New Ulaanbaatar International Airport Set To Open In Mongolia

Ulaanbaatar, Mongolia, July 2, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC), Narita International Airport Corporation (NAA), Japan Airport Terminal Co., Ltd. (JAT), and JALUX Inc. (JALUX) are pleased to announce that the New Ulaanbaatar International Airport (Official name: Chinggis Khaan International Airport) will be officially opened to the public on July 4, 2021. The new airport will be operated by the partners' joint venture with the Mongolian government that was established in 2019. Under the terms of its concession agreement with the government, New Ulaanbaatar International Airport LLC (NUBIA) will be in charge of airport operations for the next 15 years.

The new airport was originally scheduled to commence operations in 2020, but the opening was delayed because of the COVID-19 pandemic. All assets have now been safely transferred from the old airport (Buyant-Ukhaa International Airport), thereby readying the new airport for flights and passenger traffic.

Although the pandemic has significantly reduced air travel in Mongolia, demand for flights is expected to increase over the medium to long term, particularly in Ulaanbaatar, the country's capital and center of its political and economic activity. The new airport will likely play an increasingly prominent role over the coming years.

In operating the new airport, NUBIA will be taking advantage of the combined expertise of its four shareholders. MC boasts a strong track record in airports and other infrastructure projects in Japan and around the world, while NAA and JAT operate Narita International Airport and the passenger terminal buildings at Haneda Airport respectively. JALUX is engaged in airport retail businesses and also has experience managing overseas airports. In addition to prioritizing passenger safety, security and comfort, NUBIA plans to leverage the new airport to increase the number of routes and flights servicing Ulaanbaatar, develop attractive in-terminal commercial facilities, and otherwise enhance the new airport's services and profitability.

While maintaining all precautions to prevent the spread of COVID-19, NUBIA is committed to building on a facility that is already being heralded as a symbol of bilateral cooperation between Japan and Mongolia, and in operating the new airport efficiently, the joint venture will do its best to contribute to the sustainable development of Mongolia's economy and society.

1. Mitsubishi Corporation

A global integrated business enterprise that develops and operates businesses across virtually every industry including natural gas, industrial materials, petroleum & chemicals solution, mineral resources, industrial infrastructure, automotive & mobility, food industry, consumer industry, power solution and urban development.

URL: www.mitsubishicorp.com

2. Narita International Airport Corporation

Establishment and management of Narita International Airport

URL: www.naa.jp

3. Japan Airport Terminal Co., Ltd.

JAT's main lines of business are Terminal Building Management at Haneda Airport as well as associated Merchandise and Food & Beverage sales.

URL: www.tokyo-airport-bldg.co.jp

4. JALUX Inc.

Aviation & Airport-related business, Life Service Business, Retail Business, Food & Beverage Business

URL: www.jalux.com

5. NUBIA : New Ulaanbaatar International Airport LLC

Operation of New Ulaanbaatar International Airport (Chinggis Khaan International Airport)

Shareholders:

Japan Airport Management LLC: 51.0% (Special Purpose Company funded by MC, NAA, JAT and JALUX)

Khushigiin Khundii Airport Stated Owned LLC: 49.0% (Special Purpose Company funded by Govt of Mongolia)

URL: http://www.nubia.mn

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