Tirana International Airport (TIA) announced that it has decided to reduce the passenger fare from 12.5 euros to 10 euros, which will take effect with the amendment of the 2004 concession contract.
TIA stated that this will lead to a "significant" reduction in the price of airline tickets and is expected to have a positive impact on increasing the number of flights and destinations.
The decision, according to the TIA press release, was taken on December 18, 2020, when the company Kastrati Group, took possession of 100% of the share capital of TIA, after the purchase of shares from the Chinese company "Real Fortress Limited".
"As part of the changes to the Concession Contract, TIA announces that a full package of investments, amounting to approximately 100 million Euros, will be in the attention of the management, focusing on the expansion of the airport's accommodation capacity by 6 million passengers per year, the extension of the runway, the complete improvement of the airport infrastructure and the significant improvement of the quality of services,” is explained in the statement of Tirana International Airport.
The company also announced plans to liberalize Ground Handling Services and liberalize the aircraft fuel market, which it says will bring lower costs to the price of this fuel.