IPO to help Paris airports fund €2.7bn upgrade-by Peggy Hollinger in Paris
Charles de Gaulle is the jewel in the crown of Aéroports de Paris, the French state-owned airport operator that is likely this week to launch its long-awaited IPO.
Standing in a control tower 150 feet above Paris's Roissy-Charles de Gaulle airport, the tangled web of rail, road and runway finally makes sense. Far below, a string of terminals sketches out an elegant figure of eight, above an underground rail station taking passengers across Europe almost from the departure gate.
The funds will go towards a €2.7bn investment programme to open new terminals, renovate old ones, boost retail space by a third and prepare for a near 4 per cent annual increase in passenger traffic to 2010. Luckily Mr Graff does not have to build expensive new runways at CDG to meet this demand, as others must do. Europe's only airport to have four parallel runways allowing simultaneous take-offs and landings, CDG has a significant advantage in flight volumes.
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