Italy's SEA SpA, operator of Milan Malpensa and Linate airports, gained (10-Oct-2012) shareholder approval to revive a plan suspended more than a year ago to list its stock on the Milan Stock Exchange. The approval paves the way for a debut on the stock market by the end of the year. The IPO is expected to involve a 10.4% capital increase and the sale of a stake by the Milan provincial government, which has 14.6% of the company. The Milan City Council would retain control of SEA but would have its stake diluted to 48.1%. [more - original PR - Italian]
Milan Airports Operator SEA SpA receives approval for listing plan
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Labour productivity improvement remains crucial to the plan's success. The plan’s funding, and Alitalia's future growth, will be subject to trade union agreement to a new collective agreement and headcount reductions. However, the immediate union response was to call a strike after management presented the plan to employees. Surely this has to be the last chance.
Global airport construction review 1Q2017 – focus on Latin America and Africa
The annual airport construction overview report for 2017 focuses on Latin America and Africa, two regions that are often overlooked but which make their contribution to the global total of activity. One of them, Africa, is surprisingly strong in new airport construction, as long as the funding can be found, which is no easy task.
The total known global investment on airport projects continues to grow, and hovers close to the USD1 trillion mark; and with Asia Pacific the overall leader.
There are, however, anomalies, with some regions witnessing many projects but small investment figures, and vice versa. This report attempts to explain those anomalies while offering a breakdown of the biggest projects in each region.