2016: significant events

Decision of the European Commission on the procedure undertaken to establish and capitalise Airport Handling

With its decision of July 5, 2016, transmitted to SEA by the Ministry of Transportation on July 19, 2016, the European Commission completed the investigation it had started in relation to the establishment and capitalisation of the Airport Handling company finding: i) the absence of economic continuity between SEA Handling and Airport Handling SpA, ii) the absence of transfer of the obligation to repay the incompatible state aid to Airport Handling SpA as well as iii) the lack of state aid in the establishment and capitalisation of the aforesaid company.

The Italian authorities transmitted the confidential information contained in the decision in order to prevent its publication in the OJEU, which at present has not yet occurred.


Sale of 30% of Airport Handling to dnata

Following the signing of the agreement in September 2015 between the Trustee and dnata for the sale of 30% of the Airport Handling SpA shares and the same percentage of Financial Instruments of Participation held by SEA and after the decision of the Anti-trust Authority, which ruled that the transaction did not result in the establishment of reinforcement of a dominant position on the market that eliminated or substantially and permanently reduced competition pursuant to article 6, paragraph 1 of Italian Law 287/90, the transaction was closed on March 23, 2016. As stated in the agreement, on the closing date dnata was assigned the majority of the members of the Board of Directors and therefore the governance of Airport Handling SpA. The agreement also includes an option for dnata to purchase, if certain conditions occur, an addition 40% of shares (call option) and a corresponding portion of FIP.


Sale of 60% of Signature Flight Support Italy Srl share (previously Prime Aviation Services SpA)

On April 1, 2016 the subsidiary SEA Prime SpA transferred 252 shares of Prime AviationServices SpA to Signature Flight Support Uk Regions Limited, keeping 40% of all the shares. Following the loss of control, the interest in Signature Flight Support Italy Srl was classified among associates and no longer subsidiaries and measured using the equity method rather than consolidated on a full line-by-line basis, as had been done until March 31, 2016. It should also be noted that on February 14, 2017 the shareholders' meeting of Prime AviationServices SpA decided to change its corporate status by changing from a joint stock company to a limited liability company and changing its name at the same time from Prime AviationServices SpA to Signature Flight Support Italy Srl.


Inauguration of the new railway station at Malpensa Terminal 2

On December 6, 2016 the new railway station was inaugurated at Malpensa Terminal 2, which completes the expansion project for the railway connection between Terminal 1 and Terminal 2 at the airport (a total of 3.6 km of double track), as an extension of the current railway connection from Milan. SEA's intervention was composed of the final design and construction of the station, which is developed on three levels: the lowest level corresponds to the platform level where the 4 tracks are; the intermediate level corresponds to the actual station which is connected to the other airport facilities such as the terminal, car park and bus stops; the highest level houses the new car parks in operation since August 2016.


Inclusion of Malpensa as one of the airports selected for “preclearance” controls

The government of the United States has selected Malpensa and 10 other airports in the world as those which can perform “preclearance” controls: passengers headed from Milan to the United States will go through Immigration, customs and agriculture inspections controls at Malpensa. The selection of Malpensa occurred following verification of the spaces of the infrastructure and assessment performed by a commission of specifically invited specialists on the management company's organisational capacity which supports the control operations of the American personnel. These meetings were followed by a preliminary approval by the Italian Ministry of the Interior.


Masterplan Linate and Masterplan Malpensa

Masterplan Linate - The Environmental Impact Study, correlated to the Linate 2030 Masterplan, was completed in December 2016, as planned. After technical approval from ENAC the Environmental Impact Assessment procedure was started by the Ministry of the Environment and is still in progress.

Masterplan Malpensa - Environmental type study and analysis continued for all of 2016 required to complete the documentation needed for a future Environmental Impact Assessment. A parallel programme continued at the same time to exchange the results of these studies and design guidelines will all local and national stakeholders. Activity also continued for in the field completion by a university group dedicated to naturalistic/fauna and noise and air pollution issues as well as those of the University of Pavia and Milan Politecnico University which respectively handle topics related to geology and water and the deep water table. The collaboration with CNR - IFC was completed and the Milan Clinica del Lavoro was involved on the "effects of the Master Plan on public health" issue, which is working positively in close collaboration with Bicocca University. Contacts with the Region of Lombardy are in place for maximum integration of data and social-health protections aimed at the current study.

Organisation of the masterplan airport technical project has been started and preliminary discussions with the reference authority (ENAC) have begun. The technical and environmental studies are expected to be completed in the first half of 2017.



In light of a possible merger between SEA and SACBO, the two companies signed a Memorandum of Understanding on November 27, 2015 where they mutually agreed, for the entire duration of the memorandum, to refrain from starting any negotiations with third parties for the transfer, or concentration with others, of the assets included in the transaction.

The Memorandum of Understanding had established June 30, 2016 as the deadline for holding the Extraordinary Shareholders’ Meetings of the two companies to vote on the merger transaction. The Boards of Directors of SEA and SACBO meeting on March 24, 2016 voted to extend the duration of the Memorandum of Understanding until October 31, 2016, therefore establishing within this deadline the date by which the Extraordinary Shareholders’ Meetings of the two companies must meet to vote on the transaction. The Memorandum of Understanding was not extended when it expired.