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Panama Considers Privatization of #Tocumen International Airport Last Tuesday the President of Panama revealed that his government is evaluating the privatization of Tocumen International Airport in Panama City. The announcement was made during a business roundtable with 24 French multinationals during Mulino's official visit to Paris. The concession would include Tocumen the country’s main air terminal, along with other smaller airports in Río Hato, Colón, and David, which are all all under the administration of the 100% state-owned Aeropuerto Internacional de Tocumen S.A. (AITSA). Both the President and the Minister of Commerce & Industry indicated that the concession will be granted by tender to a “highly solvent international companies with vast experience in airport management”. The plan will likely attract the interest of airport operators that already have concessions to operate airports in Latin America. These are: VINCI Airports and Groupe ADP (Aéroports de Paris) from France, Aena (Barajas Airport in Madrid) from Spain, the German Fraport AG and the Swiss Zurich Airport Ltd, among others. Want to know more? Visit us for the main data on Tocumen Airport. #airports #privatization Aeropuerto Internacional de Tocumen Panamá VINCI Aena Fraport AG Zurich Airport Ltd Carolina Cárdenas García Claudia Kreussler Cámara de Comercio Suizo-Panameña | Swiss-Panamanian Chamber of Commerce Cámara de Comercio Franco-Panameña Pedro Heilbron Peter Cerdá ✈️ David Hernandez Felipe Escalona AHK Panama / Cámara de Comercio e Industria Panameña Alemana ICEX CCI France

An insightful article on strategic investing in the aviation sector. **Insights:** - Canadian investors acquired a majority share in Italy’s Parma airport 🇮🇹 - Centerline Airport Partners now holds a 51% stake in SOGEAP ✈️ - Focus on enhancing connectivity and customer experience 🙌 - Plans to expand destination network and attract international carriers 🗺️ - Emphasis on improving airport operations and services 🛫 Parenthetical statement: (Impressive strategic move by Canadian investors!) This strategic investment underscores the importance of global partnerships in enhancing infrastructure and services for communities. It's fascinating to see how international collaborations can drive operational excellence and customer satisfaction in the aviation industry. How do you think such investments impact regional economies? #AviationInvestment #InfrastructureDevelopment #GlobalPartnerships https://lnkd.in/gQrvzDbJ

VINCI acquires a 20% shareholding in the Budapest airport concession company and becomes the platform operator VINCI Airports a subsidiary of VINCI Concessions and Corvinus, an investment fund fully owned and managed by the Hungarian State, have jointly signed and closed the acquisition of the concessionaire of Budapest Liszt Ferenc International Airport from a consortium of sellers composed of AviAlliance, Malton and CDPQ. The value of the 100% transaction is €3.1 billion (equity value), plus net debt of €1.2 billion. Ebitda 2023 was €211 million. VINCI Airports and Corvinus purchased Budapest Airport on a pro rata basis and rolled over the existing debt of the company. The residual term of the concession is over 55 years (expiring in 2080). On completion of the transaction, Corvinus will own 80% of the concessionaire and VINCI Airports 20%. Capital of Hungary, Budapest is the country's key entry point for air mobility: its airport handles 96% of the country's air traffic. In 2023, traffic reached 90% of its pre-sanitary crisis level, while in the first four months of 2024 it exceeded 2019 traffic by more than 8% and 2023 traffic by 19%. The airport also has a positive outlook for the future, particularly in view of the development of tourism in the country. As the platform operator, VINCI Airports will manage the platform and deploy its model, which aims to improve the customer experience and support traffic growth through appropriate investment. An ambitious action plan will also be rolled out to achieve net zero emissions by 2030. Through this acquisition, VINCI Airports, which has operations in Portugal, the United Kingdom, France and Serbia, is reinforcing its network in Europe, which now covers 26 platforms handling nearly 154 million passengers in 2023. #VINCIgroup #VINCIAirports

The Brazilian airport concession process, which began in 2011, has come a long way since then, with many of the country's airports now under contract to a variety of mainly western operators, while in latter tranches more Brazilian companies came on board when the smaller airports became available (of which there are many). Along that road there have been successes and failures, economic crises, the COVID-19 pandemic, complaints about misinformation concerning traffic forecasts, and a handful of re-concessions. Now the second phase is being entered, one of maturity in the marketplace, in which concessionaires are being pressed for enhanced investment in the properties, and in some cases being offered a carrot to do so. Going hand-in-hand with that is a sudden and unexpected renewal of the procedure to offload even more of the small regional airports, those which are there for social rather the business or tourism purposes, and those that were expected to be managed by the state operator Infraero as its role changed. The seventh concession tranche was anticipated to be the one which wrapped up the process, but there is life in the old dog yet, as the government incentivises existing concessionaires to invest in these isolated airports - bundled up in groups of six like a fire sale - by dangling the attraction of an extension of the existing contract. Whether that will be enough to attract them is yet to be determined.

Amidst the closure of Atatürk Airport in 2019 and the subsequent near-complete halt in air traffic caused by the pandemic, TAV Airports faced significant financial strain with daily cash burn. Despite these challenges, TAV acquired its first and only perpetual airport investment in Almaty, Kazakhstan—a financial and industrial hub with growing natural tourism prospects. This investment presented an opportunity to expand TAV’s footprint in a new region. The HBR 2021 case study captured this critical juncture, highlighting the decision of whether to proceed quickly during peak uncertainty or risk missing out on a promising opportunity. The acquisition has now proven to be a strategic success for TAV Airports. Almaty International Airport serves as Kazakhstan's main international hub, connecting 26 passenger airlines and key trade routes between China and Europe. Despite the pandemic, Almaty Airport's operational performance has been robust, with a significant increase in passenger and cargo traffic. In 2023, the airport handled 9.5 million passengers, a 49% increase from 2019. The planned expansion, including the new international terminal, is set for completion and will more than double its capacity, positioning it for future growth. Almaty's strong financial performance significantly contributed to TAV's overall success, with Almaty alone generating €406.1 million in revenue and €88.1 million in EBITDA in 2023. This investment not only strengthens TAV's footprint in a new region but also underscores its resilience and strategic foresight. https://lnkd.in/dciueAZn #TAV #ALA #AlmatyInternationalAirport #AIA

Aeropuertos Argentina, the concessionaire managing 35 of Argentina's major airports, has announced a USD 500 million investment over the next four years. This initiative, funded through airport fees paid by passengers and airlines, is a joint effort with the government and aims to enhance airport infrastructure, focusing primarily on runway improvements and technological upgrades, with some projects also targeting passenger terminals. 📰 More details on this story in the next issue of the Momberger Airport Information newsletter. ➡️ Sign up for a free two-month trial here: https://lnkd.in/g8SjE2pp Please type "trial" in the user instructions window. #momberger #airports #airportdevelopment #airportoperations #infrastructure #airtransport #construction #ppp #3p #privatization #latinamerica#argentina #globaleconomy #aviationindustry Image credit: AirportHistory.org

San Miguel Corp, one of the largest diversified conglomerates in the Philippines, was recently awarded a 15 year concession to operate the Ninoy Aquino International Airport in Manila. NAIA is the largest airport in the Philippines and has been plagued by operational issues, with about 45 million passengers last year despite a capacity closer to 30 million. The government believes the private sector will be able to do a better job managing the airport, and under the terms of the concession SMC is required to invest around $1.5 billion in upgrades over the next 6 years, increasing passenger capacity to over 60 million. The revenue split with the government is also very generous, and much higher than competing bids. Paying for all of this will likely require price increases, on passengers as well as businesses and airlines that operate in the airport. The Philippines, moreso than most of its neighbors, has shown a willingness to turn critical infrastructure like power, water and now the largest airport in the country, over to private market actors. This can lead to better access and more efficient operations, but also tends to involve higher prices. In this case, given NAIA's poor reputation and the government's inability or unwillingness to invest in the necessary upgrades, it might be a trade-off worth making. https://lnkd.in/gNJisF5Z

Corporación América Airports (CAAP), a major private airport operator, reported a 4.2% decline in third-quarter 2024 revenues ex-IFRIC12 to USD 404.7 million, driven by weaker performance in Argentina but partially offset by resilience in Uruguay, Brazil, and Italy. Passenger traffic decreased 3.9% to 21.3 million, while cargo volumes grew 4.4% to 96.8 thousand tons. Adjusted EBITDA ex-IFRIC12 fell 15.9% year-over-year to USD 145.4 million, with a reduced EBITDA margin of 35.9% compared to 40.9% in 3Q23. The company maintained a strong cash position of USD 511 million and improved its net debt to EBITDA ratio to 0.9x from 1.4x at the end of 2023. 📰 More details on this story in the next issue of the Momberger Airport Information newsletter. ➡️ Sign up for a free two-month trial here: https://lnkd.in/g8SjE2pp Please type "trial" in the user instructions window. #momberger #airports #airportdevelopment #airportoperations #infrastructure #airtransport #construction #ppp #3p #privatization #globaleconomy #aviationindustry Image credit: CAAP

Changi Airport Group, a global leader in air travel, is set to enhance its status with the development of Terminal 5, offering significant opportunities for global and Swedish businesses. Here are key reasons why Swedish companies should note Changi Airport's expansion plans: • A Global Leader: Currently handling 90 million passengers annually, Changi Airport aims to enhance its role as a top regional hub through the new Terminal 5 project. • Substantial Investment: Undertaken by Changi Airport Group, the Civil Aviation Authority of Singapore, and the Ministry of Transport, this project is one of the largest infrastructure initiatives globally, with an estimated cost of 101 Billion SEK. • Increased Capacity: Upon completion in the mid-2030s, Terminal 5 will boost the airport’s capacity by an additional 50 million passengers per year. • Ongoing Opportunities: Tenders have been open since March and will continue as the project progresses, offering numerous opportunities for Swedish companies specializing in design, consultancy, construction, and installations. #FocusAsia #BusinessSweden #Singapore #Airport #Changi

Singapore's Changi Airport will invest S$3 billion ($2.26 billion) over the next six years to improve services such as baggage handling and check-in in at its terminals one through four, it said on Thursday. The airport will progressively raise airport charges between 2025 and 2030 to fund these investments and cater for higher operating costs. To help airlines with the transition, a 50% rebate on increases in landing, parking and aerobridge charges will be given for the first six months. Changi Airport said it will also increase passenger fees by about 1% or less for an economy class ticket on most flights departing from the city-state or connecting through it. https://lnkd.in/gaM8HjnU