Vesselin Peykov, CEO of Sofia Airport: The new, higher airport charges are in the interest of passenger safety

nikoleta.cvetkova@klassa.bg


- Mr. Peykov, how was the financial year 2011 for Sofia Airport?
- Regardless of the economic crisis, a positive growth was registered in some indicators, which means the past financial year was successful. The Trade Directorate recorded an increase of 27.9% in the annual turnover of the stores, compared to the results for 2010. This is due to the regular supplies, good marketing and management. There is also a significant hike of some 123% year-on-year in revenues accumulated from the two parking lots at Terminal 1 and Terminal 2,.
The profit of Sofia Airport after taxation stood at BGN 11.375, or BGN 950,000 more than the initially estimated revenue.

Currently, the airport's operation is very difficult as a result of the huge competition between operators providing airport ground services. There are three ground-based operators servicing passengers and aircraft. The first one is included in the airport's structure, while the second ground handling company is Swissport Bulgaria (SwissPort) and the third one is Gold Air Handling Bulgaria. Swissport Bulgaria is a major international operator functioning at many world airports, while Gold Air, which services the Greek ports, was recently granted a license to operate at Burgas Airport. Both operators are larger than the one incorporated in the airport's structure. But, nevertheless, we managed to maintain our market share of 48% of the passengers serviced. We are focusing our maximum efforts on retaining the bulk of the airline companies, as well as bringing back those who left us over the years. Each day, we follow the rule of holding talks with the companies which we manage in order to become aware of their needs. In 2011, the number of passengers serviced reached nearly 3,5 million people, which marked a positive growth of 5.4% year-on-year, while passenger traffic was estimated at 3,297 million people. Last year, here, at Sofia Airport, about 16,000 tonnes of freight and mail consignments were handled, or 3.7% more, compared to 2010.

- This year, Sofia Airport must determine airport charges. Will there be any change in their amount and when are you planning for this to take effect?
- Yes, there will be a change but we will not determine the airport charges ourselves. All of them will be cost-based. This means that after we estimate them, their cost-effectiveness will be discussed and proven to airline companies. The decision on the charges' amount will be agreed between the two parties. At present, the airport is in charge of checking the passengers and luggage, and it is not remunerated for this activity. As a result, the airport is covering the expenditures incurred with its own funds.

At the moment, the amount of the charges is being estimated, while the majority of these have already been calculated. There is an ongoing discussion with the General Directorate "Civil Aviation Administration", which will also continue with the Commission on Trade and Consumer Protection. Along with the estimation of the charge rates themselves, we are already working on the drafting of the determination methodology, which will follow the same procedure of operation.

We expect the new charges to enter into force as of May and these will certainly be increased, compared to the current rates. I cannot pinpoint the exact amount since the necessary discussions has not been held yet.

These charges will protect not only the interests of the Airport but they will be in the interest of the safety of passengers because their cost-effectiveness will enable us to save money for the purchase of new airport X-ray and security scanners. If the service users fail to pay for it, there will be no revenues to invest in new equipment.

- Last week the International Court of Arbitration in Paris ruled that Sofia Airport must pay a compensation of $38 mln to the Kuwaiti consortium, which constructed the runway of Terminal 2. What will follow after that?
- After the initial claims for compensation of $54 mln lodged by the Kuwaiti consortium Mohammed Abdulmohsin Al-Harafi and Sons, the latter amount was reduced to $38 mln. A total of $11 mln out of these are unpaid costs, which the consortium was unwilling to invoice in order for its investment to be refunded. At the moment, we are in a period in which the parties may deliver their comments on the technical inconsistencies in the decision itself. We have already made several remarks on the decision, which have been referred to the Court of Arbitration. Now, we are waiting for the institution to state its final decision. Afterwards, it will be referred to the Exequatur Court of First Instance, whose final decision can be recognised in Bulgaria. I suppose that we will undergo this procedure because all legal options for defending the interests of the Airport and our state should be exhausted. Besides, I think that there is an option for reducing the amount of the compensation, whose enforcement can be repealed at the level of the Exequatur Court of First Instance but that ultimately depends on the final judicial decision.

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