Groupe ADP has presented a draft Economic Regulation Contract (CRE) covering 2027 to 2034, aimed at supporting the transformation of Paris’ airports and enhancing the competitiveness of France’s air transport hubs.
The proposal comes as the French air transport sector faces multiple pressures, including the need to reduce carbon emissions, respond to regulatory and fiscal constraints, and maintain growth in passenger traffic. In response, Groupe ADP is planning a long-term investment programme totalling 8.4 billion EUR.
The investment is intended to expand capacity, improve operational efficiency, and strengthen the appeal of Paris as a hub in the European and global airport network.
The CRE emphasises a phased and modular approach to development, with gradual expansions designed to limit disruption and ensure economic sustainability. Over the eight-year period, the programme is expected to create capacity for an additional 18 million passengers, while focusing on cost management within the regulated scope.
Groupe ADP has targeted cost savings of approximately 130 million EUR by 2034, aiming to limit regulated cost growth to the harmonised consumer price index (CPI) plus 1.2 points annually, compared with a projected trajectory of CPI plus 2.4 points.
The draft CRE proposes a regulated return on capital invested aligned with the weighted average cost of capital, at an average of 5.9% over the contract period. Tariffs for airlines are expected to rise by CPI plus 2.6 points on average, reflecting the scale of planned investments while remaining competitive relative to other European hubs. Complementary mechanisms are also included to distribute risks fairly across the multi-year programme.
Philippe Pascal, Chairman and CEO of Groupe ADP said:The industrial project we are undertaking today is essential to guaranteeing the sustainable and long-term development of Parisian airports: to successfully transform Parisian airports, decarbonise the sector, and increase competitiveness in Paris for the entire airport ecosystem. This is our responsibility and our core business.
To achieve this transformation, the planned historic investments—more than €1 billion per year on average for eight years—would be financed by a new economic regulation contract. The draft contract presented seeks to strike the right balance between an unprecedented level of investment, the profitability of which is both guaranteed and capped by law, and tariffs applicable to airlines that, after the proposed increase, will remain at the lower end of the range compared to our competitors.
The proposal forms part of Groupe ADP’s broader strategic approach, with a future plan in 2027 expected to outline long-term value creation and the group’s role as a contributor to France’s economic, social, and territorial objectives.
