investments & business oportunities - airport concessions
TRANSCRIPT
Brazil’s Investment Plan in Logistics (PIL): 2nd Round
AIRPORTS
INVESTMENTS & BUSINESS OPORTUNITIES
AIRPORTS CONCESSIONS
New York 29 June, 2015
– BRAZILIAN CIVIL AVIATION –
INSTITUTIONAL FRAMEWORK
PRESIDENCYCIVIL AVIATION SECRETARIAT
MIN. OF DEFENCE
INFRAERO ANAC
Independent Agency
Public Policy and Planning
Government Coordination
Airport Grants Plan
Manager of Brazilian Civil Aviation Fund (FNAC).
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Public Airport Operator
• Tecnichal and Economic Regulation
Supervision
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Military Aviation
Air Navigation Services Provider and Regulator
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– PASSENGERS (MM) –
BRAZILIAN AIRPORTS
2004 2005 2006 2007 2008 2009 2012 20132010 20112003 2014
111 113128
155
180193 197
210
1029683
71
Average annual growth rate:
10.4% (2003-2014)
Expected annual growth rate for the next 20 years: 6%
– BRAZILIAN’S AIR SECTOR –
PERFORMANCE
Flights x Population
Year 1995 2014
USA 2,00 2,35
BRA 0,12 0,54
World Rank(Total Passengers)
Year 1995 2014
USA 1º 1º
BRA 13º 6º
(Total Passengers/Population)
– BRAZILIAN’S AIR SECTOR –
GROWTH POTENTIAL
BRAZIL USA
Population 200 million 315 millionTotal area 8.5 million km² 9.3 million km²Aircraft 460 5,190Cities served 106 390Pax per year 113 million 740 million
BRAZIL USA
– EVOLUTION OF –
DOMESTIC AIRFARES
Source: ANAC
2002-2014*:
52% reduction in domestic airfares
(US$)
Exchange rate PTAX (jan/2015)R$ 2,69 = 1,00 US$
210,44
102,04
0,3357
0,1071
0,00
0,05
0,10
0,15
0,20
0,25
0,30
0,35
0,40
0,00
50,00
100,00
150,00
200,00
250,00
Real average domestic airfare
Yield real average domestic airfare
– AIRCRAFT CAPACITY –
UTILIZATION
2004 2005 2006 2007 2008 2009 2012 20132010 20112003 2014
68% 66% 66% 68%70% 73
76%80%
71%69%65%
60%
Load Factor - Domestic Market
Fast-growing air transport demand
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Dynamic and competitive sector.
Leading drivers: higher income and lower air ticket prices
Air transport demand will keep growing
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Brazilian air transport is still expanding and all forecasts points at this direction
6% expected annual growth for the next 20 years
Infrastructure supply doesn’t match demand evolution
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Infraero faces severe constraints as a public enterprise
Main airports already present operational bottlenecks
Few airlines in activity, especially in the regional market
– OVERVIEW OF –
AIR TRANSPORT IN BRAZIL
– AIRPORT –
CONCESSIONS
2011
2012
2014
Natal
(ASGA) Natal
(BSB) Brasília
(GRU) Guarulhos
(VCP) Viracopos
(GIG) Galeão
(CNF) Confins
Brasília
GuarulhosViracopos
Galeão
Confins
Florianópolis
Fortaleza
Porto Alegre
Salvador
2015/2016
(FLN) Florianópolis
(FLZ) Fortaleza
(SSA) Salvador
(POA) Porto Alegre
– PREVIOUS AIRPORT CONCESSIONS –
GREAT RESULTSNatal
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5 different consortiums
14 players in the auctions
Players from France, South Africa, Switzerland, Germany, Singapore, Spain, Argentina, USA, England…
Winning bids (combined): US$ 15.2 billion
Average Premium: 300%
Concession Lengths: 20 – 30 years.
Estimated Total Investments: US$ 8.67 billion
Over US$ 3 billions invested so far
Expected growth: 80 million (2011) – 270 million (2032)
Brasília
GuarulhosViracopos
Galeão
Confins
– PREVIOUS AIRPORT CONCESSIONS –
GREAT RESULTSNatal
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Huge improvement in infrastructure capacity
Increased service quality
Happy passengers
Growing traffic
Upside in commercial revenues
Brasília
GuarulhosViracopos
Galeão
Confins
– AIRPORT CONCESSIONS –
FIRST RESULTS
Guarulhos/SP International Airport – new passenger terminal
Capacity to receive 12 million passengers per year
– AIRPORT CONCESSIONS –
FIRST RESULTS
Guarulhos/SP International Airport – new passenger terminal
Area of 192,000 m²
– AIRPORT CONCESSIONS –
FIRST RESULTS
Viracopos/SP International Airport – new boarding bridges
28 boarding bridges and
7 remote stations
– AIRPORT CONCESSIONS –
FIRST RESULTS
Viracopos/SP International Airport – new boarding bridges
1,795% increase in the number of international passengers in the first 4 months of 2015 compared to 2014.
– AIRPORT CONCESSIONS –
FIRST RESULTS
Brasília/DF International Airport – new pier and boarding bridges
Total area of the Terminal:
from 60 000 m² to 110,000 m²
– AIRPORT CONCESSIONS –
FIRST RESULTS
Brasília/DF International Airport – new pier and boarding bridges
From 13 to 29 boarding bridges
– AIRPORT CONCESSIONS –
FIRST RESULTS
New Natal/RN (São Gonçalo do Amarante) International Airport – passengers terminal
Capacity to process up to
8 million passengers per year
SALVADOR/BA, PORTO ALEGRE/RS, FLORIANÓPOLIS/SC AND FORTALEZA/CE
AIRPORTS CONCESSIONS
FEDERAL AIRPORT CONCESSIONS
BASIC CONCEPTS
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Improve infrastructure capacity and quality
Required service level (IATA Level C)
Competition and benchmarking in airport operation
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BOT – Build, Operate and Transfer
ATC is not included
REVENUES•
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Aero → regulated
Non-aero → not regulated
CAPEX • Based on demand triggers and with initial investment obligations
REGULATORY ISSUES
CHARGESDOM + INT
Non cost-based model:
BASIC RULES
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Price-cap model
Annually adjusted by CPI
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Boarding fee
Connecting fee
Landing and Parking fees
Cargo and Storage fees
CONCESSION FEES•
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Fixed fee (result of the bidding process)
Percentage fee: share of the gross revenue annually paid to the Government
BIDDING PROCESS•
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The Auction takes place at BOVESPA (São Paulo’s Stock Exchange)
Winner is the defined by the highest economic proposal
– INTERNATIONAL AIRPORT–
SALVADOR
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8th busiest airport in the country and the first in the Northeast Region
Passengers Processed / Projected: 2014: 9.2 million/2044: 28 million
Preliminary Investment forecast: R$ 3 billion (US$ 1 billion)*
*Considering Exchange Rate: 1,00 US$ = R$ 3,00
– INTERNATIONAL AIRPORT–
SALVADOR
Total Passengers
Passenger Profile - 2014
International
Domestic
x 1,000 Pax
311
9,152
HISTORICAL: 9.27% p.y.
PROJECTED: 3.93% p.y.
28.21 (2044)
9.15 (2014) -
5
10
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20
25
30
Mill
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– INTERNATIONAL AIRPORT–
PORTO ALEGRE
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9th busiest Airport of the country and the first in the South Region
Passengers Processed / Projected: 2014: 8.4 million/2044: 27 million
Preliminary investment forecast: R$ 2.5 billion (US$ 833 million)*
*Considering Exchange Rate: 1,00 US$ = R$ 3,00
– INTERNATIONAL AIRPORT–
PORTO ALEGRE
Total Passengers
Passenger Profile - 2014
International
Domestic
x 1,000 Pax
614
7,833
HISTORICAL: 10.2% p.y.
PROJECTED: 4.01% p.y.
27.45 (2044)
8.45 (2014) -
5
10
15
20
25
30
Mill
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– INTERNATIONAL AIRPORT–
FLORIANÓPOLIS
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14th busiest Airport of the country and the third in the South Region
Passengers Processed / Projected: 2014: 3.6 million/2044: 11.6 million
Preliminary investment forecast: R$ 1.1 billion (US$ 367 million)*
*Considering Exchange Rate: 1,00 US$ = R$ 3,00
– INTERNATIONAL AIRPORT–
FLORIANÓPOLIS
Total Passengers
Passenger Profile - 2014
International
Domestic
x 1,000 Pax
173
3,460
HISTORICAL: 9.92% p.y.
PROJECTED: 3.95% p.y.
11.6 (2044)
3.6 (2014) -
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14
Mill
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– INTERNATIONAL AIRPORT–
FORTALEZA
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12th busiest Airport of the country and the 3rd in the Northeast Region
Passengers Processed / Projected: 2014: 6.5 Millions/2044: 21.8 Millions
Preliminary investment forecast : R$ 1.8 billion (US$ 600 millions)
*Considering Exchange Rate: 1,00 US$ = R$ 3,00
– INTERNATIONAL AIRPORT–
FORTALEZA
Total Passengers
Passenger Profile - 2014
International
Domestic
x 1,000 Pax
242
6.260
HISTORICAL: 12% p.y.
PROJECTED: 4.11% p.y.
21.8 (2044)
6.6 (2014) -
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– CONCESSIONS –
DATA ROOM
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Engineering plants, projects and studies;
Information about the airports IT systems;
Pictures and maps of the airports sites;
Current Master Plan;
Commercial and administrative contracts;
Information on human resources;
Operational and financial data;
Information on environmental requirements;
Information about judicial and administratives process underway;
Existing infrastructure.
From July 15th 2015, SAC will provide for the general public information and data on the airports of Florianópolis, Fortaleza, Salvador and Porto Alegre.
Information will be available in SAC’s website: www.aviacaocivil.gov.br
– TIMETABLE–
SCHEDULE
PROCESSS DAYS START END
Execution / selection of Feasibility Studies
140 06/10/2015 10/28/2015
Approval in Brazilian’sAuditing Court
45 10/28/2015 12/12/2015
Public Hearing 65 12/12/2015 02/15/2016
Approval of the final version of the bidding
documents30 02/15/2016 03/16/2016
Auction 47 03/16/2016 05/03/2016
TOTAL 327
Brazil’s Investment Plan in Logistics (PIL): 2nd Round
AIRPORTS
INVESTMENTS & BUSINESS OPORTUNITIES
AIRPORTS CONCESSIONS
www.aviacaocivil.gov.br