United Kingdom – Dec 27/18 – VINCI Makes Bold Move to Acquire Controlling Interest in Gatwick Airport
In a surprise move, VINCI Airports announced its planned acquisition of a controlling interest (50.01%) in Gatwick Airport. The USD3.7b purchase from Abu Dhabi and Australian sovereign wealth funds will be financed by GBP-denominated debt. Global Infrastructure Partners will retain the remaining minority stake. With a passenger throughput of over 45m/year, Gatwick will be the busiest airport in VINCI’s rapidly growing global airport portfolio.
Saudi Arabia – Dec 26/18 – Re-concession of Jeddah Targeted for Latter Half of 2019
General Authority of Civil Aviation (GACA) is said to be readying for the re-concession of Jeddah’s King Abdul Aziz International Airport to a new private operator in the latter half of 2019. Back in February, GACA terminated the original concession with the Changi-led consortium for undisclosed reasons, however it is believed the local partner fell out of favor with Saudi leadership.
Philippines – Dec 24/18 – SMHC’s Unsolicited Bulacan Airport Proposal Gets Government Green Light
An agreement has been reached between the Department of Transportation and San Miguel Holdings Corp, for concession of the Bulacan International Airport. The USD14b unsolicited P3 proposal, with no government guarantees or subsidies, will include the construction, operation and maintenance of Bulacan, situated on a 2,500-hectare site.
Serbia – Dec 23/18 – VINCI Reaches Financial Close on Belgrade, Paving Way for Airport Improvements
On December 21, VINCI Airports paid a one-time EUR500m concession fee for Belgrade Airport paving the way for terminal and airfield improvements at the Serbian capital city airport. Capital works will include the construction of a temporary runway and taxiway for use while the existing runway is being rehabilitated, as well as upgrade/expansion of the existing terminals.
Kenya – Dec 22/18 – Kenya Airlines Proposal for Operations of Nairobi Airport Refloated
The Kenya Airlines (KQ) on-again, off-again proposal to take over operation of Nairobi’s Jomo Kenyatta Int’l Airport (JKIA) appears to be back on again. Kenya Airports Authority (KAA) confirms receipt of KQ’s application to manage JKIA. The proposal, which was floated and then later shelved earlier in the year, has gained renewed momentum. The proposal, structured under the country’s Public Private Partnership Act, is under KAA review to assess feasibility and commercial terms.
Croatia – Dec 20/18 – Zagreb Airport Looks to Refinance Project Under More Favourable Terms
MZLZ, the concession company operating and developing the Zagreb Int’l Airport, plans to refinance its existing loan “under more favourable conditions” subject to government approval. Under the terms of the concession, any renegotiation of financing arrangements requires grantor sign-off. The states will receive 33% of any benefit arising from the refinancing.
India – Dec 18/18 – Navi Mumbai Project Inches Forward Amid Community Angst Over School Closures
As the Nav Mumbai project inches forward, with initial acquisition of land now complete, the City and Industrial Development Corporation of Maharashtra Ltd. has set about the delicate task of relocating affected residents. Although most of the villagers have not moved out yet, some schools have already been closed, causing angst within the affected communities.
Brazil – Dec 15/18 – Belo Horizonte Airport Concessionaire Secures Critical Credit Facility
Concessionária do Aeroporto Internacional de Confins S.A., the concessionaire for Belo Horizonte Airport has secured a USD130m credit facility from Banco Nacional de Desarrollo Económico y Social. Founded in 2014, the special purpose company includes 25% shareholding by Zurich Airport Int’l AG.
Barbados – Dec 14/18 – Grantley Adams Int’l Airport Prepped for Concession in the New Year
The government of Barbados is considering the concession of Grantley Adams Int’l Airport (GAIA), which may also include share options for GAIA employees. The IFC, as grantor’s advisor, will guide the bid process and assist in attracting international operators and investors to compete for the project.
United States – Dec 13/18 – Munich Secures Right to Operate Newark Liberty’s New Terminal 1
The Port Authority of New York and New Jersey Board of Commissioners has approved Munich Airport International as the operator for the new USD2.7b Newark Liberty Terminal 1. The new terminal will replace the outdated and capacity-constrained Terminal A facility. Munich will take on Terminal 1 under a 15-year agreement, including operations and maintenance, as well as retail, food and beverage concessions.