investments & business oportunities - airport concessions

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1. Brazils Investment Plan in Logistics (PIL): 2nd Round AIRPORTS INVESTMENTS & BUSINESS OPORTUNITIES AIRPORTS CONCESSIONS New York 29 June, 2015 2. BRAZILIAN CIVIL AVIATION INSTITUTIONAL FRAMEWORK PRESIDENCY CIVIL 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). Public Airport Operator Tecnichal and Economic Regulation Supervision Military Aviation Air Navigation Services Provider and Regulator 3. PASSENGERS (MM) BRAZILIAN AIRPORTS 2004 2005 2006 2007 2008 2009 2012 20132010 20112003 2014 111 113 128 155 180 193 197 210 10296 83 71 Average annual growth rate: 10.4% (2003-2014) Expected annual growth rate for the next 20 years: 6% 4. BRAZILIANS 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 1 1 BRA 13 6 (Total Passengers/Population) 5. BRAZILIANS AIR SECTOR GROWTH POTENTIAL BRAZIL USA Population 200 million 315 million Total area 8.5 million km 9.3 million km Aircraft 460 5,190 Cities served 106 390 Pax per year 113 million 740 million BRAZIL USA 6. 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 7. 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 8. Fast-growing air transport demand Dynamic and competitive sector. Leading drivers: higher income and lower air ticket prices Air transport demand will keep growing Brazilian air transport is still expanding and all forecasts points at this direction 6% expected annual growth for the next 20 years Infrastructure supply doesnt match demand evolution 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 9. AIRPORT CONCESSIONS 2011 2012 2014 Natal (ASGA) Natal (BSB) Braslia (GRU) Guarulhos (VCP) Viracopos (GIG) Galeo (CNF) Confins Braslia Guarulhos Viracopos Galeo Confins Florianpolis Fortaleza Porto Alegre Salvador 2015/2016 (FLN) Florianpolis (FLZ) Fortaleza (SSA) Salvador (POA) Porto Alegre 10. PREVIOUS AIRPORT CONCESSIONS GREAT RESULTS Natal 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) Braslia Guarulhos Viracopos Galeo Confins 11. PREVIOUS AIRPORT CONCESSIONS GREAT RESULTS Natal Huge improvement in infrastructure capacity Increased service quality Happy passengers Growing traffic Upside in commercial revenues Braslia Guarulhos Viracopos Galeo Confins 12. AIRPORT CONCESSIONS FIRST RESULTS Guarulhos/SP International Airport new passenger terminal Capacity to receive 12 million passengers per year 13. AIRPORT CONCESSIONS FIRST RESULTS Guarulhos/SP International Airport new passenger terminal Area of 192,000 m 14. AIRPORT CONCESSIONS FIRST RESULTS Viracopos/SP International Airport new boarding bridges 28 boarding bridges and 7 remote stations 15. 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. 16. AIRPORT CONCESSIONS FIRST RESULTS Braslia/DF International Airport new pier and boarding bridges Total area of the Terminal: from 60 000 m to 110,000 m 17. AIRPORT CONCESSIONS FIRST RESULTS Braslia/DF International Airport new pier and boarding bridges From 13 to 29 boarding bridges 18. AIRPORT CONCESSIONS FIRST RESULTS New Natal/RN (So Gonalo do Amarante) International Airport passengers terminal Capacity to process up to 8 million passengers per year 19. SALVADOR/BA, PORTO ALEGRE/RS, FLORIANPOLIS/SC AND FORTALEZA/CE AIRPORTS CONCESSIONS 20. FEDERAL AIRPORT CONCESSIONS BASIC CONCEPTS Improve infrastructure capacity and quality Required service level (IATA Level C) Competition and benchmarking in airport operation OBJECT BOT Build, Operate and Transfer ATC is not included REVENUES Aero regulated Non-aero not regulated CAPEX Based on demand triggers and with initial investment obligations 21. REGULATORY ISSUES CHARGES DOM + INT Non cost-based model: BASIC RULES Price-cap model Annually adjusted by CPI Boarding fee Connecting fee Landing and Parking fees Cargo and Storage fees CONCESSION FEES Fixed fee (result of the bidding process) Percentage fee: share of the gross revenue annually paid to the Government BIDDING PROCESS The Auction takes place at BOVESPA (So Paulos Stock Exchange) Winner is the defined by the highest economic proposal 22. INTERNATIONAL AIRPORT SALVADOR 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 23. 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 15 20 25 30 Millions 24. INTERNATIONAL AIRPORT PORTO ALEGRE 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 25. 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 Millions 26. INTERNATIONAL AIRPORT FLORIANPOLIS 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 27. INTERNATIONAL AIRPORT FLORIANPOLIS 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) - 7 14 Millions 28. INTERNATIONAL AIRPORT FORTALEZA 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 29. 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) - Millions 5 10 15 20 25 30. CONCESSIONS DATA ROOM 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 Florianpolis, Fortaleza, Salvador and Porto Alegre. Information will be available in SACs website: www.aviacaocivil.gov.br 31. TIMETABLE SCHEDULE PROCESSS DAYS START END Execution / selection of Feasibility Studies 140 06/10/2015 10/28/2015 Approval in Brazilians Auditing 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 documents 30 02/15/2016 03/16/2016 Auction 47 03/16/2016 05/03/2016 TOTAL 327 32. Brazils Investment Plan in Logistics (PIL): 2nd Round AIRPORTS INVESTMENTS & BUSINESS OPORTUNITIES AIRPORTS CONCESSIONS concessoes2015@aviacaocivil.gov.br www.aviacaocivil.gov.br