Japan: Orix-Vinci team aims to improve Osaka airports

A consortium led by Orix Corp. has started operating two major airports in and around Osaka Prefecture under an unprecedented 44-year privatisation contract through March 2060. Kansai Airports hopes to make Kansai International Airport and Osaka International Airport into “world-class airports,” said Yoshiyuki Yamaya, CEO of the consortium formed by Orix and Vinci Airports SAS of France. Kansai Airports plans to invest more than Y940b in the coming 44 years. For example, it envisages building a third terminal, designed exclusively for budget carriers, and accommodation facilities for early morning and late night passengers at Kansai International Airport in fiscal 2016, which ends in March 2017. It will also upgrade commercial facilities, including the opening of an airport-style duty-free shop in the city of Osaka next spring. To become more user-friendly for airlines as well, Kansai Airports will set landing fees carefully according to the season and route. The two airports have been expanding revenue and profit in recent years, thanks to increased traffic from budget carriers. <br/>