London Gatwick airport: waiver agreement on financial covenants
22 SEPTEMBER 2020 - 6:45 PM - FINANCES - UNITED KINGDOM
In August 2020, London Gatwick airport, a 50.01% subsidiary of VINCI Airports, entered into discussions with its lenders, in light of the forecast impact on tis financial covenants.
Given the exceptional circumstances affecting air travel, they approved with a large majority the company’s request to temporarily waive its financial covenants.
Further information is available here:
About VINCI Airports
VINCI Airports, as the leading private airport operator in the world, manages the development and operation of 45 airports located in Brazil, Cambodia, Chile, Costa Rica, the Dominican Republic, France, Japan, Portugal, Serbia, Sweden, the United Kingdom and the United States. Served by more than 250 airlines, VINCI Airports' network handled 255 million passengers in 2019. Through its expertise as a comprehensive integrator, VINCI Airports develops, finances, builds and operates airports, leveraging its investment capability and know-how to optimise the management and performance of existing airport infrastructure, facility extensions and modernisation projects. In 2019, its annual revenue for managed activities amounted to €4.9 billion, for a consolidated revenue of €2.6 billion.
VINCI is a global player in concessions and contracting, employing more than 222, 000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.