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Top 10 News-makers of the Month: October 2017

Modalis Infrastructure Partners Inc. share their monthly 'Top 10 news-makers of the month'.

Canada - YYZ (44.3m pax/yr) Oct 29/17 - Toronto-Pearson Sets Sights on Global Hub Status

With Canada’s Liberal government quietly pondering its privatization options for Canadian airports, Toronto’s Pearson International Airport appears keen to explore private-sector participation as it aspires to become the next global hub.  Key to this plan, the ambitious regional transit strategy aims to create a multimodal transportation hub with Pearson at its core.

Bermuda - BDA (1.0m pax/yr) Oct 27/17 - Aecon Acquired by China’s CCC Int’l Holding

Canada’s Aecon, prime contractor for the Bermuda airport PPP between the Government of Bermuda and the Canadian Commercial Corporation, will be acquired by Chinese conglomerate CCC International Holding, a subsidiary of China Communications Construction Co, for USD$1.5b, cash. Aecon say it will be “business as usual” going forward.

Chile - PMC (1.1m pax/yr) Oct 26/17 - Chile’s Tepual Airport Forges Ahead with Concession Bid

The concession bidding process for Puerto Montt El Tepual Airport is well underway, with competitive offers due by mid-Jan, and bids opened mid-Feb, 2018.  The successful proponent will be responsible for investing in expansion and upgrading of the airport, including investments to increase passenger capacity from 1.5m to 3.0m passengers/year.

India - COC 8.9m pax/yr) Oct 24/17 - India’s First Airport PPP Continues to Thrive

India’s first PPP-operated airport, Cochin International, has recorded another strong year of profit for FY-2016/17, driven by a 15.06% growth in passenger traffic. Under the company’s concession, the government holds an 32.42% stake in the venture.

Greece - 14 Regional Airports Oct 23/17 - Fraport Commits Critical Capital to Greek Regionals

Thanks to the country’s prolonged financial crisis and severe austerity measures, Greece’s airports suffered neglect and a trickle of capital investment. The Fraport concession of 14 regional Greek airports aims to turn this tide, with targeted investment in key areas of airport infrastructure including resurfacing of the runways at all 14 airports, starting with Myconos.

Mexico - ASUR Oct 21/17 - ASUR Sees Strong Passenger Growth Despite Storm

Grupo Aeroportuario del Sureste (ASUR) maintained its growth curve despite hurricane Maria, which severely impacted operations at Luis Munoz Marin Airport in San Juan, Puerto Rico, the group latest acquisition.  ASUR saw a third-quarter rise in passengers, due largely to the strong performance its Mexican network airports, with Cancun leading the way.

Colombia - Airplan & Aeropuertos Oriente Oct 20/17 - Mexico’s ASUR Acquires Colombian Airport Assets

The Mexican airport operator Aeropuertos del Sureste (ASUR) has received authorization from the Colombian authorities to acquire majority interest in operators Airplan and Aeropuertos Oriente.  The total ticket price is reported to be US$262m.

Iran - National Airport System Oct 15/17 - Iran Seeks Private Sector Capital for Airport Network

After decades of crippling sanctions, Iran’s civil aviation agency is reported to be seeking private sector partnerships to inject much-needed foreign capital into Iran’s network of 27 existing airports. VINCI Airports was the first mover back in early 2016, signing MOUs with the Iranian state for development and operation of Mashhad and Isfahan airports.

Lithuania - VIN/KUN/PLQ (~3.8m pax/yr) Oct 12/17 - New Lithuanian Gov’t Revisits Airport Privatization

With the Lithuanian airport concession process stalled since last year’s national elections, the new government recently struck a strategic committee to revisit plans for private sector involvement in Vilnius, Kaunas and Palanga airports. New to this latest effort is the consideration of a new greenfield airport.  The committee’s findings are expected in the end of Q1 2018.

Brazil - VCP (9.3m pax/yr) Oct 10/17 - Russia’s VTB Eyes Viracopos Concession

Following news back in August that the Viracopos concessionaire decided to relinquish its rights back to the government, Russia’s VTB Capital is reported to be pursuing an option to assume the concession.  Sluggish traffic growth in the wake of Brazil’s protracted political crisis and economic downturn have been cited the root cause of the hand-back.

Airport finance news GAD

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