The double win saw Fraport bid €446.81 million for the 30-year concession to operate and develop Fortaleza and around €114 million for the 25-year concession for Porto Alegre.
Along with the concession price, Fraport will pay a fixed fee amounting to 5% of the airport’s annual revenue.
Fraport will hold a 100% stake in the operating company of each gateway and and therefore will be the sole owner and participant in the concessions.
Due to the initial capital expenditure required at both airports, Fraport AG expects an increase in group net debt by up to €700 million during the first five years of the concessions.
Fraport AG's executive board chairman, Dr Stefan Schulte, enthuses: “We are excited about the concessions and look forward to soon starting working at Fortaleza and Porto Alegre airports.
"Using our extensive expertise, we are committed to further developing both airports markedly for the benefit of the Brazil.
"For our airline and passenger customers, we will quickly implement improved processes and services as well as attractive food and beverage offerings.”
Fortaleza’s Pinto Martins International Airport (FOR) is strategically located in the federal state of Ceará in the north eastern-most part of Brazil, which juts deep into the Atlantic Ocean.
With over four million inhabitants, the Fortaleza metropolitan region ranks sixth in the country.
The gateway handled 5.7 million passengers in 2016, making it the country’s twelve busiest airport.
Indeed, between 2005 to 2016, Fortaleza Airport registered a compound annual growth (CARG) of 6.8%.
The 5.3 square-kilometre airport site comprises one runway and one passenger terminal.
Porto Alegre’s Salgado Filho International Airport (POA) serves as the gateway to Brazil’s southern-most federal state of Rio Grande do Sul, which has a population of over 10 million people.
POA welcomed 7.6 million passengers in 2016, making it Brazil’s nineth largest airport by passenger traffic.
Between 2005 to 2016, the airport’s compound annual growth averaged 7.3%.
Comprising a total of 3.8 square kilometres, the airport has one runway and two passenger terminals.
Its Aeromóvel people-mover system provides a direct connection to the nearby Alegre Metro Airport Station where they can catch trains to downtown Porto Alegre and other cities across Brazil’s fifth most populated and its richest metropolis.