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Aéroports de Paris: Signature of the Economic Regulation Agreement

Direct News Source

26-Jul-2010 Aéroports de Paris signed the new Economic Regulation Agreement with the French government for the 2011-2015 period.

This comes as a result of a long period of preparation and a wide-ranging consultancy among the various stake-holding parties. This agreement follows on from the one signed in early 2006 and covers the major proposals put forward by Aéroports de Paris on 19 February 2010 in the public consultation document.

The publication of this document enabled the parties involved to express their comments to the government departments. The Airport Consultative Committee, as requested by the French government, provided its opinion on 4 May 2010.

The points of the new agreement are:

  • The introduction of ten ambitious service quality indicators, which may involve financial incentives in the form of bonuses and penalties, five of which directly relate to passenger satisfaction,
  • A €1.8 billion investment programme1 for the regulated scope mainly focussing on improving the oldest terminals, associated with financial incentives regarding the respect of major investments schedule,
  • A moderate pricing cap (average of 1.38% per year above inflation), alongside an adjustment clause to partially compensate for the difference noted in traffic.

The moderate fee policy is possible thanks to the continuation of efforts to improve productivity mainly through maintaining control over operating expenses.

This agreement takes into account an adjustment to the company's regulated scope, applicable from 1st January 2011, pursuant to a Decree dated 17 December 2009: as of this date, diversification real estate activities will no longer be included in the regulated scope (activities which do not relate to air cargo, ground-handling services, aircraft maintenance or general and commercial aviation), as well as commercial activities (relating to shops, restaurants, hotels, car hire, banking services, foreign exchange counters and advertising).