Flughafen Zürich AG wins Concession in Brazil

Ad hoc announcement pursuant to Art. 53 LR


Flughafen Zürich AG was awarded the operation of Natal Airport (IATA: NAT) in the northeast of Brazil by way of a public tender. The airport handled approximately 2.3 million passengers in 2022.

Natal is the capital of the state of Rio Grande do Norte. The region benefits from strong national and international tourism and is increasingly characterized by a significant commitment to renewable energies and agricultural products.

The newly acquired Natal Airport optimally complements the existing portfolio of Flughafen Zürich AG in Brazil – consisting of the majority holdings in Florianópolis, Vitória and Macaé – and enables the use of synergies.

After signing the concession agreement, which is scheduled for the end of 2023, Flughafen Zürich AG will hold 100% of the airport and operate it for a concession period of 30 years. No expansion investments (growth CAPEX) are required during the concession period and only minor replacement investments (maintenance CAPEX) are pending. The airport currently has a capacity of around 6.5 million passengers per year. In connection with the concession agreement, an upfront payment of BRL 320 million (approximately CHF 58 million) will be due. Additionally, Flughafen Zürich AG shall pay a yearly revenue-based fee starting on the fifth anniversary of signing the concession agreement.

After taking over operational responsibility, which is expected for the beginning of 2024, Flughafen Zürich AG estimates an additional EBITDA contribution in the high single-digit million range in Swiss francs (CHF) at group level.

With the new and existing concessions, Flughafen Zürich AG will participate in the growth of the Brazilian aviation market and will implement its best practices developed in Switzerland while maintaining local values.