On Wednesday, May 22, Armenian Deputy Prime Minister Mher Grigoryan announced during a government hour in parliament that the sketch of the new terminal for Zvartnots Airport is ready, and its preliminary cost is estimated at €450 million.
However, according to Grigoryan, negotiations with the airport concessionaire, Corporacion America, are challenging due to the current version of the concession agreement. The agreement provides for a 20% internal rate of return (IRR) for the concessionaire, which the current government considers excessive. Nevertheless, discussions are ongoing, and indicative (conceptual) terms for new investments are expected to be ready in about a month.
Earlier, Corporacion America Airports reported that negotiations with the Armenian government on expanding Zvartnots Airport and increasing commercial offerings are ongoing. It was then reported that the total investment is expected to be around $350-400 million. The proposed investment program is planned for the next five years.
Yerevan’s Zvartnots Airport, located 10 kilometers west of the capital, is under the concession ownership of Armenia International Airports CJSC, owned by Argentine entrepreneur of Armenian descent Eduardo Eurnekian. He is the owner of Corporacion America Airports.
BMG reported that a record growth in Armenia's civil aviation sector was recorded in 2023. According to official data, the passenger traffic volume in Armenia’s two airports (Yerevan and Gyumri) increased by 46.7% last year, reaching 5.4 million people, significantly surpassing the record figures of 2022, when the number of passengers was 3.6 million.
