In October 2019, IOS Partners, Inc. was subcontracted to assist in providing financial advisory services as part of the project “Technical Bid Advisory Services for the Concession Process of Four (4) Cuban Airports (Varadero Airport – VRA, Abel Santamaria Airport – SNU, Jardines del Rey Airport – CCC and Frank País Airport – HOG)”. The overall objective was to support Fraport AG Frankfurt Airport Services Worldwide (FRAPORT) in the preparation of its bid to be awarded a concession agreement by the Cuban Airports and Aeronautical Services Company (ECASA) to develop and operate these airports.
The provision of the technical advisory services was led and coordinated by the International Air Transport Association Consulting (IATA), who in turn subcontracted Spanish engineering firm AIRIA and IOS Partners to provide specialized expertise.
For this project, IOS Partners was specifically hired to implement the following activities:
- Review the airports’ operational cost projections
- Prepare the operational expenditures (OPEX) estimates for each airport
- Review the approach and assumptions used for personnel and OPEX projections, the OPEX model and perform personnel forecasts
- Provide advisory services during the preparation of the independent air traffic forecasts
- Support AIRIA in the integration of the CAPEX estimates into the financial model
The results of these activities were used as inputs to FRAPORT’s bid, which was submitted to ECASA in November 2019. IOS Partners is pleased to have been able to provide its support to this effort.
