Bulgaria Airport Concessions

2002-2005 || U.S. Agency for International Development

Deloitte advisors worked with the Ministry of Transportation and Communications to develop and implement a strategic public-private partnership for Bulgaria’s international seacoast airports, and develop leading practices for Public Private Partnerships (PPP) in Bulgaria as a result. As part of this project, advisors developed legal amendments to the implementing framework supporting PPP and managed a stakeholder awareness campaign to build public support and understanding of the transactions. Advisors completed feasibility analyses, developed broad transaction documentation and advised Ministry leadership through the concession’s approval process and the transaction itself. The long-term concession transaction attracted the interest of major international airport operators and was concluded in June 2006 with a consortium led by Fraport, the international airport operating company of the Frankfurt Airport in Germany. The transaction was the first of its kind in Bulgaria and its success initiated a program of PPP that has since resulted in airports, ports and other transport infrastructure being structured as PPP operations. Many of the lessons learned have since been more broadly applied throughout Bulgaria’s emerging PPP program.