Government gives thumbs up for Otopeni-Baneasa airports merger

The Government has backed the proposed merger of Otopeni – Baneasa airports, after the shareholders of the two airports nodded their agreements in the September meeting.

If it goes ahead, the deal will result in the creation of the National Company “Bucharest Airports”, that will be 80% under Ministry of Transportation’s portfolio. Property Fund will hold 20% equity in the newly-created company, a state secretary with the ministry said earlier today.

The share capital of the new company will hover near 143 million lei.

Tariceanu’s Cabinet had approved in March 2007, the merger of the two companies that administrate Henri Coanda and Aurel Vlaicu airports and the creation of the National Company “Bucharest Airports” SA, that will be listed at the stock market. The deal was aimed at creating a 1,400-hectares airport with a capacity of 20-25mln passengers per annum. Officials said at that time the merger would reduce global operating costs coupled and optimize workforce expenses.

The project has been published in the Official Gazette, but only few days after its publication, Utility Aviation opposed to the proposition, stating the project issued by the Ministry of Transportation included an 8.9hectares land parcel that is owned by the company.

In June 2008, former Minister of Transportation said the merger of the two airports had been called off in a legal settlement, the Ministry of Transportation following to appeal the court’s ruling and to move amendment to the current Ordinance on the inception of the Company.

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