend in the number of passengers, Sabiha Gökçen Airport turned out to be world’s fastest growing airport both in 2009 and in 2010. Our consistent uptrend concerning the number of passengers continued its rapid growth last year as well. Sabiha Gökçen Airport where 6.6 million passengers transitioned in 2009, closed the year 2010 with 11.6 million passengers marking a 75 percent increase. In addition to all these figures, we have crowned the steps we took in a short time with numerous awards we received not only nation-wise but also internationally.”

“We are extremely contented to pay our initial rent amounting 76 million 514 thousand 851 Euros”

Chairman of the Board of ISG, Nihat Özdemir expressed their happiness to present the Undersecretariat Defense Industries the symbolic payment of the first rental amount of 76 million 514 thousand 851 Euros as part of the Contract on the Execution of Istanbul Sabiha Gökçen International Airport New Terminal Building and its Complementaries being one of the most important and successful Build – Operate – Transfer models in Turkish aviation history. “When we remember the past of the project, we see that Sabiha Gökçen International Airport commencing to offer services for Turkish civil aviation in 2001 was successfully operated by Airport Operations and Aviation Industries Inc. (HEAŞ) within the body of our Undersecretariat of Defense Industries until 2007,” said Özdemir reminding that ISG, founded in partnership by the triple consortium comprising Limak Holding, GMR Infrastructure and Malaysia Airports Holdings Berhad took over the 20 year operational rights of Istanbul Sabiha Gökçen International Airport for 1 billion 932 million Euros as a result of the privatization tender of the new international terminal building and its complementaries. Özdemir went on, “In this period, by achieving an investment we regard as a milestone, we completed the construction of the terminal building and its complementaries which will contribute to the rapid growth of Istanbul Sabiha Gökçen increasing the annual passenger capacity to 25 million and we put the whole facility into service on October 31, 2009 with the participation of our Prime Minister.”

The objective in 2011 is to render service to 16 million passengers...
Chairman of the Board of ISG, Nihat Özdemir gave the following information regarding the 2010 business results: “Number of domestic passengers in the airport reached 7 million 665 thousand 21 with an increase of 69 percent while the number of international passengers reached 3 million 933 thousand 5 rising by 88 percent. As of today, we have come up with 66 international and 29 domestic points. And the number of airlines that we furnish service has reached 47.” Also mentioning the 2011 targets, Özdemir continued: “By attaching importance to superior service quality, we are aiming to render service to 16 million passengers in our terminal in 2011 and be among the top 100 airports in the world in terms of passenger capacity.’

Info Note:
Founded in partnership by Limak Holding (LİMAK), GMR Infrastructure (GMR) and Malaysia Airports Holdings Berhad (MAHB), ISG took over the operational rights of the terminals in Istanbul Sabiha Gökçen International Airport including the management of car park, ground handling, cargo and aircraft refueling operations as well as the airport hotel and CIP facilities for a period of 20 years on May 1, 2008. Paying 1 billion 932 million Euros for these operational rights, ISG also actualized an investment of 500 million Euros. The new terminal building and its complementaries covering a total area of 320 thousand m2 which will contribute to the rapid growth of Istanbul Sabiha Gökçen and bring its annual passenger capacity to 25 million was built as an environmental friendly construction with a contemporary architecture perception and at international standards. The entire facility was put into service on October 31, 2009.

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