Brazilian airport concession scheme: contract revisions requested

Premium Analysis

The Brazilian airport concession scheme, which now runs to seven actual or planned tranches and has shifted from the 'steak' of airports in big cities like Rio de Janeiro, São Paulo and Belo Horizonte to the 'bone' of much smaller ones, is eight years old.

By and large the scheme can be considered a success, and it helped revitalise many airports, some of them in time for the World Cup and the Olympic Games, which was the requirement.

But with the Brazilian economy having struggled in a way that was not envisaged when the process began, some of the operators have not been able to pay concession fees and have found passenger traffic and freight volumes falling, which has seriously impacted the bottom line. Some have had to consider surrendering their concessions altogether.

So far there are two such cases, with a third looming.

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