The concessionaire of Varna Airport and Burgas Airport, Fraport Twin Star Airport Management AD, has extended its lease agreement with ETG Maintenance for the aircraft hangar at Varna Airport. This renewal marks another 10 years of collaboration between the two entities, which began in 2016, focusing on investments and operations at Varna Airport.

This agreement highlights Fraport Twin Star's dedication to managing Varna and Burgas Airports efficiently while emphasizing ETG Maintenance's significant role in the aviation sector. The collaboration also involves Electra Airways, which partners with ETG Maintenance for aircraft servicing at Varna and is set to operate flights with SunExpress starting summer 2025.

Effi Grunwald, CEO of Vector Group, stated: “This lease extension represents much more than a renewal of a contract—it is a reflection of Vector Group’s strategic vision and long-term development plans." She added that the extension aligns with their commitment to investing in infrastructure and solutions that strengthen Bulgaria's aviation sector. It also supports their investment program by creating jobs and enhancing competitiveness.

Stefan Trifonov, CEO of ETG Maintenance, commented: “Our partnership with Fraport Twin Star is a prime example of how collaboration can drive mutual success." He emphasized that extending their lease in Varna allows them to support the Bulgarian aviation sector further.

Dr. Frank Quante, CEO of Fraport Twin Star Airport Management AD, expressed his satisfaction with the collaboration: “I am very happy about the collaboration with Electra Airways."

This agreement reinforces the strategic partnership between Fraport Twin Star, Vector Group, and its subsidiaries, promoting growth for Varna Airport and the Black Sea region.