January 27, 2021, Tirana (Albania) - In the first official announcement for this new year, Tirana International Airport (TIA) announces the good news of reducing the passenger fare and unveils an ambitious investment plan in the airport structure, to contribute in facilitating ticket prices and the overall development of Albanian aviation and tourism.

The new developments come after December 18, 2020, when the leading Albanian company Kastrati Group, founded in 1990, made the acquisition of 100% of the share capital of TIA from the Chinese company "Real Fortress Limited".

The reduction of the passenger tariff from 12.5 Euros to 10 Euros is the first decision taken by TIA and which will start with the amendment of the Concession Contract approved in 2004. As a result of this reduction of the tariff, the effect on the reduction of the price of ticket and in increasing the number of flights and destinations, will be noticeable.

As part of the changes to the Concession Agreement, TIA announces that a full package of investments totalling approximately € 100 million will be in the focus of management with a focus on expanding the airport's accommodation capacity by 6 million passengers per year, runway extension, complete improvement of airport infrastructure and significant improvement of service quality.

This investment plan by the new concessionaire is an ambitious plan, which aims to significantly improve the operation of Mother Teresa Airport and turn Tirana International Airport into a positive example in the region, with an extraordinary impact on the growth of tourism in Albania and improving the ease of doing business.

Along with the reduction of the passenger fare, part of the package of amendments to the Concession Contract is the liberalization of Ground Handling Services and the liberalization of the aircraft fuel market which will bring lower costs in the price of this fuel. All of these significant changes will have an immediate effect to attract other "low cost" airlines, including Ryan Air, and consequently will have the effect of lowering the ticket price paid by TIA passengers. Further, with the easing of travel conditions after the pandemic, these decisions will affect the increase of the number of flights and destinations.