TAV Airports loss widens despite higher passenger traffic

TAV Airports, which is listed on Borsa Istanbul, said its net loss widened in the first quarter of 2026 amid global economic and geopolitical uncertainty, despite a rise in passenger traffic.

The loss deepened 28 percent year on year to €59 million ($69 million) in the quarter ended March 31, due to higher depreciation and amortisation, as well as a rise in tax expense due to TAV Georgia’s deferred dividend payments from 2025.

Revenue fell 5 percent annually to €361 million partly due to weakness in the US dollar against the euro, the Turkish airport operator said in a statement.

The number of passengers served in the first quarter rose 7 percent from a year earlier to 19 million, with Georgia traffic impacted by the Middle East conflict. 

International passenger volumes across the network rose 7 percent to 10.4 million, with domestic numbers jumping 8 percent to 8.6 million.

Middle Eastern traffic was affected by geopolitical developments that began in June 2025 and accelerated at the end of February 2026.

Shareholders approved a dividend distribution of 1.3 billion lira ($29 million) for 2025, CEO Serkan Kaptan said in a statement.

Istanbul-headquartered TAV Airports has a global presence with service companies in 36 countries and 101 airports.

Further reading:

• Turkish Airlines passenger volume jumps despite war
• Etihad keeps flight prices low despite surging jet fuel
• Full airline operations some way off unless Iran war ends