ISTANBUL: July 12, 2017. İstanbul New Airport has signed 25-year leases valued at €250 million with six cargo operators.

MNG, PTT, Çelebi Ground Handling, HAVAŞ, Sistem Logistics and Bilin Logistics will build and operate facilities covering 200,000 square meters in the airport's new Cargo City and Ground Services Campus.

Hüseyin Keskin, CEO of İGA Airport Operation commented: "Turkey's strategic location, significant investments by Turkish Airlines in the freight sector, and the developing economy of our country ensure that Turkey becomes an ever more crucial center for air cargo transportation.

"As of today, we leased 50 percent of leasable areas. We contracted with around one hundred companies. I believe that we will make significant contributions to [the] Turkish economy through the business volume from those companies' future investments in the airport, " he continued.

The new Cargo City will cover 1.4 million square meters and enable the simultaneous operation of 35 widebody aircraft said IGA.

Noting Istanbul Ataturk Airport's cargo capacity was 918,000 tons in 2016 and is expected to reach one million tons by the end of this year, Keskin declared: "Istanbul New Airport is up to improve this capacity. Once opened, the airport will have 2.5 million tons of cargo capacity.

"Currently, the airport with the largest global cargo movement is Hong Kong Airport with a volume slightly more than 4.5 million tons. Yet, the Istanbul New Airport will have a capacity of 5.5 million tons when all its phases are complete."

The first phase is scheduled to open in 2018.