Press Release

VINCI Airports completes financing for Belgrade airport concession and takes over operations

 

21 Dec 2018 Last update at: 24 Dec 2018

VINCI Airports has satisfied all the conditions precedent in the contract and is officially taking over the concession at Nikola Tesla Airport in Belgrade

 

On 22 March, VINCI Airports signed a 25-year concession contract covering the airport’s financing, operation, maintenance, extension and upgrade, and stating the conditions precedent to its entree into force it has since satisfied.

 

To complete this transaction, VINCI Airports has raised loans amounting to a total of €420 million and maturing over a maximum of 17 years from 4 multilateral institutions – IFC (a member of the World Bank Group), EBRD (European Bank for Reconstruction and Development), Agence Française de Développement (via its subsidiary Proparco) and DEG (KfW Group) – and from 6 merchant banks (UniCredit, Intesa, Erste, Société Générale, Kommunalkredit and CIC).

 

The loans will complement the equity that VINCI Airports is investing in the operation and cover the €501 million upfront concession fee paid to the granting authority as well as the airport extension and upgrade works provided in the contract.

 

These financing arrangements constitute a milestone in Belgrade airport’s development, and one of the largest financial transactions ever carried out in Serbia.

 

When it officially takes over operations this 22 December, VINCI Airports will be in a position to leverage the expertise it has built as a world-class operator to grow Serbia’s main airport into a major hub for south-eastern Europe (it catered to 5.3 million passengers in 2017) and to drive its development.

 

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VINCI Airports signs the contract of Concession for Belgrade Airport

 

Nicolas Notebaert, President of VINCI Airports, and Serbia's Prime Minister, Ana Brnabić, have signed the 25-year concession agreement for Belgrade Nikola Tesla airport on March 22nd, 2018.

 

VINCI Airports has signed a 25-year concession agreement for the financing, development through construction and reconstruction, maintenance and management of infrastructure of Belgrade Nikola Tesla Airport. With around 5.3 million passengers welcomed in 2017, Belgrade Nikola Tesla in the capital of the Republic of Serbia is the country’s main airport, serving as the hub of Serbian flag carrier Air Serbia, which accounts for more than 50% of the airport’s passenger traffic.

 

From the signing of the Concession Agreement, starts a 6 months period during which VINCI Airports has to meet the Conditions Precedent detailed in the Concession Agreement, such as the signing and entry into force of the financing agreements. Once the Conditions Precedent met, the Concession will start.

 

Nicolas Notebaert, President of VINCI Airports, said: "We believe in the high potential of Belgrade as a leisure and business destination and we want to help the airport realise this potential." As concessionaire, VINCI Airports will aim at improving airport operating conditions to enable Air Serbia to offer new long-haul routes as part of its hub strategy. VINCI Airports will build on its partnerships with over 200 airlines to further increase the airport’s traffic and connectivity, in line with Serbia’s strong economic growth potential.

 

This success marks a new stage in VINCI Airports’ expansion outside France. Belgrade Nikola Tesla Airport will serve as the company's “hub” in Southeast Europe, a geographical area in which VINCI Airports has not operated until now.

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