Schiphol ups stake in Brisbane Airport

[Pieter C. 5]

Schiphol Ups Stake In Brisbane Airport

 

October 17, 2008

Amsterdam airport operator Schiphol Group said on Friday it will increase its stake in Australia's Brisbane Airport by about 3 percent to 18.7 percent.

 

Schiphol, Europe's fifth-largest passenger airport, said it used its pre-emptive right to retain its relative stake in Brisbane Airport Corporation, which operates the airport.

 

"The business outlook for Brisbane Airport is positive," publicly-owned Schiphol said in a statement.

 

The Queensland state government told co-shareholders in August it intends to sell its 12.38 percent stake in the Brisbane airport for AUD$289.4 million.

 

Those shares will be bought by existing shareholders and besides Schiphol, Brisbane City also has pre-emptive rights over the stake.

 

Schiphol said Brisbane airport is investing in the extension of the domestic and international terminals, the construction of a parallel runway to be operational by the end of 2017 and other projects.

 

The Dutch government had planned to sell a minority stake of just under 50 percent in Schiphol Group, but the privatization was blocked by the city of Amsterdam, which owns 21.8 percent.

 

(Reuters)

 

[Pieter C. 5]

Paris, Amsterdam Airports Strike Alliance

 

October 21, 2008

Paris and Amsterdam airport authorities forged a cost-saving alliance on Tuesday and agreed to take an 8 percent cross-shareholding, driving up shares in state-controlled Aeroports de Paris.

 

The deal brings Europe's second and fifth-largest airport groups into step with a dual-hub regime already operated by their largest customer, Franco-Dutch Air France-KLM, and comes as the industry tightens its belt for a slowdown.

 

ADP, operator of Charles de Gaulle and Orly airports, and Amsterdam's Schiphol Group predicted annual revenue and cost synergies of EUR71 million euros (USD$94 million) by 2013 and said they expected to reduce capital expenditure by EUR18 million from the same year.

 

They said the deal would boost ADP's earnings per share from 2009 and Schiphol's earnings from 2010.

 

ADP last week announced a 3.6 percent drop in traffic in September and blamed the global financial crisis and weak global economy. Nine-month traffic was up 1.5 percent. ADP also revised its 2009 traffic forecast to "slight growth" from a previous target of 2-3.5 percent.

 

Analysts said the airport co-operation deal was the first of its kind and would extend the benefits of a 2004 merger between Air France and KLM to create Europe's biggest airline.

 

Under the deal ADP will buy 8 percent of Schiphol Group in a reserved share issue worth EUR370 million.

 

Schiphol will buy 8 percent of ADP from the French government for 67 euros a share, or EUR530 million, leaving the French government with just over 60 percent.

 

The price for ADP stock represents a 42 percent premium to ADP's previous closing price of 47.06 euros.

 

"This... makes industrial sense in our opinion as it will generate synergies with Air-France KLM, the main clients of the airports involved in the cooperation agreement," said Paris brokers Natixis Securities in a note.

 

Economy Minister Christine Lagarde said the French government would keep a majority of ADP's capital.

 

The deal appeared to narrow the options for French construction group Vinci, which has 3.3 percent of ADP and would like to buy more.

 

Schiphol and Charles de Gaulle airports were voted "most loved" and "most hated" airports, respectively, by Fodor's Travel Guides in 2007, though Paris is in the midst of rebuilding.

 

ADP, Schiphol, British operator BAA and Frankfurt's Fraport dominate European air traffic between them.

 

The new deal will run initially for 12 years, and the parties expect to complete it by end-November.

 

ADP is bidding for a stake in Prague Airport, but ADP chief executive Pierre Graff ruled out bidding for London's second airport, Gatwick, which BAA's owner Ferrovial is selling for competition reasons.

 

ADP's priority will be Skyteam airports, Graff told a news conference.

 

Schiphol last week raised its stake in Brisbane Airport by about 3 percent to 18.7 percent, citing the positive outlook for Brisbane. It also operates a terminal at New York's JFK airport.

 

The Dutch government abandoned the latest in a long-running series of proposals to privatize Schiphol Group last year after the city of Amsterdam blocked the sale of a minority stake.

 

Schiphol is 75.8 percent owned by the Dutch state, with 21.8 percent owned by Amsterdam and 2.4 percent by Rotterdam.

 

(Reuters)

 

[Pieter C. 5]

Amsterdam Airport Sees Drop In 2009 Traffic

 

January 5, 2009

Amsterdam airport operator Schiphol Group expects a sharp decline in passenger and cargo traffic in 2009 mainly as a result of the global financial crisis, it said on Monday.

 

In 2008 47.4 million passengers flew through the airport, 0.8 percent fewer than the previous year. Air transport movements dropped 1.8 percent to 428,350 and cargo traffic also declined by 1.4 percent to a total of 1.59 million tonnes.

 

"Nobody knows how long and deep the current recession will be," President Jos Nijhuis said in a statement, adding that the operator has had to reassess its strategy due to the worsening of the financial crisis at the end of 2008.

 

Schiphol also said that a new air passenger tax introduced on July 1 last year was contributing to the decline in passenger numbers.

 

Amsterdam's Schiphol is Europe's fifth-largest airport by passenger numbers and third-largest by freight volume.

 

(Reuters)

 

[Pieter C. 5]

Schiphol Airport To Cut Up To 25 Percent Workforce

 

January 27, 2009

Amsterdam airport operator Schiphol Group said on Tuesday it would cut 10 to 25 percent of its 2,200 workforce as a result of a strong decline in traffic and increased international competition.

 

"This staff reduction will be achieved through natural attrition, outsourcing and job cuts," Schiphol said in a statement.

 

Schiphol Group, which also holds stakes in Brisbane airport and in Terminal 4 of New York's John F Kennedy Airport, is the fifth-largest passenger airport in Europe.

 

It said earlier this month it expected a sharp decline in passenger and cargo traffic in 2009 mainly as a result of the global financial crisis.

 

In 2008, 47.4 million passengers used the airport, 0.8 percent fewer than the previous year. Air transport movements dropped 1.8 percent to 428,350 and cargo traffic also declined by 1.4 percent to a total of 1.59 million tonnes.

 

(Reuters)