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MAp - Brussels Airport aeronautical charges agreement

Direct News Source

14-Jan-2011 MAp Chief Executive Officer, Ms Kerrie Mather, said “MAp welcomes the five-year aeronautical charges agreement at Brussels Airport which provides for an expected overall average annual charges increase of CPI + 1.43%.

This includes returns associated with the Pier A West project. The agreement is the result of an extensive consultation process between Brussels Airport and its airline partners encompassing facilities, service and charges. In addition, Brussels Airport worked closely with the State Secretary for Mobility to achieve ratification of the final agreement."

Key components of the agreement include:

- effective from 1 April 2011 to 31 March 2016;

- base annual aeronautical charges increase of 0.40% above the rate of inflation (CPI + 0.40%);

- provision for an additional annual average aeronautical charges increase of 0.28%1, implying an underlying annual average charges increase of CPI + 0.68%; and

- an additional return on capital expenditure on the Pier A West project equivalent to an annual average charges increase of 0.75%, taking the total forecast average annual charges increase to CPI + 1.43% over the five year period.

The ratified aeronautical charges agreement replaces the draft recommendation made by the Belgian Regulator that was disclosed to the market on 16 December 2010.

1 Average of 0.28% per annum linked to a minimum investment programme of €60 million over the five year period