Financing

In the vast majority of cases, the role of airport operator involves participating in the capital of airport companies for considerable amounts. It is often possible to divest a portion of the shares when the initial phase of the project that carries the construction and start-up risks has been completed. Obtaining the participation of investors during the response phase of the call for tenders, on the other hand, is an arduous exercise that can put a medium-sized operator in an unfavorable competitive position. In order to remedy this problem, a financial vehicle carrying the actions of the airports already managed was created and investors participating to this vehicle were identified. These were also asked to participate to the financing of new projects : the good performance of the airports managed to date serving as a reassurance for the investors. Their commitments to fund new projects will help the airport operator to position itself on larger platforms.