TAV Georgia has been operating Tbilisi International Airport since 2005. According to the state's license agreement, TAV will be the operator of Tbilisi Airport until January 21, 2027.
During 2019, Tbilisi International Airport served 36,428 flights, of which 35,224 were international flights. According to the report, the number of flights was reduced by 4% in 2019 due to Russia's air embargo after June 20. In total, the company's revenue in 2019 was GEL 260.6 million (up 3.8%), and net profit was GEL 163.6 million (down 0.3%).
According to sources, the revenues of Tbilisi International Airport were as follows:
Revenue from air services - 158.6 million GEL, an increase of 3.3% over the previous year;
Revenue from land services - 63.9 million GEL, an increase of 3.9% over the previous year;
Commission fee - Duty-Free Shops - 16.7 million GEL, a decrease of 0.4% over the previous year;
Income from area distribution - GEL 8.0 million, an increase of 14.0% over the previous year;
Revenue from car parking services - GEL 3.2 million, decrease compared to the previous year - 2.6%;
Concession fee - food and beverage - 2.9 million GEL, an increase of 5.5% over the previous year;
Revenue from lounge services - GEL 2.8 million, an increase of 9.8% over the previous year;
Other income - 4.5 million GEL, an increase of 27.4% over the previous year;
Revenue from land services - 63.9 million GEL, an increase of 3.9% over the previous year;
Commission fee - Duty-Free Shops - 16.7 million GEL, a decrease of 0.4% over the previous year;
Income from area distribution - GEL 8.0 million, an increase of 14.0% over the previous year;
Revenue from car parking services - GEL 3.2 million, decrease compared to the previous year - 2.6%;
Concession fee - food and beverage - 2.9 million GEL, an increase of 5.5% over the previous year;
Revenue from lounge services - GEL 2.8 million, an increase of 9.8% over the previous year;
Other income - 4.5 million GEL, an increase of 27.4% over the previous year;
As for the main costs of the airport, it is distributed as follows:
Operating expenses - GEL 27.6 million; Salary expenses - 23.4 million GEL; Depreciation - 20.9 million GEL and profit tax - 31.9 million GEL.
According to the management report, the passenger flow planned by TAV Georgia in 2020 was reduced by 86%. In total, the company predicts a decrease in revenue of 133 million GEL this year.
"The flow of real passengers in the first eight months of 2020 was reduced by 86% compared to the previous year when the airport served 2 million 652 thousand passengers in the first eight months of 2019. In 2020 we received only 515 thousand in the same period, which is 5 times less.
As for the number of aircraft in the first 8 months of 2020, the decrease compared to the previous year is 78% and compared to the budgeted 79%. Thus, the impact of the pandemic on business turned out to be enormous.
In terms of revenue, the data for the 8 months of 2020 is quite weak compared to 2019. Revenues decreased to GEL 144 million [-74%] compared to the budget, and to GEL 133 million [-73%] compared to the same period last year. "According to the company's annual forecast, 2020 will close with a 64% decline in revenue," the management report said.
TAV Urban Georgia is a member of the TAV Airports Holding Group, which started operating in Georgia in 2005. According to the existing contract, the company will be the operator of Tbilisi International Airport until 2027. According to the audited financial report, the main controlling party of TAV Holding itself is the French Aéroports de Paris.
