The Spanish Government has now announced the timetable and concession framework for the privatisation of Spain’s two largest airports, Madrid Barajas and Barcelona El Prat.
The airports operator AENA Aeropuertos (Aena) is now set to incorporate the companies managing each of the airports and to send all the necessary documentation to the Consulting Body on Privatisations, ahead of the launch of the bidding process on July 29th, 2011.
A timetable has been established setting out the requirements that will cover bid pre-qualification, the due diligence process, the scope of technical and economic offers and filings, and the award, scheduled for the end of November 2011 including a maximum three-month transitory period. The announcement has also set out the canons payable to AENA for each airport, as well as the ongoing annual payments. The proposed term of the concession agreements is 20 years, extendable by five years.