Brief: Tav Airports Discussions Between JV Tibah And Saudi Arabia Aviation Authority Have Finalized

Tav Havalimanlari Holding

30/12/2021 15:24

Dec 30 (Reuters) - TAV HAVALIMANLARI HOLDING  TAVHL.IS :
    * THE DISCUSSIONS HELD BETWEEN OUR JV TIBAH AIRPORTS
DEVELOPMENT
CJSC (TIBAH) AND SAUDI ARABIA AVIATION AUTHORITY (GACA) HAVE
FINALIZED
    * THE OPERATING PERIOD OF MADINAH AIRPORT HAS BEEN EXTENDED
    * TAV AIRPORTS- FROM FEB 2020 TO MADINAH AIRPORT REACHES 8.1
MILLION PAX, DEFINED AS FORCE MAJEURE PERIOD TO BE ADDED TO
OPERATING PERIOD OF AIRPORT
    * THE ADDITIONAL TIME THAT WILL BE ADDED TO THE OPERATING
PERIOD
OF THE CONCESSION CANNOT BE LONGER THAN EIGHT YEARS
    * CONCESSION RENT PAYMENTS DUE TO GACA DURING FORCE MAJEURE
PERIOD
HAVE BEEN DEFERRED AND TO BE PAID MOSTLY AFTER END OF FORCE
MAJEURE PERIOD
    * AS PART OF THE SAME AGREEMENT, TAV AIRPORTS TO PROVIDE A
SHAREHOLDER LOAN OF $218 MILLION TO TIBAH

Source text for Eikon:  ID:nIKA4Xv8fl 
Further company coverage:  TAVHL.IS 

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