Incheon, AdP and Schiphol strike key cooperation agreement

INTERNATIONAL. Leading airport operators Incheon International Airport Corporation (IIAC), Aéroports de Paris (AdP) and Schiphol Group have joined forces in what they describe as a “unique three-way cooperation” by signing a Memorandum of Understanding (MoU). Crucially, the agreement includes a provision to share best practice, benchmarking and joint projects around retailing.

In a statement, the partners said: “Under the terms of the MoU, the airports will exchange best practices, benchmark and conduct joint projects, focusing on passenger operations, retail, cargo and human resources.”

The cooperation aims to improve services offered to customers (passengers, airlines and freight forwarders) by benefiting from each other’s experience and expertise, they said.

At the end of 2013 the partners will evaluate the cooperation.

AdP and Schiphol Group already have an agreement, struck in late 2008, to enter into long-term cooperation, including a cross-shareholding agreement.

At the time, Schiphol Group acquired an 8% stake in Aéroports de Paris from the French government for €530 million or €67 per share. Aéroports de Paris has purchased €370 million worth of Schiphol Group shares, also an 8% stake.

To manage the alliance, the companies created an Industrial Cooperation Committee plus eight Steering Committees for each of the cooperation areas: (i) dual-hub & network attractiveness, (ii) airport operations, (iii) retail, (iv) international development, (v) real estate, (vi) telecom & IT, (vii) sustainable development and (viii) purchasing.

The move was in a bid to create a leading global alliance in the airport industry. The addition of powerful Korean airports group IIAC now adds huge weight to that effort.

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