Should Spain privatise its smaller airports first?

The change of government in Spain in Nov-2011 suspended the concession procedure for Madrid and Barcelona airports, the first stage in a procedure that would also have partly privatised AENA itself as well as offering concessions on smaller airports. Already some of the interested parties have stepped back, including Fraport, owing to the “difficult” market conditions that the newly-installed People’s Party (PP) had also recognised. With the new government due to resume its deliberations on where the concession procedure goes next, should it not now consider privatising one or more of Spain’s smaller airports first, to give some confidence to the market? [2834 words]

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This report contains the following subheadings:

• Unique opportunity to manage some of the largest airports in Europe
• Spanish economy on its knees
• Negative message
• Malaga faces no competition
• EUR2 billion investment potential
• Out in the cold
• ‘Plan Santiago’
• Concessions are for 3rd World Countries

This report contains the following charts and tables:

• Traffic growth at Malaga, Gran Canaria, Alicante and Tenerife South airports: 1992 to 2011 (est)
• Malaga Airport capacity (seats per week): 09-Jan-2012 to 15-Jan-2012
• Gran Canaria Airport capacity (seats per week): 09-Jan-2012 to 15-Jan-2012
• Alicante Airport capacity (seats per week): 09-Jan-2012 to 15-Jan-2012
• Tenerife South Airport capacity (seats per week): 09-Jan-2012 to 15-Jan-2012