The memorandum for reconstruction of a runway in Tbilisi signed between the old Georgian government and TAV, a Turkish company managing airports in Tbilisi and Batumi, has been nullified.
The company was planning to invest $65 million in reconstruction of the runway in exchange for extension of a contract to continue management of the Tbilisi Airport for additional 10 years and 9 months.
TAV subsidiary TAV Urban Georgia has a deal to manage the Tbilisi Airport until February 2027. Georgian Deputy Minister for Economy Natia Mikeladze said that extension of the deal by 11 more years was unnecessary.
Georgian President Mikheil Saakashvili criticized nullification of the deal and believes that it will bring tourism repercussions.
