Invepar airport returns prompt plans for more

[SAO PAULO, Brazil] Invepar, the company that paid US$9.4 billion to run Sao Paulo's international airport, is planning to bid for more contracts as returns from operating the facility top its expectations.

Guarulhos airport, just outside of Sao Paulo city, is offering real returns of more than 11 per cent to investors, according to CEO Gustavo Rocha. Airlines, which are flying bigger planes now, last year cut flights and concentrated the remaining ones at large airports, including Guarulhos, to save money. About 10 per cent more passengers passed through Guarulhos last year, compared with a 3 per cent drop at Rio de Janeiro's Galeao airport, he said.

"Guarulhos has proved to be a big defensive asset," Mr Rocha said in an interview at Bloomberg's Sao Paulo office. "Growth in passengers in Sao Paulo over the past two years has been much higher than we anticipated."