Regulatory News:

  • A commitment in favour of a decisive improvement in service quality
  • An investment programme focussing among other things on renovating the oldest terminals
  • A fee moderation policy thanks to the pursuit of productivity gains and continued improvements in operational performance

Aéroports de Paris (Paris:ADP) (Pink Sheets:AEOPF) 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).

The Economic Regulation Agreement 2011-2015 can be viewed on the Group’s website: www.aeroportsdeparis.fr

1 2010 Euros, excluding financial investments. The planned investment programme for Aéroports de Paris amounts to €2.4 billion.

Aéroports de ParisRegistered office: 291, boulevard Raspail, 75014 ParisPublic limited company with share capital of €296,881,806552 016 628 RCS Paris

Aéroports de Paris builds, develops and manages airports including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. With 83.0 million passengers handled in 2009, Aéroports de Paris is Europe's second-largest airport group in terms of passenger traffic and the European leader for freight and mail.

With an exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernizing its terminal facilities and upgrading quality of services, and also intends to develop its retail and real estate business. In 2009, Aéroports de Paris had revenue of €2,633,4 million, and a net income of €270 million.

Automatic Data Processing (TG:ADP)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Automatic Data Processing Charts.
Automatic Data Processing (TG:ADP)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Automatic Data Processing Charts.