Romanian Transport Ministry Approves Bucharest Airports Merger

The decision on the merger of the two airports was made within the general assembly of shareholders of Baneasa Aurel Vlaicu airport.

"The next step is to approve the Government decision on the setting up of the National Airport Company, then, the two airports must reach common ground on all administrative and legal aspects. Merger proceedings will be completed within nearly five weeks after the government approves the decision," Transport Ministry secretary of state, Marin Anton, told MEDIAFAX Friday.

On July 30, official sources said the Romanian government decided to postpone discussing the draft decision on the setting up of the National Airport Company after the social democrats requested the draft should be first discussed by the members of the country’s ruling coalition

According to the draft normative act in this respect, the purpose of the measure to set up a national airport company is to cut overall operating costs, set up a joint management strategy for the airports operating in the same area, draft a unitary strategy meant to develop and upgrade airport infrastructure, as well as to work on "a set of highly appealing measures in view of further privatization."

The draft stipulates the future Bucharest Airport Company will be funded from its own revenues, the state budget, bank loans, external loans contracted or guaranteed by the state in accordance with European Union regulations regarding competition, external non-reimbursable funds under the law, as well as legal forms of private equity participation and other law-regulated financial sources. 

The draft also stipulates transferring several plots of land privately owned by the state and put at the disposal at Henri Coanda airport for free, into the free use of the future airport company. 

The future airport company, whose share capital will set off with 143.7 million lei (EUR1=RON4,2157), will be headquartered in Otopeni town, Ilfov county, close to capital city Bucharest.

The country’s former government approved the decision to set up the airport company in March 2007, and the request in this respect was submitted to the National Trade Registry Office two months later.

In June 2007, Romanian airliner Aviatia Utilitara took legal action against the setting up of the airport company and a delegate judge with the Ilfov Trade Registry Office suspended the setting up of the airport company.

In 2007, the Transport Ministry at that time started proceedings to list a 5% stake of Otopeni on the Bucharest Stock Exchange. Furthermore, the previous government annulled early 2008 the decision to set up the company to allow listing the two airports on the stock market.

Bucharest’s Otopeni and Baneasa airports have 80% of their shares in the hands of the Transport Ministry, while investment fund Fondul Proprietatea owns a 20% stake. The current shareholding structure will remain unchanged in the future airport company.