Our partner Thiago Araújo took part in an Estadão report on the airport sector, which has been attracting the market’s attention due to the investment opportunities that arise from contracts that are being renegotiated, such as the one for Rio de Janeiro International Airport (Galeão-Tom Jobim), or which include the intention of the current owner to leave, such as the sale of 20 terminals opened by Motiva (formerly CCR).

Another point that justifies interest in the sector is the federal government’s Private Investment Program in Regional Airports (AmpliAR), which aims to upgrade or build the equivalent of 100 regional airports in the country over the next five years.

According to the article, the renegotiations and re-bidding (the case of Viracopos Airport, in Campinas/SP) show weaknesses in the concession contracts from previous rounds, especially distortions related to demand, which ended up being lower than expected.

However, in Thiago’s opinion, the sector has matured since then: “The contracts, especially from the fifth round onwards, have undergone regulatory improvements. They are no longer so demanding in terms of investment in the early years and now have a variation in the grant,” he says.

With regard to AmpliAR, he is more skeptical and believes that “the market’s position, through public consultation, that it prefers individual auctions and not in blocks seems to indicate that there is no appetite for all of them”.

Read the full article here.