Celebrating SAC's financial closing success in Italy

The end of March saw the celebration of a special event organized by S.A.C Societa' Aeroporto Catania S.P.A  in the ‘Vicenzo Bellini’ lounge at the Palace of the Elephants in Catania.  The event was aimed at celebrating the successful financial closing of the 80 million EUR granted to SAC for the realization of the investment for the airport of Catania, the second largest city on the island of Sicily. 

SAC’s concessionary agreement with ENAC (the Italian Aviation Authority) required a commitment to a certain level of investment to occur over the coming years and therefore SAC needed to secure funding for its forthcoming investment programme. Steer Davies Gleave were asked by the bank arranging this financing to prepare a business plan for SAC.

At the event, Marco Concari, Director and Head of the Italian offices of Steer Davies Gleave, held a speech focusing on the work undertaken by SDG on behalf of the banks regarding the assessment of SAC’s business plan. Marco detailed SDG’s analysis undertaken to review SAC’s future investment programme.

The allocated Steer Davies Gleave team first analysed the assumptions made for future scenarios on the evolution of air traffic growth and passenger flow in the airport, both in the short and long term. Building on the findings of the updated traffic forecasts, SDG consultants then identified the type of investments required over time to meet the needs of forecasted passenger flow. Finally, an assessment of non-regulated and regulated revenues was undertaken to establish SAC’s future financial needs in order to take forward the reviewed business plan with the support of the financial institutions involved.

"SAC is undertaking a number of investments that will significantly improve passengers traveling experience and support the continuous growth of the airport, strengthening its position as a key player in the Italian aviation market. We are proud that our international experience has been put at service of the financial closing of this challenging project"– concluded Marco speaking at the event.

Find out more about Steer Davies Gleave involvement with SAC.