The RIOGaleão consortium, formed by the Brazilian manager Vinci Compass and Changi, from Singapore, the Spanish company Aena and the Swiss company Zurich, submitted proposals for the Galeão renegotiation auction, which will take place on the 30th, at B3, in São Paulo. The delivery of the envelopes with the bids took place this Tuesday, also at B3.
The government hopes to raise R$1.5 billion from the auction. The minimum grant is R$932 million, according to the notice.
In the market, the participation of Aena and Zurich was taken for granted. Aena already has the concession for Congonhas airport, in São Paulo, and could create incentives for the Rio-São Paulo air bridge, one of the busiest routes in the country.
Zurich, on the other hand, already has an office in Rio. For it, the recovery of passenger movement at Galeão, in addition to the announcement of Gol as the company’s international base at that terminal, is also a new stimulus. Switzerland already manages the airports of Florianópolis, Vitória, Natal and Macaé (RJ).
Whoever wins the auction will have control of the airport’s operation, as Infraero’s 49% stake will be eliminated. In the RIOGaleão consortium, Vinci Compass became the controlling company after purchasing a stake in Changi. It currently owns 70% of RIOGaleão, while Changi holds 30%. If RIOGaleão maintains the concession, winning the auction, Vinci Compass will have an 85% share while Changi will have 15%.
The new winner will remain responsible for the operation until 2039.
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Galeão was part of the first rounds of airport concessions, in 2013, during the Dilma Rousseff government. With a minimum grant of R$4.8 billion, the terminal was purchased for R$19 billion by the consortium then formed by Odebrecht Transport and Changi. Infraero took 49% of the terminal, in the original rule.
Projections for passenger movement and revenue ended up being frustrated, and the grant offered was too expensive. In 2017, Changi purchased Odebrecht’s share of the business. The airport’s situation had worsened with the economic crisis and the pandemic made the situation worse.
Among the main changes in this renegotiation auction are the transformation of the fixed annual grant into a variable one, depending on the airport’s revenue, and the release of heavy investments, such as building a new runway.
