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Portugal airport privatisation moving forward

29-May-2012

While neighbouring Spain has temporarily abandoned its attempt to privatise its two largest airports, Portugal's Government has selected four investment banks to oversee the privatisation of state airline TAP Portugal and the airport operator Aeroportos de Portugal SA (ANA).

The privatisation of the former will impact the latter, as potential bidders for TAP could, post-acquisition, look to partially disband the carrier's Portugese hubs in favour of concentrated operations at, say, Madrid, if International Airlines Group (IAG) bids and is successful. TAP's prime asset is its network into Brazil. Owing to TAP's position in effectively the last major European cities before reaching the Atlantic, TAP can conveniently collect traffic from across Europe to feed its Brazil (and increasingly African) flights. Madrid is not much further inland and would offer the same hub benefits as well as allow Iberia and TAP to consolidate their under-performing short-haul networks. Moving large amounts of TAP traffic out of Portugal is a dent in ANA's appeal. [2342 words]

Unlock the following content in this report:

Subheadings:

  • Slow progress
  • International investors can now be attracted
  • Brazilian prices too high?

Graphs and data:

  • Lisbon Portela Airport capacity by carrier (seats per week): 28-May-2012 to 03-Jun-2012
  • Lisbon Portela Airport network summary: 03-Jun-2012
  • Porto Airport capacity by carrier (seats per week): 28-May-2012 to 03-Jun-2012
  • Porto Airport network summary: 03-Jun-2012
  • Faro Airport capacity by carrier (seats per week): 28-May-2012 to 03-Jun-2012
  • Faro Airport network summary: 03-Jun-2012
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