OREANDA-NEWS. April 17, 2014. At a special signing ceremony, representatives of the Brazilian group CCR S.A., Zurich Airport and Munich Airport (FMG) finalized a cooperative agreement to operate Belo Horizonte Airport.

On the occasion of the privatization of Brazil's airports last year, FMG submitted a joint bid with the other two companies for the concession to operate the Brazilian airport Confins (CNF) in Belo Horizonte. The consortium was declared the winner of the auction on November 22, 2013.

The Brazilian construction group CCR holds a 75 percent stake in the consortium. FMG has the option of increasing its current 1 percent stake to 12.5 percent. This would mean that Zurich Airport and FMG would each hold half of the 25 percent stake available in addition to the Brazilian partner's interest. The FMG Supervisory Board is expected to make a final decision in June on the size of the stake to be held by the airport experts from Munich.

Starting in August, the consortium will assume overall responsibility for operating the airport in Belo Horizonte. For Thomas Weyer, FMG's CFO and head of infrastructure, the Brazilian undertaking is an important strategic initiative: "This is a fantastic step for FMG. By taking a stake in an airport outside Bavaria for the first time, we have the opportunity to apply our expertise in a highly attractive growth market."

Belo Horizonte, which opened in 1984, handled 10.2 million passengers last year, making it Brazil's fifth-largest airport. The new operators have a 30-year concession. During that period, traffic forecasts call for a more than four-fold increase in passenger numbers.

At present, the airport in Belo Horizonte has two passenger terminals, a cargo terminal, one runway and 24 aircraft park positions. To prepare the airport to handle the projected growth, the consortium plans to pursue an ambitious expansion plan in the coming years, including the construction of an additional passenger terminal and a second runway.