Fraport Twin Star Airport Management

Fraport Twin Star Airport Management AD (often shortened to Fraport TSEAM AD, and branded locally as Fraport Bulgaria) is a German-Bulgarian joint-stock company that operates the two international airports on Bulgaria's Black Sea coast: Varna Airport and Burgas Airport. It is the concessionaire of both airports under a long-term agreement with the Bulgarian government, and it is part of the Fraport Group, the international airport operator headquartered at Frankfurt Airport in Germany. The company was established in 2006 as a joint venture between Fraport AG and the TIM Group holding of Chimimport, a Bulgarian industrial and financial group. Shortly after its creation it was awarded a 35-year concession to modernise, develop and manage Varna and Burgas airports. In 2022 that concession was extended by a further five years, running to November 2046. Over the life of the concession the company has committed to invest a total of EUR 413 million in the two airports. Fraport TSEAM's business is the safe, efficient and commercially profitable operation of the two coastal airports, which serve both year-round Bulgarian traffic and a large seasonal leisure market driven by Black Sea tourism. The company employs more than 830 full-time staff. Before the COVID-19 pandemic, in 2019, it handled more than 4.9 million passengers from 230 destinations across Europe, Asia and Africa and more than 105 airlines. Traffic recovered gradually after the pandemic, with more than 2.9 million passengers from 155 destinations and more than 77 airlines expected in 2022. The company has invested heavily in terminal modernisation and passenger experience, including the "Gate Gardens" commercial and interior project at Varna and Burgas, which won recognition in the FAB Awards and Bulgaria's national "Building of the Year" competition. It has also received awards for tourism contribution, service quality, innovation as an employer and investment in transport and logistics. By 2024 the company reported sales of BGN 120 million and net profit of BGN 16.3 million, making it one of Bulgaria's largest air-transport auxiliary enterprises.

Fraport Twin Star Airport Management AD was created in 2006 as a mixed joint-stock company combining German airport expertise with Bulgarian capital. Its shareholders were Fraport AG, the Frankfurt-based international airport operator, and the TIM Group holding of Chimimport, a Bulgarian industrial and financial group. The company was registered in Varna, on Bulgaria's Black Sea coast, positioning it at the heart of the country's coastal aviation market. Shortly after its formation, the company secured a 35-year concession from the Bulgarian government to manage, modernise and develop the two international airports serving the Black Sea coast: Varna Airport and Burgas Airport. The concession gave Fraport TSEAM responsibility for airport operations, infrastructure investment and commercial development over a multi-decade horizon. In 2022 the concession was extended by a further five years, taking it to November 2046. Across the concession period the company committed to invest a total of EUR 413 million in the two airports. The two airports serve distinct but complementary roles. Varna Airport is linked to Bulgaria's third-largest city and a major year-round urban and resort market, while Burgas Airport primarily serves the southern Black Sea coast and its large seasonal leisure traffic. Together they form the core of Fraport TSEAM's business, handling a mix of scheduled, charter and low-cost carriers. By 2019, before the COVID-19 pandemic, the company had grown into the second-largest air-transport auxiliary enterprise in Bulgaria by sales volume, after the state-owned air traffic services provider. That year it handled more than 4.9 million passengers from 230 destinations across Europe, Asia and Africa and more than 105 airlines. The pandemic sharply reduced traffic, and recovery was gradual: in 2022 the company expected to handle more than 2.9 million passengers from 155 destinations and more than 77 airlines. During the 2010s and 2020s the company invested in terminal modernisation and passenger experience. Its "Gate Gardens" project at Varna and Burgas, together with interior reconstruction of Terminal 2, won a gold distinction in the "Airport Food & Beverage Opening of the Year" category at the FAB Awards 2026 and an award in the "Strategic Transport Infrastructure" category of Bulgaria's national "Building of the Year 2025" competition. The company has also been recognised with a Golden Prize 2025 for its contribution to tourism development, a Golden Prize and diploma from the Burgas Chamber of Commerce and Industry for 2024, and earlier awards including "Most Innovative Employer 2021", the German Economy in Bulgaria award for 2016, and "Investor of the Year 2013" in transport and logistics. By 2024 the company reported sales of BGN 120 million and net profit of BGN 16.3 million, employing more than 830 full-time staff. It remains part of the Fraport Group, which is headquartered at Frankfurt Airport and operates airports worldwide.

• 2026

  Wins gold in the "Airport Food & Beverage Opening of the Year" category at the FAB Awards 2026 for the Gate Gardens project at Varna and Burgas airports.

• 2025

  "Gate Gardens and interior reconstruction of Terminal 2" wins the Strategic Transport Infrastructure category at Bulgaria's national "Building of the Year 2025" competition.

• 2024

  Reports sales of BGN 120 million and net profit of BGN 16.3 million.

• 2022

  The concession is extended by five years, to November 2046.

• 2022

  More than 2.9 million passengers from 155 destinations and more than 77 airlines expected as traffic recovers from the pandemic.

• 2021

  Named "Most Innovative Employer" by the Union of Transport Trade Unions in Bulgaria.

• 2019

  Handles more than 4.9 million passengers from 230 destinations and more than 105 airlines, becoming Bulgaria's second-largest air-transport auxiliary enterprise by sales.

• 2016

  Receives the German Economy in Bulgaria award in the "Large Enterprises" category.

• 2013

  Named "Investor of the Year" in the transport and logistics sector by the Bulgarian Investment Agency.

• 2006

  Fraport Twin Star Airport Management AD is established as a joint venture between Fraport AG and the TIM Group holding of Chimimport.

• 2006

  The company signs a 35-year concession agreement with the Bulgarian government to modernise and develop Varna and Burgas airports.

International-standard airport operator delivering safe, efficient and commercially profitable management of Bulgaria's two Black Sea airports.

• Varna Airport operations and concession

  Management, modernisation and commercial development of Varna Airport under a long-term concession.

• Burgas Airport operations and concession

  Management, modernisation and commercial development of Burgas Airport under a long-term concession.

• Gate Gardens

  Commercial and interior project at Varna and Burgas airports, recognised at the FAB Awards 2026 and Bulgaria's Building of the Year 2025.

1. 1Fraport Bulgaria - оператор на Летище Варна и Летище Бургасfraport-bulgaria.com
2. 2За насfraport-bulgaria.com
3. 3Наградиfraport-bulgaria.com
4. 4Качествоfraport-bulgaria.com
5. 5Fraport Twin Star Airport Management - Wikidatawikidata.org
6. 6Фрапорт Туин Стар Еърпорт Мениджмънт - Wikipedia (Bulgarian)bg.wikipedia.org