France’s govt to terminate Nantes Airport concession contract signed with VINCI Airports

    France‘s Minister for Transport Élisabeth Borne announced the government plans to terminate the concession contract signed in 2010 between the state and VINCI Airports covering operation of Nantes Atlantique Airport (AFP/Les Échos, 26-Jun-2018). The contract also covered construction and operation of Nantes Notre-Dame-des-Landes Airport (NDDL), as previously reported by CAPA. Ms Borne said the decision was a “logical consequence” following the abandonment of the NDDL project in Jan-2018. Ms Borne said the termination will enter into effect upon signing of a new concession contract in order to “assure the continued operation of the airport”, with a new contract allowing for scheduled airport renovations works to proceed in early 2021. Ms Borne noted compensation discussions with VINCI have been held since Jan-2018, with compensation due to contract termination reportedly estimated at around EUR200 million (Le Télégramme, 26-Jun-2018). VINCI Airports currently holds an 85% stake in Nantes Airport, according to CAPA data.