Albania airport operator, TIA, bought by China’s Everbright Group

As part of the China’s economic drive to invest in overseas businesses, the Everbright Group, a state-backed finance firm, has acquired all the shares of Tirana International Airport (TIA) which operates the country’s principal airport, also known as Rinas International Airport. The purchase price has not been disclosed, but it has been known that the Chinese group had paid US$90 million to operate the airport until 2027. The concession was extended by two years after a deal opened the way for international flights to land at Kukes airport in the northeast of Albania.
This is the first time a Chinese business has invested in Albania, and follows the new Chinese overseas investment initiative of “One Belt and One Road”. Chen Shuang, CEO of China Everbright, a unit of China Everbright Group, is quoted as saying that with the company’s “support and resources, TIA can further upgrade its facilities and hardware meeting excellence in all aspects.”
Passenger numbers at Rinas International Airport have risen to 1.9 million so far in 2016, up from 600,000 in 2005. TIA confirmed that it has invested 70 million euros (US$78.14 million) since 2005 in the development and expansion of the airport.
Shareholders in TIA included AviAlliance GmbH, formerly HOCHTIEF AirPort GmbH, DEG (the German investment and development company) and the Albanian-American Enterprise Fund.