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English
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oda_PartialOrCompleteSuspensionOrImposssibilityOfOperationsAbstract|
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oda_UpdateAnnouncementFlag|
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Hayır (No)
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oda_CorrectionAnnouncementFlag|
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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-
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oda_DelayedAnnouncementFlag|
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Hayır (No)
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oda_AnnouncementContentSection|
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oda_NatureOfSituationOccured|
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Discontinuation of Operations at Ataturk Airport
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oda_InformationAboutOperationsSupendedOrBecameImpossible|
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Airport Terminal Operations
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oda_ReasonOfSuspensionOrImpossibilityOfOperations|
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Ataturk Airport operations are terminated as of April 06, 2019 02:00, due to transfer of all commercial flights to Istanbul Airport.
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oda_DecisionDateOfAuthorizedBodyIfExits|
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-
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oda_ValidityDateOfSuspensionOrImpossibilityOfOperations|
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April 06, 2019, 02:00
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oda_EffectOfSuspensionOrImpossibilityOfOperationsOnTotalProductionOfCompany|
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Passenger numbers of Ataturk Airport represents 45% of TAV Airports' Total traffic as of 2018.
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oda_EffectOfSuspensionOrImpossibilityOfOperationsOnTotalSalesOfCompany|
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Revenue of Ataturk Airports represents 43% of TAV Airports' consolidated Revenue as of 2018.
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oda_ShareOfPartiallySuspendedOperationsInTotalProductionAndSalesOfCompany|
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-
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oda_NumberOfPersonnelWhoseEmploymentContractsWereOrWillBeTerminated|
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Around 4.500
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oda_TotalAmountOfSeveranceAndTerminationPaysThatWasOrWillBePaid|
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Around TL 204 milion
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oda_PrecautionsTookIntoConsiderationByCompanyManagement|
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The compensation for loss of profit for early termination of Ataturk Airport operations is currently being evaluated by DHMI and TAV.
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oda_ConditionsRequiredForGoingIntoOperationAgain|
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-
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oda_ExpectedDateToBeginOperations|
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-
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oda_EffectsOnContinuityAssumptionOfCompany|
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No material effect expected.
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oda_ExplanationSection|
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oda_AdditionalExplanationTextBlock|
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TAV Istanbul has the right to operate Ataturk Airport International and Domestic Terminal Building, Parking Garage and General Aviation Terminal for 15.5 years, from 03.07.2005 00.01 hours until 02.01.2021 24.00 hours as per the lease contract entered into with the State Airports Authority ("DHMI"). As of April 06 2019 02:00, all commercial flights have been transferred to the new Istanbul Aiport In our Public Disclosure made on January 22, 2013 we announced that in the formal letter addressed to Our Company by State Airports Authority (DHMI), DHMI had stated that it would reimburse our company for loss of profit that may be incurred due to opening of the New Istanbul Airport before the end of TAV Istanbul's lease period which ends on January 3, 2021 and independent companies may be consulted for the calculation of the total amount of the loss of profit. The compensation for loss of profit for early termination of Ataturk Airport operations is currently being evaluated by DHMI and TAV. Independent companies are also consulted as part of these evaluations. TAV expects to receive a formal notification of this compensation from DHMI.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.