BAKU, Azerbaijan, November 2
By Tamilla Mammadova – Trend:
The revenues of the Tbilisi-Batumi international airport management company TAV Georgia increased from $214.2 million in 2017 to $250.9 million in 2018, Trend reports citing TAV Georgia.
The company's net profit grew by $7.5 million year on year. Operating profit was $183.6 million.
In 2019, the company expects revenue to decrease by 25 percent.
Compared to 2018, the planned growth for 2019 in both passenger and air traffic stands at 12 percent. However, the political events of the summer of 2019 and the Russian air embargo significantly changed the situation.
According to conservative estimates, by the end of 2019, passenger traffic will be 1 percent lower than in 2018.
“In 2019, the company began active negotiations with several international airlines. Starting in 2019, the companies such as Air France, Air Malta, Uzbek Airlines, AtlasGLobal began working with Georgia. This will help soften the negative impact of the Russian embargo in the near future,” TAV Georgia said in a statement.
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