Brazil's airport privatisations attract a host of would-be investors as the rush is on pre-2014

Investors have always kept an eye on events in Central and Southern America while operators like AENA, Flughafen Zurich, Copenhagen Airports and the late lamented TBI cut their teeth in what can be a challenging environment. After a series of successful and not so successful privatisations in and between Mexico and Argentina, some of which resulted in subsequent IPOs, the region dropped out of fashion with foreign firms for a while. But now, driven by events in Brazil, where the government is battling to have infrastructure in place for the forthcoming sporting events in 2014 and 2016, it is back in fashion. As a result it is attracting the attention of investors from across the world, including (and not for the first time) North America.

The first round of Brazilian privatisations (excepting a trial privatisation at São Gonçalo do Amarante airport in Natal province) was completed early in 2012 when the National Civil Aviation Agency (ANAC) moved swiftly to conclude the concession auction for three major airports, two in Sao Paulo and one in Brasilia. With the 2014 World Cup looming, less than two and half years away at the time, and the government having faced mounting criticism from many quarters as to its tardiness in resolving infrastructure issues, the swiftness was apposite.