Saturday, September 6, 2014

Fraport seals Ljubljana Airport deal

Fraport buys Ljubljana Airport and seeks 100% stake

German operator Fraport has reached an agreement for the purchase of a 75.5% stake of Ljubljana Jože Pučnik Airport yesterday, winning against strong international competition in a closed bidding process. Under the agreement, Fraport will pay 177.1 million euros for the majority stake. The acquisition will be financed from current liquid funds. As part of the privatisation process, Fraport intends to acquire 100% of the airport company valued at 234 million euros. Therefore, it will submit a takeover bid to the remaining shareholders, in accordance with legal and statutory requirements. Ljubljana Airport shares rose by 5.3% to sixty euros in trading on Friday, while Fraport was up 2%, following the takeover announcement.

Fraport CEO, Stefan Schulte, expressed his satisfaction with the expansion of the company’s international airport portfolio. “With Ljubljana, we are adding another airport investment with dynamic development potential. The choice for Fraport underscores our position as a leading global airport manager”, Mr. Schulte said. He added the company plans to expand passenger and cargo transport at Ljubljana Airport, increase profit and the number of employees, but gave no figures. "We are here as long term investors. We are looking for a long term development of Ljubljana Airport. The profitability of the airport is good and has no dilutive effect", Mr. Schulte told a press conference after signing the sales contract. Matthias Zieschang, Fraport’s Chief Financial Officer, added, “Our extensive know-how gained over many decades will enable us to further expand and strengthen Ljubljana’s competitive position - a real win-win situation for everyone involved”.


French concession and construction company, Vinci, yesterday requested a new round of negotiations on the sale after increasing its offer, but its proposal was rejected by the Slovenian Sovereign Holding, which has been managing Ljubljana Airport's privatisation process. Fraport, which also owns stakes in airports in Lima, Antalya, Varna and Burgas, among others, has been looking to extend its international operations and recently made its first foray into the United States with a deal to buy an airport retail management company. Ljubljana Airport handled 1.3 million passengers in 2013, earning a net profit of 5.2 million euros and recording revenue of some 31 million euros. It is one of fifteen state run companies that Slovenia's outgoing centre-left government had slated for privatisation last year and the third of them to be sold.

23 comments:

  1. Koliki je ex yu idijotizam modernih vremena. 230 miliona eura 100 % aerodroma. Da ga vidim ko ce ga napraviti od idejnog resenja do sertifikata nadlezne vazduhoplovne vlasti za te pare. Nema sanse, neracunajuci da se izboris na trzistu za milion i vise putnika.

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    1. @Aleksandar KuzmanovićSeptember 6, 2014 at 9:25 AM

      Nemam ideju kaj hoces reci, dali se ne slazes sa Ljubljanskim ZL da bila privatizirana ?

      Pa ova kompanija je ozbiljna kimpanija koja ima 20ak aerdorma u svom protfoliju, Frankfurt Airport je njihov Jewel in the Crown, ali to znaci da Ljubljanska ZL nece dibti uinvesticije, novi terminal kako je planirano i novi Control tower.

      $320 miljuna je prilicno puno novca za tako malu zracnu luku, tako da Fraport ye prllicno ozbiljan oko planvoa za Ljubljansku ZL. Ja mislim da si ljubomoran jer Ljubljana dibila takvu investiciju, i to je razlog za tvoj tako neugledan komentar, naravno ti is troll kaj se moglo ocekivati od tebe.



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    2. @ 2:32
      Aleksandar je upravu.
      Jako je teko izboriti se ;)
      INN

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    3. Hteo sam reci da se ne moze napraviti aerodrom od ideje do milion putnika godisnje za 230 miliona eura. I da se dzabe prodali. Ako realno vredi milijardu 3% godisnje profita od ukupne kapitalne vrednosti za sedam imaju 210 plus aerodrom u vlasnistvu uz normalan nivo odrzavanja kapitalne vrednosti.Zaklali su vola zbog snicle.
      Bio sam se zabrinuo da samo srbi imaju idijote na upravljackim pozicijama.
      Dobro je, ni neprijatelji nisu bolji.
      ;)

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    4. @Aleksandar KuzmanovićSeptember 6, 2014 at 2:50 PM

      Pa ni grade novi terminla, grade novi ACT, grade novi cargo terminal, kako vidim imaju planove da double putnicki broj na 2.5-3 miljuna do 2020 i naprave Ljunljanu u nekakav regional hub, gledajuci na fraport portfolio moze se zakjuciti da su ozbiljni.

      Niko ne investira 325 miljuna u neki aerodrom da nema ozbiljne planove, samo idiot bu potrosil tolike novce i ne dobije nesto od toga.

      Geldaj ovako, ako im ne ide po ruci onda u 10ak godina mogu prodat ovaj Aerodrom drzavi za frakciju cijene, mislim kako god gledas, Slovenska drzava je u dobiti.

      Do sada ZL Ljubljana kroz politicku manipulaciju ili komplicirani odnos drzave sa privatnim kapitalom je trpila, gubila novce kroz manje takse, sad kad je sve to jedan privatni investor onda Slovenska drzava moze izvaditi dobar proracunski novac koji je gurantor za buducvnost Slovenskog proracuna.

      NPR do sada Slovenija bi dobila oko ~6 miljuna eura iz tax zbog komliciranog vlasnickog odnosa i beneficja u tim odnosima, ali sa fraport Slovenija ce dobiti oko 9-10 miljuna eura minimalno, pa naravno kaj bi bilo bolje vise proracunskih novaca ide natrag u drzavu ili imas manje novca da ostane kako je.

      Gledaj za ZL Zagreb, koja je imala velike profite do 20010, ali kad je taj HDZ idiot uzeo ZL Zagreb onda je po prvi put Aerodrom gubio noavc, kako je to moguce?

      Naravo sada sa Francuskim co-vlasnicima, nema takvih gluposti, svi proracunski novice se placaju na vrijeme i vise se placa, jer Hrvatska Drzava nije pod pritiskom od politickih intervencija od strane stanka, HDZ u ovom slucaju.
































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  2. Excellent. 1 company less under governments control.

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    1. Isnt Slovene goverment good?

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  3. Good deal for Ljubljana I think. Interesting they will buy the whole 100%. It's not everyday a country agrees to sell all of its shares in such a large company. I wish them all the best.

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    1. Its not everyday a country sells something except it is nearly bancrupt.
      Slovenia can behappy that it got such a good price...
      Way too much money i think!

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  4. Will they build a new terminal?

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    1. They have not mentioned it... yet. I really hope so. I mean they will build it one day. They will own 100% and since it's not a concession they can do as they please and don't have a timeframe to do something.

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  5. Adria is next. So now the airport is owned by Germans and Adria is practically owned by Lufthansa.

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    1. So you think the Germans will buy Adria? I don't think so!

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    2. No way! They control it anyway. So why spend money to buy it?

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  6. da vidimo koliko je slovenija imati od tog ugovora... Ipak su nemci u pitanju, pre nego sto nesto kupe, preokrenu ga 10 puta! Ipak srecno,

    P:S Pridruzite se EXYUSPOTTERS
    https://www.facebook.com/pages/ExyuPlanespotters/251653228378221

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  7. OT
    Znali neko dali nece Aviolet mozda leteti za LOWI. :)
    Hvala unapred.
    INN

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  8. OT question for @Ex-yu aviation :

    5 days already since AF announced increase to double daily on their CDG-ZAG v.v. service, as well as introduction of AF own A319 equipment, unlike only HOP/Britair that operated till now, and no info here on not-that-insignificant news. Just wonder why?

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    1. He probably just forgot or waits for 100% confirmation. But it s definitely significant news and congrats to ZAG, slowly but surely they cope up

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  9. We all better wait for a confirmation about Air France flight(s). At this moment (Skyscanner, Air France booking engine, Croatia Airlines booking engine) all seem to indicate that there are 4 separate direct flights (no mention of "operated by the other company"). It seems very shady as x 4 daily flights is a drastic increase. Rumors say that this will be a code-share deal between AF and OU.

    In the end, if no significant frequency increase happens, I at least hope that both dailies will be with A319. That in itself is a decent increase in total seat capacity...

    This is all very strange...

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    1. Ja mislim da je to udarac od Etihada na CTN nadam se da razumete na sta mislim :)
      INN-NS

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    2. ne baš... kako misliš ? Kakve veze ima Etihad sa Air France, pogotovo ovdje u ZAG ? Hrvatska ima svoje tržište (zapadna europa gdje tržište prirodno gravitira, te istok kojemu ne gravitira ali je istok "underserved"). U području turizma, dobra je ideja pojačavati konekcija prema Dohi, Dubai (turisti s dalekog istoka koriste u ovom slučaju samo 1 presjedanje), a nešto putnika iz ZAG i ide prema istoku... Low Cost tržište je ono koje treba razvijati, a to će bit moguće kad se napravi malo bolja diferencijacija u aerodromskom proizvodu kako se nebi narušio postojeći legacy carrier business (tek kada se napravi novi terminal).

      Air Serbia je napravila i još neko vrijeme će raditi nered na avio tržištu (svaka čast, lijepo je Jat transformiran), ali dugoročno ZAG i BEG su 2 različita tržišta koja se u jednom dijelu preklapaju/bore za iste putnike (BiH, Makedonija, Slavonija...), ali ZAG kada se osnaži vratit će dio tih putnika. Sreća pa su Ljubljana i Sarajevo kao najbliži susjedi takva pušiona da ZAG tu ima razvojnu šansu...

      Mnogi Hrvati su putovali u Beograd kako bi lovili letove za bliski istok (Dubai npr.). Od ove zime će ih 6 novih frekvencija (3 x Doha direkt, 3 x Dubai direkt) motivirati da se ne drndaju u autu 3 sata do Beg... Dakle, hoću reći sve će polako doći na svoje... dugoročno.

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  10. Is it true that easyjet will suspend not only the rome flight but also the milan flight during march next year?

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