Meridiam: Record Traffic Across Four Continents, and a Pending Full Buyout in Madagascar

Olivier Baric

Dakar

September 18, 2026

Sofia airport v4

Sofia Airport

© Sofia Airport corporate webpage

9.79M

QAIA 2025 PASSENGERS, +11.3%

8.41M

SOFIA 2025 PASSENGERS, +6.2%

€450M

SOFIA TERMINAL 3 FINANCING

65%

CURRENT RAVINALA STAKE (PENDING 100%)

Record traffic, a landmark financing, and a pending full buyout in Madagascar

Meridiam's global airport portfolio delivered record traffic at three of its four core platforms in 2025, while the Paris-based infrastructure investor advanced a major financing package in Bulgaria, defended its position at New York's LaGuardia Airport, and now stands to take full ownership of its African platform through a pending buyout of Groupe ADP's remaining stake.

Meridiam airport portfolio — latest traffic, ownership and year-on-year trend.

Meridiam Airport Portfolio

Madagascar: A Pending Full Buyout

Meridiam currently holds 65% of Ravinala Airports, operator of Ivato and Nosy Be airports, with Groupe ADP negotiating to exit its remaining 35% stake to Meridiam, according to a report dated 20 May 2025 [S14] [S15]. If completed at the reported terms, the transaction would take Meridiam to 100% ownership, giving it sole control of Madagascar's principal gateway. As of this update, the transaction had not been confirmed as closed. Ravinala's two airports handled 1,303,850 passengers in 2025, up 10.1% YoY [S15].

Subscriber-only content. You must be signed in and have a subscription plan to view this information.

Not a member of airportIR?

Subscribers receive access to value-added content including the latest Deal Pipeline intel, in-depth feature articles and analysis, operator/investor profiles, industry insights, reports and much more.

What's Included

  • In-depth deal pipeline content
  • Feature articles and analysis
  • Detailed operator/investor profiles
  • Industry insights, reports and much more
Subscribe

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin faucibus arcu et sem dapibus, faucibus viverra ex semper. Sed maximus urna quis lectus porta gravida. Sed enim sem, ullamcorper at tempor et, tincidunt eget purus. Etiam vitae iaculis dolor. Etiam commodo tempus turpis. Integer ac nunc ac leo facilisis tempus. Pellentesque quis sagittis diam. Fusce congue pulvinar interdum. Curabitur porta libero enim, ullamcorper condimentum diam accumsan quis. In tempor egestas risus, id congue nibh cursus in. Cras sollicitudin fermentum orci et eleifend.

Nam eget imperdiet risus, at luctus nulla. Nullam porttitor, est quis viverra fringilla, ipsum velit tincidunt massa, vel egestas lacus velit eget mauris. Proin finibus condimentum tellus, in commodo felis dapibus a. Curabitur luctus et sapien a dapibus. Mauris faucibus dapibus justo vitae varius. Proin quis mauris eros. Curabitur tincidunt feugiat dignissim.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin faucibus arcu et sem dapibus, faucibus viverra ex semper. Sed maximus urna quis lectus porta gravida. Sed enim sem, ullamcorper at tempor et, tincidunt eget purus. Etiam vitae iaculis dolor. Etiam commodo tempus turpis. Integer ac nunc ac leo facilisis tempus.