VINCI signed (21-Feb-2013) the contract acquiring ANA Aeroportos de Portugal, the former state-owned airport operator which holds a 50-year concession for 10 airports in Portugal, for EUR3.08 billion. The transfer of ANA shares will take place upon approval by the relevant competition authorities. The contract also gives ANA exclusive rights to negotiate the construction and operation of Lisbon's new airport, once capacity at Lisbon Portela Airport is saturated. VINCI stated, "This transaction is in line with VINCI's strategy of making VINCI Airports a leading international player in airport concessions. With this acquisition, the company will be managing 23 airports in Portugal, France and Cambodia, handling more than 40 million passengers a year and including a European hub with over 15 million passengers. Total revenue will exceed EUR600 million, for EBITDA of around EUR270 million." Portugal's Finance Minister Vitor Gaspar stated, "It is the Government's firm belief that the two companies [VINCI and ANA] will explore powerful synergies in Portugal and abroad, that will create value and reinforce ANA's strategic role." On the rationale behind the selection of VINCI, Mr Gaspar said, "Price, however attractive, was not the single criteria that determined the Government's choice for VINCI's proposal...the quality of the strategic proposal offered by VINCI was also very important...Vinci is firmly committed to strengthen the capacity of the Lisbon Airport hub as a fundamental link between Portugal, Europe, Africa and South America, as well as to develop the Portuguese airport network." Mr Gaspar added, "ANA will be the flagship of VINCI Airport's business to achieve its long term strategy." Portugal's Economy Minister Álvaro Santos Pereira said, "The result [of the privatisation] is very good and demonstrates very clearly that Portugal is a country that has the confidence of international investors." Meanwhile, VINCI Concessions CEO Roch Burgard said it paid "fair value" for ANA, stating, "We valued the present value and future value of ANA, which we see as a strategic tool for our development" (Bloomberg, 22-Feb-2013). [more - original PR - Vinci] [more - original PR - Finance Minister Speech] [more - original PR - Portuguese Government - Portuguese]
VINCI signs contract acquiring ANA Aeroportos de Portugal; committed to Lisbon hub
You may also be interested in the following articles...
Airport pairs: Western Europe-US shows the value of open skies as routes and new entry proliferate
For Western Europe there is no bigger long haul market than North America. In terms of the number of airport pairs between the countries of Western Europe and long haul destination countries, connectivity to the United States dominates. There are more direct routes between Western Europe and the US than there are between Western Europe and the whole of Asia Pacific.
This report presents high level data on the numbers of airport pairs between each Western European country and the US and how these number have changed. EU-US liberalisation in 2008 has stimulated growth in the number of direct connections, although the global economic downturn impeded this for a while. However, the additional routes have not been spread evenly across Western European countries.
Since 2010, additional route numbers from Western Europe to the US have been greatest from the largest markets – the UK and the US – and from the smaller countries, particularly Ireland, Iceland and Norway. Countries in between, including France, Italy, Spain and the Netherlands, have hardly added any new US routes at all.
Taiwan's China Airlines considers Airbus order as a means to winning French traffic rights
China Airlines is weighing an order for Airbus aircraft that it expects will result in the French state granting traffic rights to allow China Airlines to fly to Paris, providing competition to China Airlines' local competitor EVA Air – the only nonstop operator on the route.
Since a 2016 government change in Taiwan, China Airlines – long a sleepy government airline – has shown greater interest in growth. However, Europe is not a strong market for the airline. In Paris there is opportunity to work with fellow SkyTeam member Air France. This potentially makes Paris less costly for China Airlines than its planned resumption of service to London.
China Airlines is once again planning a narrowbody order to replace and supplement its existing 737-800 fleet. The order will reflect how optimistic China Airlines is about the turbulent cross-strait market.
The A320neo is favoured, and it is unclear whether an order might also mean that China Airlines exercises its six options for the A350. China Airlines has received five of a 2008 order for 14 A350s. The correlation between Airbus aircraft orders and French traffic rights is sensitive, but this is hardly the first example. Taiwan and the US, home to Boeing, have an open skies agreement.