ADP Expects Indemnification for Istanbul Airport, Tribune Says

Aeroports de Paris expects to be indemnified by the Turkish government if a third Istanbul airport is built, La Tribune reported, citing the French company’s chief executive officer, Pierre Graff.

Aeroports de Paris (ADP) paid $874 million last March for a 38 percent controlling stake in TAV Havalimanlari Holding AS (TAVHL), which operates Istanbul’s main Ataturk airport. The Turkish government last month asked for tenders to build a third airport, which would either force indebted ADP to invest more money in its construction or see Ataturk’s traffic siphoned away, La Tribune said.

The third airport may not be open before ADP’s concession at Ataturk expires in 2020, the French Web-based business newspaper said.

To contact the reporter on this story: Gregory Viscusi in Paris at gviscusi@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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