Bulgaria’s Sofia Airport is undergoing a major transformation through a long-term public-private partnership supported by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). With assistance from the EBRD’s Infrastructure Project Preparation Facility, the Bulgarian government successfully launched a 35-year concession aimed at unlocking investment, tourism and trade opportunities for the country.
In 2020, the SofConnect consortium, majority-owned by Meridiam, secured the concession contract for Sofia Airport. Under the agreement, the consortium committed to investing at least €624 million into the airport’s modernization and expansion, including the construction of a new terminal within the first decade of operations.
To strengthen the concession project, the EBRD contributed €50 million as part of a €250 million debt financing package in 2021. The bank later expanded its support by providing €57.9 million in indirect equity financing and an additional €16.3 million in contingent equity.
Despite the challenges created by the Covid-19 pandemic on the aviation industry, Sofia Airport has continued upgrading its infrastructure and enhancing passenger services. The airport has also set an ambitious goal of becoming Europe’s first five-star regional airport while improving operational efficiency and customer experience.
Sustainability remains a major focus of the project. Sofia Airport aims to achieve full carbon neutrality by 2036, with more than €50 million allocated specifically for decarbonisation measures and environmentally sustainable operations.
A key milestone in the modernization plan is the construction of the new Terminal 3, which is expected to begin soon and be completed before 2030. The new terminal is designed to create a modern, competitive and environmentally friendly gateway that will strengthen Bulgaria’s international connectivity and support long-term economic growth.
