The concessionaire of Varna Airport and Burgas Airport, Fraport Twin Star Airport Management AD, has renewed its lease agreement with ETG Maintenance, a subsidiary of Vector Group, for the aircraft hangar at Varna Airport, ensuring their collaboration will continue for another 10 years. This milestone strengthens the fruitful partnership that began in 2016, focusing on investments and operations at Varna Airport.

This renewed agreement underscores Fraport Twin Star’s commitment to the successful and efficient management of Varna and Burgas Airports and highlights ETG Maintenance’s pivotal role in the region’s aviation ecosystem. It also emphasizes a growing collaboration with Electra Airways, which not only partners with ETG Maintenance for aircraft servicing at the Varna hangar but is also set to operate flights in cooperation with SunExpress starting in the summer of 2025.

Effi Grunwald, CEO of Vector Group, remarked: “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. By constantly enhancing the technical capabilities of ETG Maintenance, we are paving the way for continued growth and innovation. This agreement aligns with our commitment to investing in cutting-edge infrastructure and innovative solutions, enabling us to better serve our partners and strengthen the aviation sector in Bulgaria and beyond. Moreover, this extension supports our investment program, creating opportunities for new jobs and enhancing the competitiveness of both ETG Maintenance and Varna Airport. We are proud to continue our successful collaboration with Fraport Twin Star and look forward to achieving even greater milestones together.”

Stefan Trifonov, CEO of ETG Maintenance, added: “Our partnership with Fraport Twin Star is a prime example of how collaboration can drive mutual success. Extending our lease in Varna ensures we can continue to support the development of the Bulgarian aviation sector and contribute to the efficiency and growth of Varna Airport. Varna has been and will remain our main technical base, where we deliver world-class maintenance services to our partners. We deeply value this ongoing relationship with Fraport Twin Star and are excited to work together on future projects that benefit the region’s economy and tourism industry.”

Dr. Frank Quante, Chief Executive Officer of Fraport Twin Star Airport Management AD, commented: “I am very happy about the collaboration with Electra Airways, both with the flight program executed in cooperation with SunExpress and with the hangar business at Varna Airport. The company is developing with an impressive dynamic, which is important for the airports and the tourism sector of the Bulgarian Black Sea!"

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