ANNUAL REPORT ‘12
NOTES TO THE FINANCIAL STATEMENTS
175
an amount corresponding to a percentage of the gross income from the concession, which varies between 1 and
10% according to the defined time intervals.
Under the Concession Contract, ANA, S.A. assumes specific obligations for development, including the maintenance
of the airports in good operating conditions, assuming the total and exclusive responsibility for the operation, repair,
replacement, maintenance and management of airports, and in particular:
a) Maintain the runways, aprons, taxiways and cargo and mail infrastructures, as well as all the areas of the airport
essential to the secure access to air transports, in conditions that are at least equal to those at the date of the
contract;
b) Maintain all the passenger terminals at a C service level, according to the IATA manual;
c) Keep airports free from any environmental damage resulting from the concession activity;
d) Guarantee on the expiration date of contract, the delivery of the assets allocated to the concession in operating
conditions that meet the minimum reversion conditions.
Financing
As concessionaire, ANA, S.A. assumes full financing of the concession, which may be renegotiated as long as the
coverage ratio of the Debt Service and Refinancing is met.
Income and rebalancing of the concession
The concession income consists of proceeds from fees charged by the Concessionaire in return for providing airport
activities and services, and includes income from commercial or other activities related to the management of the
concession.
The fees charged under the provision of public service are regulated by INAC - Instituto Nacional de Aviação Civil,
P.I., which sets the maximum values that can be put into practice.
The concessionaire assumes complete responsibility for all the risks inherent in the concession, rebalancing only
being permitted in those cases expressly provided for in the contract. Rebalancing can take one or more forms:
a) Change in the fees subject to economic regulation;
b) Attribution of co-payment or direct compensation by the grantor;
c) Extension of the concession period; or
d) Any other form agreed upon between parties.
At the end of the concession, all the concession assets revert to the grantor, with the concessionaire retaining no
rights of indemnification, except for investments greater than 30,000,000 euros made in the last 5 years of the
