Aéroports de Paris - 2019 Universal registration document
BUSINESS OVERVIEW 05
DESCRIPTION OF ACTIVITIES BY SEGMENT
The OPEX factor is the adjustment factor linked to operating costs Given the importance of controlling operating expenses regulated in the balance of the agreement and to mark the commitment of Aéroports de Paris, a new adjustment factor has been set up based on the volume of operating expenses in the regulated scope in the 2016-2020 ERA. CHANGES TO FEE TARIFFS UNDER THE 2016-2020 ERA For the 2016 pricing period The cap on average changes in fee levels for the 2016 pricing period was set at the sole change in inflation (CPI 4018 E) measured between August 2014 and August 2015. Inflation was measured at +0.04%, thus determining the cap for changes in the Baseline Pricing Schedule. Aéroports de Paris submitted an average annual fee change of 0.0% for Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget airports for an opinion from the Consultative Economic Commissions and for the approval of the French government. For the 2016 pricing period, Aéroports de Paris retained a non-uniform increase for Paris-Charles de Gaulle and Paris-Orly airports with 11.8% and 15.5% increases in landing and parking fees respectively and a 7.0% reduction in passenger fees. A revaluation of the weighting of gauge and movement baselines for the landing fees has also been retained with the elimination of the 40 tonne threshold triggering the variable portion of the landing fees, the application of the variable portion as of the first tonne of gauge landed and a differentiated change in the fixed portion and of the variable portion of this fee of +49.5% and -38.9% respectively. With effect from 1 April 2016, Aéroports de Paris has also set up a new fee to standardise the pricing terms for sorting baggage in transit between Paris-Charles de Gaulle airport terminals. Alongside the new fee for the provision of sorting facilities for baggage in transit at Paris-Charles de Gaulle airport, the fees charged in Terminal 1 and Terminal 2 and the leases for sorting facilities for baggage in transit at Paris-Charles de Gaulle have been abolished and the scope of services provided to airlines has changed. The fee is based on the number of connecting passengers departing from Paris-Charles de Gaulle airport. In addition, starting from the 2016 pricing period and for a time that should not exceed that of the 2016-2020 ERA, Aéroports de Paris has set up five temporary discounts to develop traffic and improve infrastructure use. The three price discounts set out below do not include a set-off mechanism: ◆ a price discount on the passenger fee to develop Origin/Destination passenger traffic; ◆ a price discount on the fee per passenger to develop connecting passenger traffic; ◆ a price discount on the parking fee to encourage rapid turnaround and improve infrastructure use. For each discount, the overall rate for all airlines combined may not exceed a cap of €5.0 million in 2016. These maximum packages will change each year according to the average rate of change in airport fees governed by the 2016-2020 ERA.
rewarded by a bonus. The extent of these penalties and bonuses is +/-0.08% per indicator. Three excellence indicators have been retained: ◆ satisfaction as regards connecting flights, ◆ overall satisfaction upon departure, ◆ overall satisfaction upon arrival, ◆ the financial incentive associated with all these indicators is based on a system of penalties and bonuses of about +0.24%/-0.52% of airport fees per year. The INV1 factor is the adjustment factor linked to the major investments schedule This indicator, which can give rise to a maximum net penalty of 0.1% of fees, measures compliance with the timetable for carrying out major operations. The targets for the indicator “Conducting of Investment Operations” correspond to the following completion dates: 2016-2020 ERA targets: ◆ “Paris-Orly Nouvel Envol” (new departure) link: 1 st quarter 2018; ◆ luggage sorters in Hall L (TDS3) Paris-Charles de Gaulle: 2 nd quarter 2018; ◆ first phase of the refurbishment of runway 3 at Paris-Orly: 4 th quarter 2019 2 ; ◆ connecting of Terminals B and D at Paris-Charles de Gaulle: 2 nd quarter 2019; ◆ junction of the satellites of terminal 1 at Paris-Charles de Gaulle: 2 nd quarter 2019. The results of this indicator lead to the application of the pricing cap adjustment factor, called INV1(n). It is based on a system of bonuses and penalties, according to which the operations concerned are completed before or after the reference calendar. These bonuses and penalties are reconciled every year (n), and only one possible net penalty is taken into account when calculating the INV1 factor. The maximum net penalties applicable annually are -0.1% of airport fees, assuming a delay of two quarters in the timetable for carrying out each operation identified above. The INV2 factor is the adjustment factor linked to current investment expenditure, competitiveness of the connecting platform and airport processes, service quality and sustainable development As was already the case within the ERA 2 framework, an adjustment would lead to a reduction in the tariff cap to offset a portion of the annual costs saved, in the event that fewer investments are made than initially forecast. ◆ extension of the Paris-Orly East Pier: 2 nd quarter 2016; ◆ renovation of runway 4 at Paris-Orly: 4 th quarter 2017 1 ;
1 The renovation of runway 4 at Paris-Orly was due to be completed during the fourth quarter of 2016. In order to minimise the impact of reduced capacity associated with the closure of the runway, it was decided, in concert with the French State, to postpone the delivery deadline until the fourth quarter of 2017. 2 The first phase of the renovation of runway 3 at Paris-Orly was due to be completed during the third quarter of 2018. As a postponement was deemed preferable for all stakeholders, the completion date was deferred until the fourth quarter of 2019 after consultation with the parties involved and with the approval of the French State.
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AÉROPORTS DE PARIS ® UNIVERSAL REGISTRATION DOCUMENT 2019
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