April 25, 2024

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[THE INVESTOR] Incheon International Airport Corp. is seeking to acquire operational rights of Serbia’s largest airport Belgrade Nikola Tesla Airport, the Korea Economic Daily reported on June 26.

Citing unnamed sources, the report said, the deal is expected to be worth around 400 million euros (US$447.61 million). 

The Korean state-run airport has formed a consortium with Turkish construction firm Yatirimlari ve Islatme and Russian investment company VTB Capital Infrastructure to participate in the preliminary bidding. Other bidders include Swiss Zurich Airport, French Meridiam, French Vinci Airports, Chinese Hainan Air Travel Service and China National Aero-Technology.

Nikola Tesla Airport, located 18 kilometers from Belgrade, generated 26 million euros net profit last year. About 400 people work at the airport.

The report said the deal will allow the bidder exclusive rights to operate the airport for 25 years. The operator will be required to pay up to 11 million euros out of its profits to the Serbian government.

The local government plans to announce a preferred bidder on Sept. 4.

IIAC has been seeking to acquire operational rights of foreign airports in recent years. In 2012, the firm was named a preferred bidder to acquire 50-year operational rights for Myanmar’s new airport project but gave up the bid due to difficulties in funding the 1 trillion won (US$880 million) deal.

By Song Seung-hyun (ssh@heraldcorp.com)