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Italian airports shrug off national debt concerns

24-Nov-2011

With Italy becoming the latest, and largest, country to be beset by national debt issues (though Spain and even France are hovering in the wings) and a rising cost of borrowing, one might expect its airports to be losing both traffic and money. In fact that is not the case by any means and the city of Milan has decided to press ahead with its sale of a stake in airport operator SEA.

A ‘technocrat’, the academic Mario Monti, was sworn in as Prime Minister on 16-Nov-2011 following the resignation of Silvio Berlusconi, unveiling a similarly ‘technocratic’ cabinet on the same day and appointing himself Minister of Economy and Finance. The government is expected to stay in power until the next round of elections, due in 2013, and will determine the macroeconomic policies that will influence the performance of both publicly and privately owned Italian airports alike. [1580 words]

Unlock the following content in this report:

Subheadings:

  • High degree of personal wealth
  • EUR50 million investment
  • SAVE’s airport division slightly outperforms rail
  • SEA IPO still on target

Graphs and data:

  • Gemina financial highlights (three months ended 30-Sep-2011; in EUR million)
  • Gemina’s Fiumicino Airport Rome, capacity by carrier (week commencing 21-Nov-2011)
  • Gemina’s Ciampino Airport Rome, capacity by carrier (week commencing 21-Nov-2011)
  • SAVE Group financial highlights (three months ended 30-Sep-2011; in EUR million)
  • Venice Marco Polo Airport, capacity by carrier (week commencing 21-Nov-2011)
  • Table. Societa Aeroporto Toscano financial highlights three months ended 30-Sep-2011. (All financial figures EUR million)
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