In general, the business model of the airport looks like this: the state builds the airfield itself, brings roads and railways to it, and announces a tender for the construction of the terminal. The investment company invests in the construction of the terminal and subsequently makes money on this asset.
Many have already appreciated this model and started working on it. It is worth remembering the airports of Nizhny Novgorod, Samara, Kaliningrad. According to estimates, these investments are very interesting in terms of payback - from 7 to 10 years.
The state plans to spend quite an impressive amount on the development of airfields - 172.5 billion rubles. Earlier, money was distributed to all airports in a small amount, insufficient for large-scale renovations. Now it is planned to operate according to the scheme: one airport was built - transferred to another. This will allow projects to be completed and actually improve transport infrastructure. Recently, Domodedovo and Sheremetyevo fought fiercely for subsidies for the construction of the third runway, since the more leased public infrastructure an airport has, the more assets the airport has to make money by providing services to aircraft operators.
An important role in the development of regional airports is played by the “governor's factor”, which are trying to attract investments into their own airport. And this is understandable, everyone wants to be greeted by a modern terminal when landing in the region.
The average profitability in the airport business is 30%. At the same time, it is worth distinguishing between the aviation and non-aviation components of this business. The aviation component is services for airlines, such as take-off and landing, aviation security, use of the terminal. There are high turnovers here, but low profitability, since many prices are controlled by the state. The non-aviation component is the lease of space for shops, cafes, offices. In terms of turnover, it is much less, but airports are trying to maximize revenue from these services.
Often, revenues from the non-aviation component exceed revenues from the aviation component. As, for example, in 2011 the income of Domodedovo airport from the aviation component received 21% of income, from the lease of premises 28%, and the remaining 51% from the storage and sale of fuel, on-board catering and services for air cargo transportation.