Istanbul New Airport: iGA increases capital to ‘record high’

posted on 7th September 2018 by yumna
Istanbul New Airport: iGA increases capital to 'record high'

İGA, the construction and 25-year operation contractor of the İstanbul New Airport, increases its capital by 1,790 Billion TRY to 6,240 Billion TRY.

Following this increase, İGA reached the size of 4th company among Fortune 500 list in terms of equity capital. Since its establishment, İGA’s Shareholder’s equity reached 1,6 Billion EURO.

Mr. Kadri Samsunlu, the Chief Executive Officer and General Manager of İGA Airport Operations points out that the airport construction has been completed by 94 percent and continues: “We have set very strong targets for the İstanbul New Airport to offer additional added value to the Turkish economy.

Currently, the capital of İGA has increased same level of the biggest companies. This decision is an evidence to the trust of our shareholders in the Turkish economy and to the fact that İGA’s airport construction and operation has been performed by far above the world standards and that İstanbul will become the world’s aviation hub.

We have less than 90 days to the opening. We can say that this capital increase has both reinforced our company’s financial structure and ensured the making of required investment at a fast pace.

According to an economic impact assessment we had done by an independent institution in 2016, the İstanbul New Airport can create direct and indirect employment opportunities for 225 thousand persons by the year 2025.

It is also forecast that the household income we will generate can amount up to nearly USD 4.4 billion dollars and contribution to Turkey’s national economy can be up to 4.9% of the national income. And this indicates us that the İstanbul New Airport will greatly contribute to Turkish economy.”