We have valued airports up and down the UK and across the globe, with scopes covering buildings, plant and equipment. We were recently reappointed for the valuation of the assets of two airports across an island in the Caribbean.

As the island continues to advance as a holiday destination the airport terminals have been extended to provide a domestics arrivals hall, departure lounge and VIP lounge. A whole new terminal is currently under construction to become the primary public international and domestic location, with the existing buildings to be utilised for private jets and helicopters.

Our client experienced a busy footfall all year round, but expected to see a tremendous increase in passengers arriving for the upcoming carnival, the first since Covid-19. Due to this event, the client wanted a current and correct reinstatement value for the assets.

Increased footfall is a growing potential risk for many airports, with passenger population set to increase to an estimated 8 billion number of air passengers by 2037 – double that of today. According to the International Air Transport Association, 96% of the world’s 100 busiest airports will likely see infrastructure related capacity issues within the next 10 years, and 45% are already dealing with weekly delays related to airport infrastructure.

Did you know the cost of ramp incidents at airports each year is $10 billion.

From environmental issues such as earthquakes and floodings, to runway collisions and traffic spikes that complicate the airport risk environment. Each airport faces a unique risk, which is why our process includes a detailed on-site survey, alongside our extensive cost database and reliable model of assessing reinstatement costs.

We helped our client by providing them with a detailed valuation report, which provided a breakdown of value together with a detailed asset register per airport. The valuation report identified the values for the areas of the airports. This split of values helps with EML and partial loss scenarios.