Vinci Airports completes acquisition of two Kansai airports in JapanStaff writer ▼ | April 2, 2016
Vinci Airports takes over operation of the two Kansai’s region airports in Japan for a period of 44 years. This new acquisition is a major milestone in Vinci Airports’ international expansion.
Air traffic Vinci Airports enters the top five airports operators
The Kansai airports: annual traffic amounting to 38 million passengers in 2015
Under the concession contract signed on 15 December 2015, Kansai Airports company assumes responsibility for operating Kansai International and Osaka Itami airports as of Friday, 1 April 2016.
Kansai Airports’ shareholders are Vinci Airports (40%) and the Japanese ORIX Corporation (40%). Some 30 companies in the Kansai region will round out the group of shareholders (20%).
Opened in 1994, Kansai International Airport, located on an artificial island in Osaka Bay, handles annual traffic of 23.2 million passengers. Osaka Itami Airport, opened in 1939, is the main domestic airport for the City of Osaka, serving 14.5 million passengers annually.
The new concession company aims to make the most of the growth potential of the two airports, at which traffic increased by 11.4% in 2015. This growth is notably driven by the expansion of Japan’s tourist industry and the development of low cost airlines.
Kansai Airports will be able to build on Vinci Airports’ widely respected expertise and the ORIX Corporation’s strong roots in the Kansai region and expertise in financial services.
The financial closing for this concession totals about €2.1 billion (¥260 billion), of which €1.4 billion (¥180 billion) in bank debt and €640 million (¥80 billion) in equity provided by Kansai Airports’ shareholders. ■