Flughafen Zürich AG wins Concessions for the Operation of Two Airports in Brazil
Flughafen Zürich AG was awarded the operation of the airports of Vitória und Macaé in the southeast of Brazil by way of a public tender. The airports handled a total of approximately 3.2 million passengers in 2018.
Flughafen Zürich AG has been operating airports in Brazil since 2014. The current portfolio includes a minority shareholding of the operating company of the international airport Confins in Belo Horizonte and the fully owned stake of the airport Hercilio Luz in Florianópolis.
After signing the concession agreement, which is scheduled for the second half of 2019, Flughafen Zürich AG will hold 100% of the two airports and operate them for a concession period of 30 years.
The investments associated with the expansion of the airports are expected to amount to roughly CHF 80 million in the first few years. In connection with the concession agreement, an upfront payment of BRL 437 million (around CHF 115 million) will be due. Additionally, Flughafen Zürich AG shall pay a yearly revenue based fee starting on the fifth anniversary of signing the concession agreement.
On group level, the newly acquired airports are expected to generate an incremental high single digit EBITDA in Swiss Francs starting in the year 2020.
With the new and existing concessions, Flughafen Zürich AG will participate in the growth of the Brazilian aviation market and will implement its best practices developed in Switzerland while maintaining the local values. Thereby, the mission is to offer the highest service quality to the passengers, airlines and other involved stakeholders.
Including the newly acquired airports, Flughafen Zürich AG is currently operating eight airports in Latin America. Besides four airports in Brazil and two in Chile, the airport operator is managing the airports in Bogotá and Curaçao.