Multiple bids lined up for Paris airport operator -sources

At least three consortiums have been formed to launch multibillion-euro bids for a stake in the operator of Paris Charles de Gaulle and Orly airports, among the first of France’s planned privatizations for 2019, three financial sources said.

The French state’s 50.6 percent stake in airports group Aeroports de Paris (ADP) is likely to go on the block next year in a deal that could be worth up to 10 billion euros ($11.4 billion), based on the current market capitalisation.

This privatization is part of President Emmanuel Macron’s plan to help to finance a 10 billion euro government fund aimed at supporting innovation projects. For now ADP, energy group Engie and lottery monopoly FDJ are the main companies targeted.

Three consortiums have been forming, people close to the matter said, identifying the lead player in each as U.S.-based fund Global Infrastructure Partners (GIP), French group Vinci and Australian fund IFM.

Milan-listed Atlantia has also been considering taking part in the ADP auction at the helm of a fourth consortium. However, such a plan could be thwarted by this week’s collapse of a motorway brigde in Genoa, which left 38 people dead, bankers and analysts said.

Atlantia may lack the funds if Italy imposes punitive measures against its Autostrade unit, operator of the collapsed bridge, and the group’s management could be too wrapped up in the Genoa aftermath to deal with new distractions.

Reuters reported in June that Vinci, which already holds an 8 percent stake and has made airport operation a core business, had approached pension funds to become partners, given the potential size of the asset.

It is unclear whether any fund has created a joint venture with Vinci.

The companies declined to comment or were not immediately available for comment.

INVESTOR RETURNS

One of the sources said that at least a dozen consortiums will participate in the first round of the auction, adding that each is expected to include one airport specialist or a that already has an airport portfolio.

Global infrastructure investors, Canadian and U.S. pension funds, large European insurers and Middle Eastern funds are also expected to bid, some as part of larger consortiums, the sources said.

European airports have achieved solid investor returns in recent years as they have benefited from increasing global travel and a rise in consumer spending at airport retail outlets, on-site hotels and car parking.

ADP owns its assets outright but the new law envisions the company being given a 70-year concession to operate them, with the state having the right to veto the sale of ADP assets, which are primarily real estate.

Source: New Stage

New concessions strategy to be implemented at Nashville International Airport

The Metropolitan Nashville Airport Authority (MNAA) board of commissioners has awarded a 10-year concessions contract to Fraport USA to improve the concessions experience via a new business model, which allows Nashville restaurateurs and retailers to independently operate and fully control their restaurants and shops at Nashville International Airport (BNA).

MNAA’s previous concessions model generally did not allow for independent, local ownership of the concessions and retail shops at BNA. The new model will feature ‘street pricing,’ meaning airport concessions will be priced at a level equivalent to what a passenger would find for the item at a similar location outside the airport.

The concession contract includes the design, construction, lease and management of approximately 69,000ft² (6,400m²) of concessions space throughout BNA. Fraport will lease space to local business owners who will independently manage their restaurants and shops.

A Dexter Samuels, chair of the MNAA board of commissioners, said, “From listening to our passengers and the community at large, it became clear that the time had come to reimagine BNA’s concessions program.

“After a careful and comprehensive planning, research and competitive bid process, Fraport was awarded the concessions contract and will implement a program that brings local restaurant owners and retailers to the airport that will truly transform our passengers’ experience.

“BNA will soon be home to some of the well-known names that put Nashville’s culinary scene on the map, as well as smaller, more diverse restaurants and shops that make Nashville distinctive.”

The new program is also designed to increase opportunities for disadvantaged businesses. MNAA has set a goal for 22.6% involvement of Airport Concessions Disadvantaged Business Enterprises (ACDBE), but the new concessions agreement will ultimately produce ACDBE participation of 40% over the life of the contract.

Doug Kreulen, president and CEO for MNAA, commented, “We want BNA to reflect our great city in every way possible, and we’re proud to say that this new concessions agreement will serve to create a more authentic Nashville experience at the airport.

“The moment you arrive at BNA, we want it clear that this is Music City, with the sights, sounds and tastes the Nashville brand implies. This new model will amplify the experience for travelers, while also providing new opportunities for chefs, restaurateurs and entrepreneurs of all kinds.”

Leasing and construction will begin February 1, 2019, with an anticipation of new restaurants and retail shops opening later the same year.

Source: Passenger Terminal Today

Aeropuerto de Madrid Barajas: convocado concurso oficinas de cambio de moneda extranjera en la T4 y TS4

AENA, operador español de los aeropuertos ha convocado con fecha de hoy el concurso para 7 ubicaciones de oficinas de cambio de moneda extranjera,  y otras operaciones financieras (devolución de IVA, transferencias de dinero, tarjetas de prepago y garantía de recompra) , en las terminales T4 y  Satélite 4 del aeropuerto Adolfo Suarez Madrid- Barajas.

El adjudicatario podrá colocar cajeros automáticos multidivisas al lado de las ubicaciones autorizadas.

La duración del contrato es por cuatro años con una prórroga de dos años (uno más uno) que debería autorizar AENA tras petición del adjudicatario. Ña actividad empezará no antes del 21 de noviembre de 2018.

La fianza provisional asciende a 1.561.093 euros, equivalente al 25% de la renta mínima garantizada del primer año.

El plazo de presentación de ofertas se cierra el día 10 de octubre.