ANA – Aeroportos de Portugal, the concessionaire of 10 airports in Portugal and 100% subsidiary of VINCI Airports, on January 8, 2019, signed an agreement with the Portuguese government on the main principles for the extension of the airport capacity in the Lisbon Region.

This agreement, which seals the consensus reached between the parties on the main technical, operational and financial assumptions of the project as well as the evolution of the future economic regulation, marks a major milestone for the expansion of Lisbon’s airport capacity. Its terms will be included in the addendum to the concession agreement, which should be signed in 2019, once the environmental authorizations have been obtained.

As part of the agreement signed, ANA shall invest 1.15 billion euros (US$ 1.28 billion) by 2028, including 650 millions (US$ 727.58 million) euros for the first phase of the extension of the existing Lisbon airport, and 500 million euros (US$ 559.67 million) for the opening of a new civil airport in Montijo. In addition, 156 million euros (US$ 174.62 million) will be invested to compensate the Air Force and to contribute to access works in Humberto Delgado and Montijo.

As initially set out by the Portuguese government, this large project will be entirely financed by the private sector, while ensuring that the competitiveness of the Lisbon hub will be maintained through a moderate evolution in airport charges.

This project contemplates a new dual system of airport infrastructures to serve the region of Lisbon enhancing the hub function of Humberto Delgado Airport through additional contact positions and reduced connecting times, and a point-to-point flexible, cost-effective and sustainable airport in Montijo, located near the city center (25 km) and offering a new generation terminal. Both airports will provide a modern and improved passenger experience. With a target capacity of 48 ATM per hour in Humberto Delgado and 24 ATM per hour in Montijo, this dual airport system will be able to absorb the expected growth of traffic until the end of the concession, which remains unchanged in 2062.