RioGaleão, the concessionaire of Rio de Janeiro’s Tom Jobim International Airport, signed an agreement with the federal government and the city of Rio to modify its concession contract for Rio de Janeiro’s Galeão (Tom Jobim) International Airport.

This follows RioGaleão’s 2022 request to return the concession due to financial challenges, which was reversed after negotiations mediated by Brazil’s public spending watchdog (TCU). The revised terms, approved by TCU in June 2025, ensure long-term management with high-quality services. Vinci Compass acquired part of Changi’s stake, increasing its share to 35.7%, while Changi’s dropped to 15.3%. Infraero retains 49% but plans to exit post-auction. The new ownership structure was approved by Brazil’s aviation regulator (ANAC) and antitrust authority (CADE). Vinci Compass and Changi are expected to bid jointly, though the auction will be open and competitive without preferential treatment. 

The deal stipulates an assisted sale auction for the concession in March 2026, with a minimum bid of BRL 932 million (US$174 million) and a variable payment of 20% of gross revenue through 2039. It also provides for Infraero, which owns 49% of the shares, to exit by March 2026. Additionally, the agreement removes the requirement to construct a third runway and establishes a compensation mechanism in case of operational restrictions at Rio de Janeiro’s Santos Dumont Airport.