Catania Airport, revenues at 122 million (+18%) and governance frozen

The President of the Region, Renato Schifani, had to intervene to put an end, for the moment, to possible shake-ups in the governance of Sac, the company that manages Catania's Vincenzo Bellini airport and Pio La Torre airport in Comiso. He did so in a note that leaves no room for manoeuvre to those who for days have been calling for an end to the commissionership of the South-East Chamber of Commerce, the management company's main shareholder. The note, sent by Schifani to the commissioner of the South-East Chamber of Commerce Antonio Belcuore, is clear: 'I would like to draw your attention to the urgency of approving the body's budget.

The Sicilian governor called on the commissioner to refrain from making decisions on the governance of Sac, because 'this choice is up to the Chamber of Commerce's organs, once they have been reconstituted, to ensure adequate representation and respect for procedures'. Pending the reconstitution of the entity's ordinary bodies, the president made it clear that 'the current board of Sac will remain in office' and assigned Belcuore 'the onus to proceed with immediacy and urgency to the composition of the bodies by 31 August 2025'. Sac's top management, starting with CEO Nico Torrisi, therefore remain in place and this is a matter no longer on the agenda at the shareholders' meeting called for Saturday, 26 April. On the agenda, instead, is the approval of the balance sheet, the results of which have added significance in light of the start of the privatisation process that began almost a month ago. The key figures of the balance sheet certify the growth of the Etnean airport, which in 2024 recorded 12,346,530 passengers: turnover stands at 122 million with an increase of 18% compared to 2023, commercial revenues at 28 million, Ebitda at just over 25 million (+116%).

2025 is a decisive year for Etna's airport and the next few months are expected to be particularly hot for the start of privatisation procedures. On the plate is a stake of between 51% and 66% of the company's share capital: an absolute majority would guarantee control to the private partner, while keeping at least 34% in public hands would ensure veto power over strategic decisions. It is not yet possible to define a precise value for the operation: the price will be set by the market, based on objective criteria such as Ebitda - estimated at EUR 35 million in 2025 - the business plan, future investments (around one billion by 2030) and expected cash flows. An international call for expressions of interest is expected by June, with no indication of an auction base. An initial selection of players will follow. After the summer, the selected players will go through due diligence in order to submit binding offers by November.

Meanwhile, there is a focus on infrastructural growth. "We are aware,' says Torrisi, 'that we need space: some things we are doing, others, important ones, will be started in the coming months. Among the important things that will be started in the coming months is the demolition of the Morandi terminal, which has been talked about for years: "It will be started by the summer," says Torrisi. He then moves on to the construction phase of the new terminal. 'We are waiting to complete the procedure with Enac,' explains Torrisi, 'we have the final project and will proceed with the integrated tender. It is an intervention that will cost between 200 and 250 million'. The issue of spaces is also important to grow the budget chapter related to commercial spaces, parking and other services: "It is nothing new that there is interest from large national and international groups," says Torrisi. While waiting for major interventions, work has been done where it was possible to do so (in the next few weeks the new 400-square-metre VIP lounge will be inaugurated) and other interventions are being carried out that will make it possible to recover space: for example, the terminal's runway-side extension. The Delta flight to New York is scheduled to be inaugurated on 23 May, and this is another step towards the development of international routes: 'We are focusing a lot on international growth,' says Torrisi.