AIRTRANSPORTANNUALREPORT2012 - Archive

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IFCPROJECTHIGLIGHTS Mexico—VuelaAircraFinancing Vuela (branded Volaris) commenced opera ons on 13 March 2006. It inially operated fiverouteswithfouraircrathroughoutMexi cofromitsbaseatAeropuertoInternacionalde Tolucabuthasplanstogrowsignificantlyover thenextdecade,withaplannedfleetof90air craincludingAirbus319,A320andA320Neo. Vuela will provide substanally discounted faresinamarkethistoricallymarkedbylimited compeonandhighfares.Thiswillsmulate demandandmakeairtransportaonaccessible for a larger share of the Mexican populaon, promoteconnecvity,andeconomicgrowth. The IFC investment is an IFC revolving credit lineof$30millionforthefinancingofaircra predeliverypaymentsanda$10million. Colombia—AviancaAirlineFleetRenewal Aerovias del Connente Americano S.A. (Avianca)isoneofthelargestairlinesinLan America and the largest in Colombia, oper angfromitsmainbaseatElDoradoInterna onal Airport in Bogota. The company pro vides scheduled services to 21 internaonal desnaons(inEuropeandtheAmericas)and 21 domesc desnaons. Avianca has five code sharing agreements with internaonal carriers (Iberia, Mexicana, Delta, Air Canada andTaca). Aviancaisplanningtorenewitsfleetoverthe period 20082012 to reduce costs, improve eciencyandsafetyaswellasprovidebeer passengerservice.Thecompanyhasnegoat edthepurchaseof42aircraoverthenext5 years(includingatleast12Boeing787sanda numberofAirbus319/320/330s)toreplaceits MD83 and Boeing757/767 aircra. IFC is to providefinancingofupto$50milliontoAvian ca and its subsidiaries, Sociedad Aeronauca de Medellin Consolidada S.A (SAM) and Avia on Leasing Services Investment S.A. (ALS) to help finance the implementaon of the company’sfleetrenewalprogram. 27
Africa—AKFEDAviaon TheAgaKhanFundforEconomicDevelopment (“AKFED”), through its Aviaon Services divi sion,iscurrentlyexpandingitsacviesinboth EastandWestAfrica.Theaimofthedivisionis toassistinmaintainingthecricalaviaonin frastructure in support of economic develop mentandtoprovidemuchneededregionalair line services in Africa. IFC’s involvement with the organizaon includes a corporate loan of upto$25milliontoAKFEDforonlendingtoits three airlines: Air Burkina, Air Mali and Air Uganda.ThisallowsAKFEDtoconsolidateallof theDivision’sairlinesandaviaonacviesand opmize roung, synergies and overall eec venessacrossthegroup’sairlineoperaons. The proposed project is expected to promote interregional and internaonal trade in the region. Addionally, the Project is also ex pected to provide a boost to tourism. Conn ued trade and economic growth in Africa is conngent on further investments and im provementsinregionaltransportinfrastructure and services. The division’s operaon will fill theservicegapthatexiststodayandwillresult in increased frequencies for exisng desna ons as well as the addion of new desna ons, beer passenger service and improved eciency and safety. Such improvements will increasetheconnecvity,compevenessand aracveness of these countries’ economies. Moreover, the proposed project will support regional integraon by assisng the develop mentandexpansionofagroupofregionalair lines. IFCPROJECTHIGLIGHTS Nepal—BuddhaAirPrivateLtdIandII Air connecvity is a key requirement in Nepal givenitsdicultterrainandpoorroadnetwork andstrongdomescairlinesareneededtopro videreliableandsafeairservices.Withtourist arrivalsinNepalgrowingat12%annuallysince 2006,withNepalincreasinglyfocusingontour ismrevenuesandwithaGDPgrowingat~4.5% p.a.,therequirementfordomesc/touristair lineseatsisexpectedtogrowfurther. BuddhaAirPrivateLimitedisacloselyheldpri vate limited company providing air services since1997.BAPLcurrentlyhas357seatsacross a fleet of three Beechcras (18 seats), three ATR42s(47seats)andtwoATR72(72seats). The expansion to its current fleet had been parally financed by an IFC corporate loan of $US10MillioninFY09.BAPLhada42%market share by passengers in the first half of 2011, and was the first one to bring in larger 45 seater turbo prop aircra for domesc routes inNepalandalsothefirsttoflytoBhutanand totownsacrosstheIndianborder. For the followup project Buddha Air II, IFC is providing financing of $6.9 million to BAPL to nowpurchaseitssecondATR72, whichithas takenonleasesinceSeptember2011,atacost of$8.6million.IFC'swillalsohelptheCompany enhance safety standards and undergo IATA IOSAaudit.financedwithaUS$6.9millionloan. 28
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Page 5 and 6: TABLEOFCONTENTS ExecuveSummary…
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Page 9 and 10: WORLDBANKAIRTRANSPORTPORTFOLIO Air
Page 11 and 12: Country ProjectID Code ProjectFullN
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Page 17 and 18: AFRICA WestandCentralAfricaSafetyPr
Page 19 and 20: TanzaniaSecondCentralTransportCorri
Page 21 and 22: Democrac Republic of Congo MulModal
Page 23 and 24: LATINAMERICAANDCARIBBEAN GrenadaReg
Page 25 and 26: EASTASIAANDPACIFIC PacificAviaonInv
Page 27 and 28: SOUTHASIAREGION Pakistan-SecondTrad
Page 29 and 30: TheIFC,whichprovidesfinancingtopriv
Page 31: Type IFC’sExposureof 30June2012 C
Page 35 and 36: Kenya—KenyaAirwaysExpansionPlan K
Page 37 and 38: In certain cases, a blend of firstp
Page 39 and 40: IFCAdvisoryProject:ConcessionofMal
Page 41 and 42: Ecuador-NewAirportatQuito MIGA issu
Page 43 and 44: GlobalAviaonStrategySummit(Berlin,G
Page 45 and 46: Air Transport Brown Bag Luncheon—
Page 47 and 48: Air Carrier Advisory System for Wor
Page 49 and 50: AbouttheWorldBankGroup TheWorldBank

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