Modalis - Nov-22 - Airport Operators & Concessions - Global Market Update

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India - Nov. 30/22 - Government Temporarily Stalls Plans for Sale of AAI Shares in Four Busiest Airport Companies

In June 2021, it was reported that the Indian gov’t was preparing for sale of its minority stakes in Delhi, Mumbai, Hyderabad and Bangalore airports currently held through Airports Authority of India (AAI), as part for the govt’s asset monetisation programme. The majority stakeholders in the respective airport companies are expected to be granted rights of first refusal to buy out AAI’s stake before inviting public offers. In late Nov. 2022 it was reported that the gov’t has decided to temporarily defer the proposed sales.

Brazil - Nov. 29/22 - New Greenfield Airport Planned for Santa Cruz Cabrália Municipality

The concession plan for the new Costa do Descobrimento Int’l Airport was recently presented at the S?o Paulo Stock Exchange for national and international investors, which includes construction, operation, maintenance, administration and commercial exploitation of the new airport, to be located in the municipality of Santa Cruz Cabrália. The concession term will be 33 years, including five years of construction. The design capacity will be four million passengers/year at a total capital cost of BRL7.6b.

United States - Nov. 19/22 - JFK Millennium Partners Reach Financial Close for Terminal 6 Redevelopment

Vantage Airport Group and Corsair Infrastructure marked the successful financial close of its USD4.2b deal to develop JFK’s new Terminal 6 (T6). As the lead member of JFK Millennium Partners, Vantage will be the principal developer and operator of the new terminal, with Corsair serving as the project’s principal financial sponsor. Vantage will lead the construction of the new T6 facility in two phases, while managing the existing Terminal 7 until its demolition in 2025, as well as the new T6 from completion through to 2060, via a long-term lease with the Port Authority of New York and New Jersey.

Poland - Nov. 17/22 - Ambitious Multi-modal Transport Hub Plans in the Works for Warsaw ?

The Solidarity Transport Hub (STH), a new greenfield airport first announced by the Polish gov’t in 2017, is scheduled to be built by 2027 with a capacity of 40 million passengers/year in the first phase. The multi-modal hub will integrate air, rail and road transport modes. CPK, a Polish state–owned company established for the purpose of developing STH, is currently working to secure an financial infrastructure investor through a joint venture, to deliver and operate STH on completion.

Bangladesh - Nov. 10/22 – Government Requests Financial Assessment of Japan’s Proposed Investment in Dhaka

The Japan International Cooperation Agency has proposed to provide Bangladesh with USD3.3b in official development assistance to support further development of the Hazrat Shahjalal - Dhaka Int’l Airport (DAC). In response, the Civil Aviation Authority of Bangladesh has reportedly asked the Japanese gov’t to conduct a financial assessment to demonstrate how the proposed revenue sharing scheme with the Bangladesh state will be viable if Japanese interests are entrusted to operate DAC’s third terminal. ?

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