Kastrati's investment in Tirana airport to top 50% of plan by end-2023 - report

Thus the group would fulfil over half of its total investment pledge in the concession agreement, business and economics news provider Monitor quoted the group's CEO, Shefqet Kastrati, as saying.

In 2021, Tirana International Airport (TIA), the operator of the international airport at the Albanian capital owned by Kastrati Group, said it planned to invest approximately 100 million euro in the improvement of the airport infrastructure.

In June, Tirana airport added a second floor to its passenger terminal, which now houses shopping areas, restaurants, exhibitions, and book fairs. It is also building a new multi-level parking space.

“With our recent investments at the airport, mainly focusing on the expansion of the terminal, passenger capacity has increased significantly to 10.5 passengers per year,” Kastrati said.

Tirana International Airport (TIA) said earlier it welcomed its 6 millionth passenger for 2023 on November 1, advancing beyond last year's milestone of 5 million passengers it had reached in mid-December 2022.

Kastrati Group acquired 100% of the shares at the airport concessionaire from Chinese company Real Fortress Private Limited for 71 million euro in 2020.

Earlier in October, Tirana airport unveiled its expansion plan to accommodate the potential establishment of a dedicated base of Irish low-cost carrier Ryanair in the Albanian capital.

($ = 0.913 euro)