Association of Private Airport Operators(APAO - AERA
Association of Private Airport Operators(APAO - AERA
Association of Private Airport Operators(APAO - AERA
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1.<br />
2.<br />
3.<br />
4.<br />
5.<br />
6.<br />
Auckland<br />
International<br />
<strong>Airport</strong><br />
Fraport AG<br />
Frankfurt<br />
Guangzhou<br />
Baiyun<br />
International<br />
Shanghai<br />
International<br />
<strong>Airport</strong><br />
Shenzhen<br />
<strong>Airport</strong> Co<br />
Xiamen<br />
International<br />
<strong>Airport</strong> Co<br />
New<br />
Zealand<br />
Germany<br />
China<br />
China<br />
China<br />
China<br />
<strong>Association</strong> <strong>of</strong><strong>Private</strong> Ai/7JOrt<strong>Operators</strong><br />
Response to A ERA 's Consultation Paper No. 3212011-12 dt. 03 Jail 2()12 011<br />
tletermintttlon <strong>of</strong>Aerannutical Taritfill resoect <strong>of</strong>IGI Airoort, Nell' Delhi<br />
0.3<br />
0.5<br />
0.2<br />
0.2<br />
0.2<br />
0.2<br />
0.77<br />
0.61<br />
0.55<br />
0.72<br />
0.83<br />
0.75<br />
0.74<br />
0.62<br />
0.64<br />
0.73<br />
0.94<br />
0.79<br />
291ft February 2012<br />
3.7 The SFG report also included a number <strong>of</strong> companies which are not directly related to<br />
or limited to airport operations. The diverse operations <strong>of</strong> these companies affect the<br />
overall business risk <strong>of</strong> the company and thus, using their beta estimates as<br />
comparables provides an incorrect assessment <strong>of</strong> risk. These incomparable companies<br />
have been included by NIPFP as 'comparable firms' in its determination <strong>of</strong> cost <strong>of</strong><br />
equity for Indian <strong>Airport</strong>s. The details <strong>of</strong> diverse non airport business operations <strong>of</strong><br />
these incomparable companies are mentioned below:<br />
S No. <strong>Airport</strong> Country Dctnils <strong>of</strong> Business<br />
1.<br />
2.<br />
Beijing <strong>Airport</strong><br />
High-Tech Park<br />
Derichebourg<br />
SA<br />
China<br />
France<br />
Principally engaged in the architectural<br />
construction, real estate sale and leasing and<br />
land development.<br />
Offers:<br />
1. Environmental services: Provides recycling<br />
and conversion <strong>of</strong> end <strong>of</strong> life consumer<br />
4 Input Methodologies (<strong>Airport</strong> Services), Reason s Paper dated 22 December 20 10, Regulation Branch Commerce<br />
Commission, Wellington, New Zealand<br />
5 Analysis <strong>of</strong>airport asset betas, Pricewaterhousef'oopers dated 3 August 20 I0<br />
Page 9 <strong>of</strong>41
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