Fiumicino is the best airport in Europe, should you invest in airports?

Fiumicino Leonardo da Vinci International Airport is the best in Europe. The award came a few days ago from the ICA (Airport Council International), an independent association that every year measures the quality perceived by passengers in over 300 airports worldwide. A new success for the company piloted by the Atlantia group, which could have positive repercussions on its stock exchange listing.

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Fiumicino, an Italian excellence worthy of Warren Buffett

Airport companies do not figure – at least for the moment – in the "Warren Buffett portfolio“, The portfolio of securities of the famous US financier, considered a guru of equity investments. It could only be a matter of time, because an investment in the air transport sector, especially for international infrastructure in a world tourism capital, would deserve reflection. In the top ten of the Oracle of Omaha, as the American investor is called, there are instead the shares of Coca Cola, Apple, Kraft Heinz, American Express and Bank of America, a financial institution of which the company of the magnate holds the majority. There are also JPMorgan Chase, the investment bank Goldman Sachs, the rating agency Moody's, US Bancorp and the financial giant Wells Fargo & Co.

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A successful year for Fiumicino airport

Reduced by a annus horribilis with the collapse of the Morandi bridge in Genoa and the threat from the Italian government to lift the motorway concessions, in 2019 Atlantia is getting some satisfaction thanks to its airport companies. In addition to Fiumicino, the group controls the airports of Rome Ciampino, Nice, Cannes-Mandelieu and Saint-Tropez, but it is in Italy that it is registering positive results. The match for the rescue of Alitalia is still open (the consortium composed of Atlantia, Ferrovie dello Stato and Delta have obtained an extension for the presentation of the business plan to save the national company), Fiumicino has expanded its offer with new flights (three of which to Chengdu, Shenzhen and Hangzhou, to complete its already wide offer of flights to China) and today it obtains recognition from the ACI, confirming itself better than the other airports for quality of services, efficiency of infrastructures and technological innovation.

The main Italian airports listed on the stock exchange

The air infrastructure of our country saw the record share of 185 million passengers pass through in 2018, contributing 3.6% of GDP according to the ratio ofInternational Center for Competitiveness Studies in the Aviation Industry. Some of them have already been listed on the stock exchange for some time, while others are preparing to enter the markets. Toscana Aeroporti is already a joint-stock company, which includes the airports of Florence and Pisa and which in 2018 recorded net profits of 131.9 million euros (+ 9.2% compared to 2017), the North East Airport Hub and Guglielmo Marconi Airport in Bologna, whose first shares were sold in 2015. Aeroporti di Puglia (Adp), a 100% public company, is also preparing to enter the Stock Exchange soon.

The results of investments in Italian airport infrastructures have positive repercussions on the perception of travelers and, consequently, on their activity. The effects of this virtuous circle can be seen on the stock exchange prices of Italian airports, which by increasing their value can proceed with new investments, focusing on innovation and indirectly contributing to improving the Italian economy.