Friday, October 21, 2016

Airport : the distribution of dividends, voted against a change to the statutes –

After be opposite, the metropolis of Toulouse and the chamber of commerce and industry have approved yesterday the distribution of dividends desired by the shareholder in chinese.

there was no surprise, even if disagreements persist. The exceptional distribution of dividends to the shareholders of the airport of Toulouse-Blagnac airport (ATB) was passed yesterday by the general assembly, according to the will of the main shareholder, the chinese group Casil Europe. “The amount adopted, 15 million euros, less than 25 % of distributable reserves, will not have any impact on the investment capacity of the airport,” assured Anne-Marie Idrac, the president of the supervisory board, who said that the measure was accompanied by the modification of the articles of association of the company “in favour of local authorities and of the chamber of commerce and industry (CCI) of Toulouse”.

greater weight to communities

A condition laid down by the president of Toulouse Métropole, Jean-Luc Moudenc, who wanted to ensure that the small shareholders, local (city, department, region), a blocking minority for the strategic decisions. To the rank which, according to our information, night flights, the use of the land dedicated to aviation, and access to land at the airport.

“for The payment of dividends, in proportion to the units held by shareholders in the company, will be due at the start of the work of the project of reconfiguration of the terminal, as adopted by the supervisory board”, is it stated in a communiqué issued at the end of the general assembly. “This vote is a reward for the consultative process continued, which allowed each to express his views on a governance balanced view of the company, in the framework of a public-private partnership quality, in the service of the airport and of the territories welcomed, for her part, Anne-Marie Idrac. He also expressed the commitment of Casil Europe give these shareholders greater weight in the major decisions concerning the evolution of the ATB, which will be taken by a two-thirds majority. This discussion also ensures their representation on the supervisory board”. A direction will not be displeased to end a period of high turbulence around the issue of dividends coll ected from the 67 million of financial reserves established by the airport of Toulouse-Blagnac airport in recent years. Even if it persists strong divergence of views.

The region and the county council wary

Yesterday, the county council and the region who hold, as the metropolis, 5 % of the shares, have not validated the approach of Casil Europe by voting against it. The two communities still remain very suspicious of the strategy of the chinese operator. The county council, was also surprised of the volte-face of the metropolis and of the ICC, including the president, Alain Di Crescenzo has argued, in substance, that the redistribution of the reserve does not put in danger the investments. Without convincing Georges Méric. “This does not seem to us appropriate from an economic point of view had already made it clear to the chairman of the county council. This reserve is the fruit of the effort of each of the public partners of the historic airport and its redistribution, a year after the new governance put in place, is not included in this collective history, argues he, stressing that it is essential to keep the financial flexibility necessary to prepare for the future of the airport in relation to a new investment program is ambitious…”


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