Russia is set to significantly increase its expenditure on defence and national security according to a draft 2023 to 2025 budget.
Paris and Amsterdam create global alliance in airport industry
Aéroports de Paris S.A. ("Aéroports de Paris") (Paris:ADP) (Pink Sheets:AEOPF) and NV Luchthaven Schiphol ("Schiphol Group") announce today that they entered into a long-term industrial cooperation agreement and acquired an 8% stake in each other's share capital so as to reinforce their mutual commitment to the cooperation. The two groups have now created a leading global alliance in the airport industry. The first wave of thirty initiatives related to the implementation and operational management of the cooperation has been launched.
Aéroports de Paris and Schiphol Group had announced their intention to enter into an industrial alliance on 21 October and have now obtained all the approvals and authorisations to complete the operation.
* The industrial cooperation agreement has been entered into for an initial period of twelve years.
* This industrial cooperation agreement between two of Europe's leading airport groups represents a bold strategic move that is expected to generate significant benefits for the two groups and their clients in all key business areas: aviation, non-aviation (retail, real estate and telecoms activities) and international development.
* Schiphol Group acquired an 8% stake in Aéroports de Paris from the French government for €530MM, i.e., €67 per share. Reciprocally, Aéroports de Paris purchased €370MM an 8% stake in the Dutch Schiphol Group through its subscription to a reserved capital increase.
* The industrial cooperation is supported by an efficient and balanced governance structure to ensure its success, including cross-representation in Aéroports de Paris and Schiphol Group's respective Board of Directors and Supervisory Board and the creation of an Industrial Cooperation Committee ("ICC")1 and of eight Steering Committees for each of the cooperation areas: (i) dual-hub & network attractiveness, (ii) airport operations, (iii) retail, (iv) international development, (v) real estate, (vi) telecom & IT, (vii) sustainable development and (viii) purchasing.
The first meetings of the ICC and of the eight steering committees were held in Amsterdam. The thirty initiative leaders at Schiphol and Aéroports de Paris have been appointed and will work jointly on the first set of initiatives2 that will be launched in Q1 2009.
1 The ICC is made of four representatives of each company (Aéroports de Paris' representatives come from its Executive Committee and Schiphol Group's from its Board of Management) and is chaired by the Aéroports de Paris and Schiphol Group CEOs on a rotating basis. It meets at least every two months, alternatively in France and in the Netherlands.
2 Sixty initiatives have already been identified and will be addressed in three waves of implementation based on attractiveness and accessibility. The first wave includes thirty initiatives.
All of the information published the 21 October 2008, can be viewed on: http://www.aeroportsdeparis.fr/Adp/en-GB/Groupe/Finance/Publications/OtherPublications/.
Alternatively, all this information is available on www.schipholgroup.com Investor Relations section.
About Aéroports de Paris
Aéroports de Paris builds, develops and manages airports including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. Aéroports de Paris is Europe's second-largest airport group in terms of airport revenue and the European leader for cargo and mail. Aéroports de Paris accommodates nearly 460 airlines, including the main companies in the air transport industry. With an exceptional geographic location and a major trading area, the Group is pursuing its strategy of modernizing its terminal facilities and upgrading quality of services, and also intends to develop its retail and real estate business. In 2007, Aéroports de Paris had revenues of €2,292.4 million and a net result of €321.8 million. It handled 86.4 million passengers. http://www.aeroportsdeparis.fr
About Schiphol Group
Schiphol Group is an airport operator. The company's aim is to create sustainable value for its stakeholders by developing AirportCities and by positioning Amsterdam Airport Schiphol as the leading AirportCity. The company's ambition is to rank among the world's leading airport companies.
Schiphol Group owns and operates Amsterdam Airport Schiphol, Rotterdam Airport and Lelystad Airport and has a 51% share in Eindhoven Airport. Outside the Netherlands, Schiphol USA Inc. has a share in JFK IAT, which operates Terminal 4 at John F. Kennedy Airport, New York and Schiphol Australia has a share in Brisbane Airport Corporation, the operator of Brisbane Airport.
In 2007, Schiphol Group had revenues of €1,146.2 million and handled 50.4 million passengers (Amsterdam Airport Schiphol, Rotterdam Airport and Eindhoven Airport combined). http://www.schipholgroup.com
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