New consortium takes over at Quito airport

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Toronto-based Aecon Group today announced that a consortium led by the construction conglomerate has signed agreements to take over management of Mariscal Sucre International airport in Quito, Ecuador as the first step in the development of a new international airport in the Ecuadorian capital

The existing airport, located in the central area of Quito, suffers from a number of constraints including runways too short to accommodate large aircraft. Because this cannot be rectified at the current location the development plan calls for the new airport to be built in Puembo in the suburbs. Once completed, the existing Mariscal Sucre airport will be closed.

The takeover agreement is still subject to a number of conditions, including the finalisation of arrangements for transferring the terminal operations from Ecuador's civil aviation authority which currently operates the airport. When all agreements are in place the new airport will be developed by a concession company, Corporacion Quiport,which will hold a 35-year management concession. The airport's retail operations including Waked Internacional's duty-free shops will be overseen by consortium partner Houston Airport System Development Corp together with ADC.

Aecon holds a 66.67% stake in Quiport with Airport Development Corp (ADC) of Toronto holding the remainder. Aecon said it intends to sell off approximately 47% of Quiport to a new equity partner (or partners) and retain approximately a 20% stake.