Turkish company TAV Havalimanlari Holding has started talks with Saudi Oger to purchase half of its 33.3% stake in Tibah Airports Development Company, the operator of Madinah International Airport (photo) in Saudi Arabia.
Madinah airport, which had served a record 5.8 million passengers last year, is being operated by Tibah Development since 2012 under a 25 year concession ending in 2037.
Once the share purchase is done successfully upon getting necessary approvals from the stake holders, the TAV stake in Tibah Development will increase to 50%.
A major player in the Middle East region, TAV Airports said one of its subsidiaries TAV Operation Services recently won the tender for the operating rights of the private passenger lounge at the New Terminal Building of Muscat in Oman.
The company now operates 40 passenger lounges in eight countries across the globe.
Primeclass, the brand of TAV Operation Services providing solutions for the passengers who are seeking comfort during their travels, has added Muscat in its service portfolio as the 20th airport.
TAV said it had won the operating rights of the passenger lounge for 10 years by placing the highest bid amongst the seven companies that joined the tender.