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Zurich, Aena Bid High to Win Brazil Airport Auction

  • Bids came in well above government’s initial ask price
  • Government to collect 2.4 billion reais in fees from auction
Updated on

Flughafen Zurich AG and Aena SME won concessions to operate airports in Brazil in an auction Friday. The tender was seen as a test of investors’ appetite toward President Jair Bolsonaro’s market-friendly agenda that includes a massive privatization plan.

Bids for the three regional blocks came in well above the initial ask, and the government will collect fees of some 2.4 billion reais ($630 million), about 10 times the minimum initial fee of 219 million reais. Infrastructure Minister Tarcisio Gomes de Freitas called the auction “a show of trust in Brazil,” adding that the auction was just one of the government’s initiatives to stimulate the sector.