Costa Rica – Jun 20/17 – Costa Rica Unveils Ambitious Airport Development Plan
The Costa Rican government recently announced plans for a new USD$3.5b airport development with private sector participation. Located in Orotina, roughly 60km west of San José, the first stage of the project is targeted for completion by 2027 with an initial investment of USD$1.9b. Three additional phases are planned, with final completion by 2047.
United States – Jun 15/17 – New Private Sector Terminal Breaks Ground in Seattle
Propeller Airports, the private-sector investor, developer and operator of a new passenger terminal at Snohomish County Airport (aka Paine Field) in Seattle broke ground on the project earlier in the month. In related news, Alaska Airlines recently announced its plans to initiate commercial air service to Paine Field by fall 2018.
Peru – Jun 12/17 – Peru’s Chinchero Airport Greenfield Deal Terminated
Contrary to reports early in the year that President Kuczynski’s new government would uphold the previous government’s deal for private-sector development of the new US$590m Cusco – Machu Picchu greenfield airport, Peru’s Transport Minister has announced that the contract has been terminated by “mutual consent” of the parties, however terms were not disclosed.
India – Jun 11/17 – Fairfax Buys Up at Bangalore-Kempegowda Int’l Airport
Fairfax recently announced that it has secured terms for acquisition of a further 10% stake in Bangalore Int’ Airport from GVK’s wholly-owned Bangalore Airport SVP/subsidiary for a combined investment of ~USD$200m. Subject to the usual closing conditions and consents, the deal is expected to transact in July 2017, upon which Fairfax will hold 48% in the airport company.
Chile – Jun 09/17 – Zürich Concession of Iquique Diego Extended
Zürich Airport has been awarded an extension to its concession for operation and expansion of the Iquique Diego Aracena Airport (IQQ) in northern Chile. The revised contract provides an initial 18-year extension from 2018, with the potential for further extension up to 25 years, conditional on traffic volumes. IQQ is the 5th busiest in Chile with 1.2m annual passengers.
Puerto Rico – Jun 08/17 – ASUR & PSP Acquire Oaktree’s Share in Puerto Rico
Mexican operator ASUR, a JV partner in Aerostar Airport Holdings (Aerostar), operator of the Luis Muñoz Marín International Airport in San Juan Puerto Rico, and Canada’s PSP Investments, announced acquisition of Oaktree Capital’s 50% stake in Aerostar. ASUR increased its share from 50% to 60% with PSP acquiring the remaining 40% stake. Total ticket price US$430m.
Myanmar – Jun 06/17 – Myanmar Pursues Reforms to Stimulate Investment
In a drive to modernize its transportation infrastructure, Myanmar is pursuing transportation sector reforms under the banner “Myanmar: Moving Ahead” which includes public-private partnerships to expedite the programme. Key initiatives include the facilitation of private sector participation in the development of the Yangon and Mandalay international airports.
Guernsey – Jun 04/17 – Guernsey Explores PPP Model for Runway Extension
Guernsey’s Economic Development Committee is reported to be considering a public-private partnership to finance a runway extension for Guernsey airport. The proposed PPP has been added to a list of projects and is subject to a business case, to be complete by year-end. Under the proposal, the Guernsey runway would be extended from 1,463m to at least 1,706m.
United States – Jun 03/17 – AECOM Enters Fray for Kansas City Terminal Deal
Kansas City Council has received a request from AECOM to be considered for development of a new airport terminal at Kansas Airport. The request comes on the heels of an unsolicited proposal from Burns & McDonnell (B&M) two weeks earlier. The B&M offer proposes to privately finance a new $1b consolidated terminal, on the condition of exclusivity.
Liberia – Jun 01/17 – Liberia Eyes Cargo Concession for Roberts Airport
The Liberian government has put forward a proposal for concession for the Roberts International Airport to facilitate financing, design, operation and maintenance of a leading-edge cargo handling operation at the airport. If ratified, the concessionaire Global Logistics Services, a Liberian company, will work in collaboration with National Aviation Services of Kuwait.