Announcing the incorporation of Nord Sardegna Aeroporti, the single management company for the two airports in Northern Sardinia

PRESS RELEASE

Announcing the incorporation of Nord Sardegna Aeroporti, 
the single management company for the two airports in Northern Sardinia

Alghero, Olbia, 21 March 2023 - The airport system in Northern Sardinia is strengthened with the incorporation of Nord Sardegna Aeroporti S.p.A. – N.S.A., which will bring together the current management companies of Olbia Costa Smeralda Airport (GEASAR SpA) and Alghero Fertilia Riviera del Corallo Airport (SOGEAAL SpA). On 20 and 21 March, the Boards of Directors of GEASAR and SOGEAAL approved the launch of the process that will lead to the merger of the two companies into a single airport management company for both airports.

The business combination is aimed at enhancing the complementarity of the airports, with a view to the integrated planning of activities, services and investments, promoting the development and creation of wealth for the entire central-northern Sardinia territory, in terms of employment, tourism, GDP, social welfare and environmental sustainability. 

The incorporation of Nord Sardegna Aeroporti paves the way for the desired creation of a single business hub for the three Sardinian airports, aimed at strengthening the island's domestic and international connections for the benefit of its residents as well as the local economic system. 

The objective of the transaction approved by the two Boards of Directors is to significantly increase total passenger traffic – from 4.7 million in 2022 to 7 million in 2030 – and the connectivity of the Central-Northern Sardinia catchment area, making the most of the potential of the two airports in a coordinated manner, pursuing at the same time possible specialisations linked to their functional and territorial vocation, as well as operational and commercial strategies aimed at optimal use of the infrastructure and an offering of quality airport services. 

To this end, significant infrastructure investments are planned in both airports, relating to the development of capacity, safety, sustainability and innovation, and conducive to the expected growth of traffic and commercial activities.
The incorporation of Nord Sardegna Aeroporti therefore has a strong business value and is aimed at capturing the value creation potential of the two integrated companies after the challenging pandemic period. These important objectives will be pursued with the crucial support and involvement of all interested local and national stakeholders, in close coordination with the sector's institutions and in line with both the domestic and EU framework.

The shareholding structure of Nord Sardegna Aeroporti will remain substantially unchanged compared to the current structure of GEASAR and SOGEAAL: the majority of the share capital will therefore be held, directly and indirectly, by F2i Ligantia SpA, a company managed by F2i SGR and whose shareholders also include Fondazione di Sardegna. F2i, through its investee companies, is the country's leading airport manager, with traffic exceeding 65 million passengers on an annual basis.
The remaining shares will continue to be held by local public institutions represented by the Autonomous Region of Sardinia and by the Chambers of Commerce, Industry, Crafts and Agriculture of Sassari and Nuoro.