28 Feb 2019

TAV OS becomes GIS shareholder

On Thursday 17th January, the agreement making TAV Operation Services (TAV OS) a majority shareholder of GIS was put into effect. The Munné family will continue being the second largest shareholder, and Mr. Josep Munné will continue as President of the company and member of the new GIS Board of Directors.

TAV OS, a company of Turkish nationality, is one of the main operators worldwide in the non-aeronautical airport services sector. It is currently present in 25 airports in 14 countries, managing 60 lounges around the world and providing a wide range of premium services for passengers. Together the two companies are now the second largest lounge operator worldwide. We are present in 22 countries, operate 84 lounges and welcome more than 7.5M passengers a year.

TAV OS is owned 100% by TAV Airports Holding, a company listed on the Turkish Stock Exchange. Additionally, the ADP Group (which is listed on the French Stock Exchange) is the major shareholder of TAV Airports Holding, having bought 38% of the stock in 2012 and another 8% in 2017. This transaction created the world’s foremost airport operations partnership, providing service to 228 million passengers annually.

TAV Airports is the leading airport operator in the Middle East and North Africa. It manages a portfolio of 14 airports in 6 countries, including Turkey, Georgia, Tunisia, Macedonia, Saudi Arabia and Croatia. The group reported a consolidated turnover of €1.1 billion in 2018, with an EBITDA of €573 million. It employs more than 15,800 people and provides service to over 152 million passengers (a 31% increase over 2017).

Following its majority acquisition of GIS stock, TAV OS will continue expanding its activities in other geographical areas, especially in Europe and Latin America, which is where GIS’s activities are currently focused, and will also incorporate the GIS management team and specific GIS products to contribute to its future growth. The combination of TAV OS and GIS’s regional know-how and unique operational capabilities will further enhance our integrated efficiency, operational management and business strength.

The incorporation of a partner like TAV OS into GIS’s capital stock will benefit its financial strength and help it carry out its growth plans, while also consolidating its operational and human resources to further improve the provision of services to our customers in an increasingly global environment.