Modalis Infrastructure Partners Inc. share their 'Top 10 news-makers of the month' on airport development around the globe.
India - greenfield airport
Dec 29/17 - India’s Maharashtra’s Gov’t Approves Nagpur Airport
The regional Maharashtra government of western India has approved the development of the Nagpur airport as Public Private Partnership (PPP) for a 60-year term. The new greenfield airport will include two runways and passenger terminal, as well as cargo and commercial facilities. The longest runway will be 4,000 meters long to facilitate cargo and military operations.
Jamaica - MBJ (~3.9m pax/yr)
Dec 27/17 - MBJ Shareholders Commit Another USD40m in Capital
As MBJ Airports reaches the mid-point of its 30-year concession for development and operation of the Sangster Int’l Airport in Montego Bay, its private investors have committed an extra USD40m in capital to revamp the check-in hall, immigration and general public areas, which is above and beyond the USD24m currently being invested into the apron, taxiway and runway.
Jordan - AMM (~7.4m pax/yr)
Dec 26/17 - AdP to Assume Control of Queen Alia Concession
ADP is poised to take a majority stake in Airport International Group, the project company with rights for development and operation of Jordan’s Queen Alia Int’l Airport. The deal, first announced at GAD World - Paris in November, is reported to be worth US$267m. Co-investors Meridiam, ASMA Capital Partners and current Jordanian shareholder Edgo will hold the minority.
Maldives - greenfield airport
Dec 24/17 - Maldives’ Beleaguered Maafaru Project Reassigned
The Maafaru airport project, hampered by repeated delays, has been handed over to Sun Siyam Resorts (SSR) under a public-private partnership. SSR is owned by national politician Ahmed Siyam. The works, slated for completion within two years, include an 1,800 meter runway and ramp parking for up to six commercial aircraft. The project was initially awarded to Millennium Capital owned by Hamid Ismail, the uncle of now incarcerated former vice president Ahmed Adeeb.
Croatia - ZAG (~3.0m pax/yr)
Dec 22/17 - Zagreb Airport Breaks the 3m Passenger Mark
Zagreb Airport (ZAG) broke the 3 million passenger milestone for the first time, continuing its trend of steady traffic growth. The new passenger terminal, opening late last year, has designed capacity of 5 million passengers/year. ZAG is operated under a 30-year concession with a private consortium including AdP, Bouygues, Fond Marguerite, IFC, TAV and Viadukt.
Germany - BER - greenfield airport
Dec 21/17 - Brandenburg Nearing End of Long, Painful Journey
The controversy-ridden Brandenburg-Berlin Airport (BER) is now set to open in the fall of 2020, a full nine years after its initially targeted completion date. Beset by a host of planning delays and technical problems since its conception over 25 years ago, BER has become a huge national embarrassment and a cautionary tale of failed project planning and execution.
France - LYS (~10.0m pax/yr)
Dec 19/17 - Lyon Celebrates 10m Passenger Milestone
Lyon-Saint Exupéry Airport (LYS) recently celebrated a major traffic milestone, welcoming over 10m passengers in 2017—a record for the recently privatized airport. In 2016, the French state awarded a 60% stake in LYS to the consortium of VINCI, Caisse des Depots et Consignations and Predica (Credit Agricole's insurance unit).
Argentina - 51 airports - LATAM/Europe
Dec 17/17 - Corporación América Airports Going Public
Argentina’s Corporación América Airports (CAA) is in the midst of issuing a US100m IPO, however pundits suggest it could actually attract up to USD1b in new capital. CAA operates the largest number of airports in the world, totaling 51 including 33 in its native Argentina with the balance located in Brazil, Armenia, Ecuador, Italy, Peru and Uruguay.
Colombia - MDE (~7.7m pa/yr)
Dec 15/17 - Airplan Inaugurates Latest Expansion in Medellin
Airplan, operator of Medellin’s José María Córdova Airport (MDE), recently inaugurated the next phase of terminal capacity expansion. The US$117m project included five new domestic aircraft parking stands and three new positions in the international terminal. In related news, Mexico’s ASUR is in the process of acquiring a majority stake in Airplan and Aeropuertos Oriente for a total ticket price to US$262m.
United States - CBX (2.0m pax/yr)
Dec 12/17 - CBX Marks its Second Year of Cross Border Operations
The Cross Border Xpress (CBX) terminal, located just outside of San Diego, California, marked its second year of operations in December, having handled roughly two million passengers in 2017. CBX travelers making their journey to/from Tijuana Airport (TIJ) across two 390-foot pedestrian bridges spanning the US-Mexico border wall pay USD30 per round trip for the convenience.