The future of Rome airport and the future of the Italian economy are intimately connected; airport systems contribute to a significant share of the national economy and are an important driver of employment development.
Sintonia SpA, the infrastructure holding company which holds a significant stake in Gemina SpA-Aeroporti di Roma, known as after 12 years of waiting, finally today the conditions are in place for the modernization and expansion of the most important Italian airport system. On 25 October 2012, the National Civil Aviation Authority (ENAC) and Aeroporti di Roma (ADR) signed the Convention - Planning Agreement, defining a regulatory framework in line with best international practice. However, the implementation of the investment plan is subject to approval with a Decree by the President of the Council of Ministers - on the proposal of the Minister of Infrastructure, in agreement with the Minister of the Economy - by 31 December 2012, as required by the current derogation legislation dating back to 2009.
Failure to approve within said term, set by law (Law No. 35 of 4 April 2012), leads to a paradoxical situation, since the new legislation on airport fees is inapplicable. The Transport Regulatory Authority has not been made operational (it should have been by May 2012), nor have the envisaged new tariff models been defined. Consequently, the company ADR will be thrown, indefinitely, into an unsustainable situation of regulatory, operational and financial uncertainty.
Sintonia, which participates in the parent company of ADR, Gemina - a company listed on the stock exchange - reiterates that the approval of the Convention - Planning Agreement by the deadline of December 31, 2012 cannot be postponed if the efficiency of the national airport system is to be protected and of its main hub. It must be noted that Rome's airport infrastructure is saturated and inadequate compared to current passenger traffic; during 2011, passenger traffic was, for about 40 days, higher than the maximum capacity of the airport, with serious risks for the continuity of the airport services offered.
These inefficiencies are inevitably destined to increase, with negative repercussions on the expected growth of traffic and on the country's image. It is sad to recall that Fiumicino airport today offers a significantly lower level of service than that of the main European capitals, in constant degradation deriving from the impossibility of launching the necessary investment plans. Furthermore, in the event of failure to approve the Agreement - ADR Planning Agreement by 31 December 2012, the Aeroporti di Roma company will be forced to definitively abandon the continuation of the only work currently under construction - Pier C - which would make it possible to increase , by 2016, the Fiumicino airport terminal capacity of 5 million passengers a year, through an investment of around 300 million Euros.
On the other hand, the approval of the Agreement - ADR Planning Agreement makes it possible to definitively remedy this dramatic situation, with the start of investments for 2,5 billion euros over the next ten years (destined for the expansion of the current terminal) as part of a plan for a total of 12 billion euros up to 2044, a plan drawn up with the contribution of the international partner Changi – Singapore airport. With the planned investments – financed entirely with private capital – the capacity of Fiumicino airport will be able to rise to over 100 million passengers; dimension necessary to satisfy the expected development of traffic in Rome, the natural hub of the Mediterranean as well as one of the main tourist destinations worldwide.
It must be underlined that the impact of the ADR project on employment can be measured in 30.000 new jobs in the next 10 years and a good 230.000 by the end of the works and that the new airport tariffs envisaged will be in line with what has recently been established for Milan airports (SEA). The investment project of Aeroporti di Roma, in which both Italian investors and qualified foreign investors have believed, constitutes – due to its relevance – an important test for Italy's credibility which, now more than ever, urgently needs adequate infrastructure and international capital for development.
Sintonia appeals to the highest Italian Authorities and to the Institutions involved so that the Agreement - ADR Planning Agreement is approved by the deadline of 31 December 2012.
