Turkish airports operator TAV reports small 1Q2022 operating profit as CEO steps down after 25 years

If an investor was asked to cast his eye over a potential share in any of TAV's airports he would at the very least think twice about it.

Within its home country, Turkey, TAV is at the whim of economic and political factors that have blown up over the past five years or so, while internationally it seems to select investment 'opportunities' in countries that most of its peers would run a mile from.

Even so, it has managed to turn a small operating profit in 1Q2022 and restored a positive EBITDA (albeit a small one), just as its long-serving CEO steps down after two and a half decades.

It is a fitting ending to a lengthy career - that the critical financial statistics are in the black after two years of pandemic - but further challenges face TAV as an experienced team move up to the plate.