Brescia Airport Management Restructuring and Strategic Growth Plans
The management company of Brescia’s airport was officially established yesterday: the Board of Directors will have a Brescia presidency, but the majority will be from Verona. The assembly of Catullo Spa, which manages the Garda Airports, approved, with the dissenting vote of the Comune di Verona (holding 6.85% of the shares) and the abstention of the Provincia di Vicenza, the 1999 financial statements and the spin-off of the Brescia airport branch. The balance sheet closes with a loss of 2.241 billion lira (compared to a profit of 2.355 billion lira the previous year), which is the final effect of a net profit of 6.4 billion lira from Villafranca Airport (despite a 12% decrease in aircraft traffic and a 15% drop in passenger movements due to three months of closure) and a loss of 8.6 billion lira from Montichiari Airport.
Overall, the Garda system handled 1,857,790 passengers, roughly 35,000 more compared to 1998: of these, about 350,000 were linked to Montichiari, specifically 327,000 during the 81 days of substitution when the Villafranca runways were closed, and 23,000 throughout the rest of the year from June to December 31. While at the top of Catullo Spa, the outgoing president Massimo Ferro is succeeded by Fernando Sanson, the Brescia representatives — Alberto Cavalli, president of the Provincia, and Franco Bettoni, president of the Camera di Commercio — are facing the concrete phase of launching D’Annunzio Spa, the management company that will oversee Montichiari Airport’s operations.
A task not easy, considering the results of the 1999 balance sheet: but one that involves the Brescia officials in an exciting challenge, entrusting them with a direct role in managing the airport. “We are facing — states Province President Alberto Cavalli, supported by provincial Transport Councilor Vigilio Bettinsoli — an important and delicate transition, but one that is extremely positive, as it will allow Brescia to directly influence decisions concerning our territory. Therefore — Cavalli continues — in full harmony with Bettoni and Bettinsoli, we have requested and obtained the approval of the Catullo presidency on some strategic directives, which we consider essential.”
What are the Brescia requests? Firstly, Cavalli explains, it is about claiming the presidency: the Board of Directors will consist of 9 members, of which 4 will be Brescia representatives, with a share capital of 33 billion lira, of which 85% (equivalent to 28 billion) belongs to Catullo, and the remaining 15% (5 billion) to the Provincia and Camera di Commercio in equal shares. The Brescia share capital will be composed of the third installment of payments, amounting exactly to 5 billion lira, scheduled for the current year. The final installment of the 15 billion lira paid will not be gratuitous but will represent a capital share of equal value.
The Brescia representatives have also secured an option on the second phase of the maneuver, when an increase in share capital (with premium) will proceed to include a technical partner, and simultaneously Catullo will reduce its control to 58%: the Provincia and Camera di Commercio will then be able to acquire new shares without any premium. “Montichiari — adds Councilor Bettinsoli — has all the potential to grow: connections with Rome, London, Olbia, and Romania should bring the Brescia airport’s passenger count to 260,000 already by 2000, with expectations of growth up to 650,000 within the first ten years.”
Graziano Guerini
