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Onorevole Federica MOGHERINI Ministro Degli Affari Esteri P.Le Della Farnesina 1 I - 00194 Roma EUROPEAN COMMISSION Brussels, 9.4.2014 C(2014) 2242 final In the published version of this decision, PUBLIC VERSION some information has been omitted, pursuant to articles 24 and 25 of Council This document is made available for Regulation (EC) No 659/1999 of 22 March information purposes only. 1999 laying down detailed rules for the application of Article 93 of the EC Treaty, concerning non-disclosure of information covered by professional secrecy. The omissions are shown thus […]. Subject: State aid SA.38346 (2014/NN) – Italy Capital injection – Aeroporto Valerio Catullo di Verona Villafranca S.p.A. Madam, 1. PROCEDURE (1) After pre-notification contacts, by electronic notification dated 18 February 2014, Italy notified under article 108 (3) of the TFEU a measure concerning a capital increase of Aeroporto Valerio Catullo di Verona Villafranca S.p.A. The information was filed under the reference SA.38346. (2) The case was initially registered as a notified measure, but in view of the fact that the capital increase has already been implemented and the funds are within the control of the beneficiary, the measure was reclassified as unlawful aid and the case was transferred to the NN (not notified) register on 3 March 2014. (3) Italy has accepted exceptionally that the decision be adopted in English. Onorevole Federica MOGHERINI Ministro degli Affari esteri P.le della Farnesina 1 I - 00194 Roma Commission européenne, B-1049 Bruxelles/Europese Commissie, B-1049 Brussel – Belgium Telephone: 00- 32 (0) 2 299.11.11. 1 2. DESCRIPTION OF THE MEASURES 2.1. Background 2.1.1. The airport management company (4) Aeroporto Valerio Catullo di Verona Villafranca S.p.A. (hereinafter "AVC"), with its registered offices at Caselle di Sommacampagna in the Province of Verona, is a public limited company under private law mainly owned (around 90%) by a plurality of public shareholders, including the Chamber of Commerce of Verona, the Municipality of Verona and the Provinces of Verona, Trento and Bolzano. The remaining 10% is owned by private shareholders, such as Banco Popolare SC, Fondazzione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, Promofin S.r.l. and the Industrial Association of Mantua. AVC is responsible for the management of Verona Villafranca airport (hereinafter "Verona airport") and Brescia Montichiari airport (hereinafter "Brescia airport"). Verona and Brescia airports form an airport system (Sistema Aeroportuale del Garda), the latter airport intended to be specialized in cargo. (5) AVC also leads the company Gabriele D’Annunzio S.p.a., ground-handler in Brescia. A restructuring of the group as of January 2013 included the liquidation of some other companies, such as Avio Handling S.p.a., ground-handler in Verona, ADG Engineering S.r.l., Verona Cargo Centre S.p.a. and Cuore d'Italia S.c.a.r.l., and the fusion of Catullo Park through incorporation. (6) The infrastructure project which is partly financed by the notified measure is part of the AVC’s new strategy set out in 2012, prepared by the new management as from 27 June 2011. The new management presented a ten-year business plan for the period 2012-2021, hereinafter "the business plan". 2.1.2. Verona airport (7) Verona airport is managed by AVC on the basis of a 40-year comprehensive management concession contract, registered with the Italian Court of Auditors on 12 February 2009.1 (8) In September 2008, after enjoying the status of 'military airport open to civilian air traffic'2, Verona airport formally passed from military to civilian status. It is located in “Villafranca di Verona”, which is 12km from Verona city centre and about 30km from Sirmione, a popular tourist destination on Lake Garda. (9) It is a regional airport with 3.2 million passengers in 2012 and falls within the national network of main Italian airports.3 The area has other regional airports in proximity, such as Brescia (approx. 66 km), also managed by AVC, Venice 1 Prior to this date, the company had operated at the airport first as concessionaire (until 16 December 2000) and subsequently on the basis of the provisional authorisation set forth in Article 17 of Decree Law No. 67/1997, as converted by Law No. 135/1997. 2 In 1956 the first charter flight was opened from Verona under the jurisdiction and responsibility of the Italian Air Force. In 1961 a first scheduled flight operated Verona-Rome was operated by Air Italia. 3 According to the National Plan of Airports (Piano Nazionale degli Aeroporti), p. 43 ff., delivered by ENAC and the Ministry of Infrastructure and Transport in February 2012, which lists 24 airport within the network. (approx. 116 Km), Bergamo-Orio al Serio (approx. 117 km), Treviso (approx. 141 km) and Bolzano (approx. 151 km). (10) Traditionally the traffic at Verona airport has been shared mostly between legacy carriers and charter operators, representing jointly around 90% of total traffic in 2010 (respectively around 70% and 20%)4, and the rest being operated by low cost carriers.5 The development of traffic and freight at the airport since 2007 is as follows: Table 1: passenger and freight development at Verona airport 2005-2013 Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 Passengers 2,650 3,008 3,510 3,403 3,071 3,023 3,386 3,199 2,720 (thousands) Freight 10,889 12,138 9,153 7,515 6,362 5,072 5,381 4,993 4,745 (tons) (11) As presented in the business plan, the expected development of passenger traffic up to 2021, if the investment project partly financed by the notified measure is implemented, is as follows: Table 2: Expected passenger development at Verona airport 2014-2021 Year 2014 2015 2016 2017 2018 2019 2020 2021 Passengers […]∗ […] […] […] […] […] […] […] (thousands) (12) With regard to freight, Verona Airport has a very small cargo facility and the Italian authorities indicate that this activity of the airport will remain stable (at […] tons per year) in the upcoming period until 2021. 2.1.3. Brescia airport (13) Brescia airport, constructed by AVC in 1999, is managed by the company on the basis of a 40-year comprehensive management concession contract, granted through the Interministerial Decree of 18 March 2013.6 (14) Brescia is specialized in cargo transport. Airports in proximity include Bergamo- Orio al Serio (approx. 68 Km), Linate (approx. 111 km) and Bologna (approx. 125 Km). (15) Brescia airport is currently focused on cargo and hosts airlines such as Mistral airlines, Lufthansa, Alitalia, Antonov and DHL.7 In 2000-2012, its traffic level 4 Carriers include Air One, Alitalia, Meridiana fly-Air Italy, Air Dolomiti, Lufthansa, British Airways, Eurolot, Aer Lingus, Air France–Klm, Air Moldova, Monarch, Neos, Volotea, S7 Airlines, Blue Panorama, Wizz. 5 Low cost companies active in the airport include Easyjet, Wizzair, FlyBee, Volotea, Transavia and German Wings. As from October 2010 Ryanair started to operate in the airport, followed by Easy jet in 2011. However, Ryanair ceased its operations at the airport in October 2012. ∗ Business secret 6 Prior to this date, the company had operated the airport on the basis of the provisional authorisation set forth in Article 17 of Decree-Law No. 67/1997. never reached 1 million of passengers. The number of passengers decreased over the years (from a peak of approx. 410,000 passengers in 2005 to only approximately 23,000 passengers in 2012), while the freight increased constantly (from 21,413 tons in 2005 to 40,746 tons in 2012). The development of traffic and freight at the airport since 2007 is as follows: Table 3: passenger and freight development at Brescia airport 2005-2013 Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 Passengers 410 232 190 260 204 165 34 23 10 (thousands) Freight 21,413 24,428 47,155 39,967 36,070 34,320 40,143 40,746 39,916 (tons) (16) As presented in the business plan, the expected development of cargo volumes up to 2021, if the notified infrastructure measures are implemented, is as follows: Table 4: Expected freight development at Brescia airport 2014-2021 Year 2014 2015 2016 2017 2018 2019 2020 2021 Freight […] […] […] […] […] […] […] […] (tons) (17) With regard to passenger numbers, Brescia airport’s traffic is supposed to remain stable (at […] passengers per year) in the upcoming period until 2021. 2.2. The investment project and its financing (18) The notified measure is intended to strengthen the company’s capital base so that it can contribute to financing the infrastructure investments envisaged in the 2012-2021 business plan. This business plan was conceived by the company in accordance with the commitments undertaken for the development of the airports of Verona and Brescia by AVC towards ENAC (the Italian National Agency for Civil Aviation). (19) Under the 2012-2021 business plan, Verona airport will focus on national / European passenger traffic and no longer distinguish between low cost, legacy and charter passengers, whereas general aviation at Brescia airport will be gradually set aside in the short term for the benefit of freight transport and in the long term for freight and passenger transport. (20) The capital increase subscribed by the public shareholders of the Company (the notified measure) is to cover part of the investments planned to extend and upgrade the existing infrastructure at the Verona and Brescia airports managed by the AVC. These investments are necessary for the airports to be able to meet the traffic demand in the region to sustain its competitiveness and development. 7 According to the website of the airport, in 2012 it was the fourth biggest Italian airport in term of cargo with more than 40.000 tons of freight.
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