AENA launched a tender to select a strategic consultant to develop and implement of the new airport management model for Spanish airports (aerotendencias.com, 19-Feb-2011). The selected party will also advise AENA over the Spanish airport privatisation process, manage and coordinate the privatisation programme office, provide advice for the establishment of subsidiaries airport, support the recruitment of airport concessions. AENA plans to sell a 49% stake in 47 Spanish airports.
AENA to select consultant to aid in privatisation process
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AENA: Spain's airport operator must cut charges, but airline yields are already falling
After much delay, in late Jan-2017 the Spanish Council of Ministers approved the airport regulation document setting AENA's airport charges for the next five years. The headline numbers include a 2.2% annual decline in charges from 2017 to 2021, equivalent to an overall cut of 11% through the period.
The legal framework prevents tariff increases before 2025, but the outcome was in contrast with the Spanish airport group's own proposal to freeze charges. Strong traffic growth of 11% to an all time high level of 230 million passengers in 2016 may have influenced the regulator's decision.
In response, AENA has decided to remove an incentive mechanism which rewards airlines for traffic growth with airport charge discounts. The removal of discounts is estimated to offset the 11% reduction by one third.
In fact, this discount scheme has been quite effective in stimulating traffic growth in recent years. However, traffic growth in Spain was also boosted in 2016 by high airline capacity growth switched from other (risk) markets. Airline yield declines are probably noticeably heavier than AENA's regulated price reduction.
Global Airport Development Conference report: Trump, Brexit, pipelines and PPPs. Part 2
This report on the Global Airport Development Conference held in Lisbon on 29-Nov to 01-Dec-2016 covers the proceedings of Day 2 of the event.