Vinci team takes 49% stake in Poland’s new airport company

Poland’s CPK is building a new international airport near Warsaw, plus 2,000km of new high-speed rail (Courtesy of CPK)
A team of Vinci Airports and Australia’s IFM Global Infrastructure Fund has been chosen as preferred investor for Poland’s new international airport.

They were picked by Centralny Port Komunikacyjny (CPK), the state-owned company integrating Polish air, road, and rail transportation.

It’s building a new international airport near Warsaw, plus 2,000km of new high-speed rail. The multi-modal scheme aims to put Warsaw within 2.5 hours of all major Polish cities.

Vinci and IFM offered around $1.9bn for 49% of the shares of CPK.Lotnisko, the company building and managing the new airport.

Through CPK, Poland’s State Treasury will own 51% of CPK.Lotnisko.

CPK said Vinci and IFM’s investment would provide 40% of the capital for the airport’s construction, and that it would seek the remaining 60% from debt financing (bonds or bank loans).

“CPK is not megalomania,” said Marcin Horała, Poland’s deputy minister of funds and regional policy, and the Polish government’s representative on CPK.

“CPK is not a threat to regional airports. CPK means the creation of a Central European passenger hub, while at the same allowing to tap into the gigantic revenues from air cargo, which have so far passed Poland by.

“Vinci and IFM joining the CPK project is the best proof that CPK is a well-thought-out project based on numbers. It will not only boost the Polish economy, but will also guarantee a high rate of return on investment.”

CPK started looking for an investor in mid-2022. It said it held talks with candidates from Europe and Asia-Pacific.

Vinci Airports has stakes in 65 airports in 12 countries. This will be its first stake in a Polish airport.

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