Bulgaria’s caretaker authorities stated on September 21 that it has accredited the request lodged by Fraport Twin Star Airport Administration to increase the concession settlement for the airports within the Black Sea cities of Varna and Bourgas.

The five-year extension implies that the concession settlement for the 2 airports will run till November 10 2046.

The caretaker Cupboard stated in a press release that the concessionaire agreed to take a position a further 10 million euro within the airports, which can take the overall quantity of its funding commitments to 413 million euro.

Fraport’s extension request cited the “new disaster financial circumstances”, attributable to the continued Covid-19 pandemic and the “army battle between Russia and Ukraine,” which led to a severe decline of passenger site visitors, the federal government assertion stated.

Fraport Twin Star Airport Administration is a subsidiary of Fraport AG, the German operator of Frankfurt Airport and various different airports worldwide. It was awarded the concession for the Varna and Bourgas airports in 2006.

(Varna Airport picture: varna.bg)

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