Five companies interested in Viracopos International Airport concession

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Viracopos International Airport concessionaire Aeroportos Brasil stated that five companies are interested in buying the Viracopos airport concession. Located in Campinas, in the State of Sao Paulo, Viracopos airport is set to become one of Brazil's main international airports. The airport is experiencing a crisis that became worse in July 2017.

The sale of concession will solve the airports BRL 2.88 billion (US$ 0.73 billion) debt and prevent its bankruptcy.  The interested companies are Zurich Airport,  Infrared Consortium, the group Paris Airports,  Spain Aena, and CCR Group. Until now only Zurich Airport has effectively made a proposal to take control of Viracopos. Other companies are studying airports financial situation before making the proposal. 

Zurich Airport is proposing to extend the concession for another five years. This extension is one of the three changes in the original contract that is considered fundamental, together with the review of the investments; and the renegotiation of grants. Under the proposal, which provides for a contribution of at least BRL 100 million (US$ 25.51 million) in Viracopos, the private part of ABV (formed by Triunfo, UTC, and Egis, with 51%) would be converted into quotas of an investment fund (FIP) to be administered by IG4. The INFRAERO has 49% dealer.

The first general meeting of Viracopos creditors where the vote on the plan will take place is scheduled for May 16. According to the CEO of Viracopos the concessionaire´s priority is to approve the plan in the first general meeting and to continue operating the terminal.

Viracopos’ debts are divided into debts with banks (Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and four other private institutions) and debts with suppliers, as well as fixed and variable grants in 2017 and 2018, BRL 190 million (US$48 billion) each, that the concessionaire was required to pay to Anac – the 2019 installment is due in July.

Infraero holds 49 percent of Viracopos’ shares. The other 51 percent are divided between UTC Participações, Triunfo Participações and Egis. Triunfo and UTC are under investigation by Operation Lava Jato.

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