President Erdogan inaugurates giant Istanbul Airport

Phase one of Istanbul’s new airport, one of the world's three biggest airports, with an initial annual capacity of 90 million passengers was inaugurated officially on Monday by President Recep Tayyip Erdogan.

The inauguration ceremony took place on Republic Day, the 95th anniversary of the founding of the Turkish Republic. More than 50 foreign leaders, ministers and high-level officials are attending the ceremony.

Speaking at the ceremony, Erdogan said the new airport was given the name "Istanbul Airport."

All phases to be completed by 2028

He said Istanbul Airport will continue to grow for the next decade until all phases are completed by 2028.

Erdogan said Istanbul Airport represented an $11.6 billion-plus investment, and the amount of rent to be paid to the government totalled some $25.3 billion.

"We see Istanbul Airport as an investment not only in our country but also in our region and the world," Erdogan said.

He said  Istanbul Airport will be a model to the world with its architecture, construction, operation, and financing.

TRT World's Caitlin McGee talks to Turkish Presidential spokesman Ibrahim Kalin about the significance of the project.

Ataturk Airport to maintain status 

After the country’s national flag carrier, Turkish Airlines, shifts to the new airport — Istanbul Airport — by year’s-end, Ataturk Airport will transition to other uses, such as training activities, aviation fairs and civil use.     

“Ataturk Airport will maintain its status as an airport but it will be closed to commercial flights,” Erdogan said.

The $7.2 billion first stage, which was built in nearly three years through a public-private partnership model, is one of a series of mega-projects planned for Turkey’s 2023 centennial.   

“There is no Treasury guarantee or similar commitment in the financing of Istanbul Airport,” Erdogan said.

On Monday, two runways — stretching 3,750 and 4,100 metres long — went into service as a part of the first phase, including three separate airstrips. 

At full capacity — with the completion of all four phases with six runways — Istanbul Airport is set to become a global aviation hub by hosting more than 100 airlines and flights to over 300 destinations around the world.