4 Investments and loans

Investments comprised the following as at the reporting date:

 

 

 

 

 

 

 

Company

 

Domicile

 

Share capital

 

Stake held in %

Airport Ground Services AG 1)

 

Kloten

 

CHF 100,000

 

100.0

Zurich Airport International AG 1)

 

Kloten

 

CHF 100,000

 

100.0

Yamuna International Airport Private Ltd. 2)

 

New Delhi

 

INR 15,269 million

 

100.0

Concessionária do Aeroporto Internacional de Florianópolis S.A. 2)

 

Florianópolis

 

BRL 304 million

 

100.0

Zurich Airport Latin America Ltda. 2)

 

Rio de Janeiro

 

BRL 581 million

 

100.0

Aeroportos do Sudeste do Brasil S.A. 2)

 

Vitória

 

BRL 571 million

 

100.0

Concessionária do Aeroporto Internacional de Natal S.A. 2)

 

Natal

 

BRL 155 million

 

100.0

A-port S.A. 2)

 

Santiago de Chile

 

CLP 16,139 million

 

100.0

Sociedad Concesionaria Aeropuerto de Antofagasta S.A. 2)

 

Santiago de Chile

 

CLP 3,600 million

 

100.0

Sociedad Concesionaria Aeropuerto de Iquique S.A. 2)

 

Santiago de Chile

 

CLP 600 million

 

100.0

Sociedad Concesionaria Aeropuerto Diego Aracena S.A. 2)

 

Santiago de Chile

 

CLP 10,700 million

 

100.0

A-port Operaciones S.A. 2)

 

Santiago de Chile

 

CLP 1,352 million

 

99.0

A-port Operaciones Colombia S.A. 2)

 

Bogotá

 

COP 100 million

 

99.0

Unique IDC S.A. de C.V. 2)

 

Tegucigalpa

 

HNL 0.2 million

 

99.0

Sociedade de Participação no Aeroporto de Confins S.A. 2)

 

Belo Horizonte

 

BRL 474 million

 

25.0

Concessionária do Aeroporto Internacional de Confins S.A. 2)

 

Belo Horizonte

 

BRL 907 million

 

12.8

Administradora Unique IDC C.A. 1)

 

Porlamar

 

VEB 25 million

 

49.5

Aeropuertos Asociados de Venezuela C.A. 2)

 

Porlamar

 

VEB 10 million

 

49.5

1) Direct investment

2) Indirect investment

The equity interests stated are also the share of the voting power in the investees listed.

Zurich Airport International AG, the wholly-owned subsidiary responsible for advising, operating and/or owning airports and airport-related companies throughout the world, holds all the investees existing in this context (with the exception of those in Venezuela).

In 2010, Zurich Airport Ltd. and its consortium partner Unique IDC turned to the International Centre for Settlement of Investment Disputes (ICSID) in Washington D.C. in the matter of the airport expropriated in Venezuela (Isla de Margarita). This step is in compliance with the investment protection treaty between Venezuela, Switzerland and Chile. The ICSID reached its decision in November 2014, requiring the Bolivarian Republic of Venezuela to reimburse the consortium the costs incurred for the proceedings and project plus a compensation payment and interest incurred up until receipt of payment. After an application for annulment was rejected, the tribunal’s decision is definitive and final. The value of this holding has been fully impaired.

Loans comprised the following as at the reporting date:

 

 

 

 

 

(CHF million)

 

31.12.2023

 

31.12.2022

Loans to Zurich Airport International AG

 

329.5

 

274.5

Total loans

 

329.5

 

274.5

During the reporting period, further loans of CHF 55.0 million were extended to Zurich Airport International AG for the purposes of financing international airport operator projects.