- March 1, 2017: Vol. 10, Number 3

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Listed airports: A flight to quality

by Fraser Hughes

Global infrastructure provides the structures and systems that are essential for society to function, ranging from utility provision to transportation networks. It consists of physical assets that are costly to develop and difficult to replace.

Airports are one such stable provider of infrastructure assets, even in the sometime turbulent aviation industry. While there is a natural link between airports and airlines, each relying on one another to operate efficiently, they are clearly based on different business models. According to the Airports Council International (ACI), mid-term and long-term planning for airlines is 12 months and in the 3–5 years range, respectively. Airlines need to be able to be flexible and move quickly to respond to changes in traffic flows, by leasing or retiring capacity. Airports, on the other hand, must make long-term planning decisions to safeguard capacity. Mid-term planning is five years, and long-term planning, 20–25 years, to

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