T&T Airport Management to pay 250 million TL in Q4 2023
T&T Airport Management to Pay 250 Million TL to Finance Ministry for Last Quarter of 2023
The Ministry of Public Works and Transport has announced that T&T Airport Management is continuing to fulfill its financial obligations as per the Ercan State Airport Operating Rights Transfer Agreement. The company will be paying 250 million TL to the Ministry of Finance for the last quarter of 2023.
T&T Airport Management, the operator of Ercan Airport, which is considered the “TRNC’s only window to the world”, will be paying 250 million TL to the Ministry of Finance within the scope of 47.8 percent of turnover plus VAT revenue sharing, as per the terms of the tender.
According to the Ministry, the increasing number of passengers with the opening of the new Ercan Airport and the ability of wide-body aircraft to land on the runway have also led to an increase in the amount entering the state treasury.
In a statement, the Ministry highlighted that “T&T Airport Management is giving 250 million Turkish lira, corresponding to 47.8 percent of the 4th period revenue covering the months of October-November-December 2023, to the treasury of the Ministry of Finance.” This demonstrates the company’s commitment to fulfilling its financial obligations under the operating rights transfer agreement.
