FSP seals the deal at New York Stewart
24 / 12 / 2019
From January 1, 2020, Future Stewart Partners (FSP) will operate and maintain New York Stewart International Airport’s terminal, landside and airside.
FSP, a joint venture of Groupe ADP (which operates Paris Charles de Gaulle) and AvPORTS (an American-owned and -based airport manager and operator), has agreed the deal with the Port Authority of New York and New Jersey (PANYNJ).
Located 60 miles from Manhattan, Stewart International Airport is the fourth-largest airport in New York.
FSP has, it said, an “ambitious vision to make New York Stewart International Airport the preferred New York gateway for short and long-haul budget airlines”.
PANYNJ announced FSP as the winner of its process to find an operations, maintenance and concessions manager for Stewart on September 26. PANYNJ and Future Stewart made it official after a mandatory regulatory phase, and an agreement was signed on December 20 that will take effect in the New Year.
According to a statement from FSP, this agreement “sets a new course for growth at the airport over the next 10 years as it becomes a regional hub”.
Jorge Roberts, chief executive of AvPORTS, observed: “As part of its vision, Future Stewart Partners is committed to bringing New York Stewart International Airport to the next level.”
Augustin de Romanet, chairman and chief executive of Groupe ADP, added: “After the acquisition of the consulting company Merchant Aviation and after the win of several airport planning assignments for major airports, Groupe ADP is strengthening its footprint in the US.
“The management of New York Stewart International Airport is an opportunity for us to showcase our ability to transform the airport experience to the benefit of our future clients.”
In addition to its work at Stewart Airport, AvPORTS also currently operates Albany, Republic and Westchester airports in New York, as well as Teterboro Airport in New Jersey.
Groupe ADP currently manages a number of airports, including Paris-Charles de Gaulle, Paris-Orly and Paris Le Bourget. In 2018, the group handled through its brand Paris Aéroport more than 105m passengers and 2.3m tonnes of freight and mail at Paris Charles de Gaulle and Paris Orly.
Groupe ADP reorganises
Last week, Groupe ADP announced that it was to restructure, creating two new departments, identifying ten business lines and strengthening operational links between it and TAV Airports.
The various business activities of Groupe ADP, which employs around 26,000 people and directly manages 24 airports around the world, are carried out by its airports in Paris as well as its various subsidiaries, including TAV Airports (which is 46.1%-owned).
Today, in total Groupe ADP is actually active at 125 airports across 50 countries. The reorganisation is intended to ensure the continued expansion of its Parisian airports while also taking up new international opportunities to develop the business as a “sustainable global airport leader”.
Its ambition is that international business will contribute between 35% and 40% of the group’s earnings before interest and taxes (EBIT) by 2025 (compared to 27.4% in 2018).
Meanwhile, TAV Airports will also be expected to expand its activities both in Turkey and in other countries.