Bulgaria's international airports in Varna and Bourgas will be given under concession for a period of 35 years.

In June 2005, the concessions were awarded to Denmark's Copenhagen Airports, which outbid Germany's Fraport and a link-up of France's Vinci Airports and Vinci Concessions. Copenhagen Airports agreed to invest EUR 526 million in the terminals and the concession fee for the whole period will be around EUR 1.2 billion. The Danish operator said it would invest EUR 106 million in the first three years of the concession and the rest later on. Copenhagen Airports also vowed to overhaul the terminal at Bourgas and build a new one in Varna to accommodate an expected increase in annual passenger traffic from 2.3 million passengers in 2004 to 4.0 million over the next three years.

However, in January 2006 Bulgarian Supreme Administrative Court revoked the governmental decision to award the concession to Copenhagen Airports, saying the Danish company lacked the necessary experience in operating airports and has failed to prove its investment track record. The court decision is final and paves the way for talks with Germany's Fraport.