The Task
AENA Desarrollo Internacional, a subsidiary of AENA, the largest airport operator in the world by passenger volume, requested that we carry out commercial due diligence, develop terminal layouts, and build a revenue forecast model for a bid for the SP-MS-PA-MG Cluster in the 7th airport concession round in Brazil. The cluster comprises 11 airports, including Congonhas Airport in São Paulo.
Our Approach
Our team conducted site visits, held meetings with current and potential operators, reviewed available financial, contractual, and operational data thoroughly, and conducted an extended benchmark. We also performed in-depth due diligence on various aspects of the commercial operation at the airports to identify critical opportunities and risks.
Our experts defined optimal areas for the entire concession period for commercial in-terminal businesses and external areas, including real estate opportunities. We then created design guidelines for new and existing terminals and identified other revenue-enhancing measures, such as new revenue streams and business models, to maximise revenue generation.
We developed a detailed revenue forecast for each airport, indicating sales and revenue per passenger and business line. This allowed for sensitivity analysis of different CAPEX options, resulting in a comprehensive and accurate revenue forecast model.
The Result
AENA Desarrolo Internacional won the bid for the SP-MS-PA-MG Cluster, which comprises 11 airports, and emerged as the largest airport operator in Brazil, with 17 airports under management.