经济学人下载:机场私有化或成必要趋势

Business
商业

Airport privatisation
机场私有化

Runways required
跑道待增

Private investors can make airports bigger, but not big enough
私人投资者能使机场扩大，但尚不够大

Down from heaven and into arrival hell
自天堂而下至地狱

With their crowds, delays and retail opportunities, airports impart feelings that range from irritation to despair.
人潮拥挤，班机延误，以及零售商机，机场带给人一种从愤怒乃至绝望的气息。

The experience is likely to get worse.
这种感受还将变本加厉。

Over the next 20 years the number of jets circling the planet is set to double, but investment in airports probably won't.
在未来的20年里，环绕地球飞行的喷射机数量定会翻倍，但对机场的投资却不然。

In Europe twice as many passengers are expected to squeeze through 41% more capacity.
在欧洲，多达两倍的乘客将在只增长41%的机场容量里挤进挤出。

One reason why airports are grim is that many are state-owned.
机场形势如此严峻的一个原因是，许多机场是国营的。

Of the world's 30 busiest ones, 19 are state-owned and most of the rest are public-private partnerships.
在世界上最繁忙的30个机场中，就有19个是国有的，余下的许多是公私合营。

In the past they were administered rather than managed to serve state-owned airlines,says Andreas Schimm of Airports Council International, an umbrella body.
机场的协调组织—国际机场协会ACI的Andreas Schimm说，在过去，机场都是 接受管理而非自主运营，为国营航空公司服务。

Governments now try to run airports on commercial lines, but few do it well.
如今政府已在机场试营商业航线，但成效不佳。

Privatisation could help.
私有化也许能为此推波助澜。

Incheon and Cheongju airports in South Korea are likely to seek private investors soon.
南韩的仁川机场和清州机场可能很快就会寻求私人投资者。

So are Munich, Moscow's two smaller airports, France's regional airports and a host of others.
慕尼黑机场、莫斯科的两个小机场、法国的一些地区性机场以及其它等地的一众机场，都有可能紧随此流。

Even in America, where complicated federal rules discourage either selling or buying airports, a scheme to privatise Chicago Midway and four other airports is picking up speed again.
即便是在美国，复杂的联邦制度一向不鼓励买卖机场，将芝加哥中途机场和其余四个机场私有化的计划也加快了进程。

In Brazil, however, an effort to woo private cash to spruce up shabby airports before the football World Cup is stalling.
但是，在巴西，在足球世界杯前寻求私人资金以重新打造破旧机场的努力已被搁置。

An airport ought to be a sound investment.
机场必须是一项可观的投资。

BAA, which runs Britain's biggest airports, has coined it.
BAA，是英国最大机场的持有者，造就了这个观念。

Eyebrows were raised when Macquarie, an Australian bank, bought Sydney airport in 2002.
一家澳大利亚银行Macquarie于2002年收购悉尼机场时，人们大为诧异。

But it quickly boosted revenues and profits.
但这项投资很快就创造了收益和利润。

The release value of taking public assets private can be enormous, says Peter Morris of Ascend, a consultancy.
咨询机构Ascend的Peter Morris说，购置公共资产的产出值可能是巨大的。

Investors could now be more wary, however.
然而，投资者现在有理由更谨慎些。

Empty public coffers might encourage governments to demand too high a price.
空空如也的国库也许促使政府要价更高。

The liberalisation of air travel has increased competition between big hubs, especially in Europe and the Gulf.
航空旅游的自由化加大了大型机场间的竞争，特别是在欧洲与海湾。

And the soaring growth of low-cost airlines has added to the pressure.
而且，低成本航线的迅速发展带来了额外的压力。

Budget carriers are far more flexible and ruthless than their full-fare competitors.
廉价航空公司要比全票价的竞争者更加灵活且不留情面。

If business sags or landing fees rise, they will drop an airport as surely as a baggage-handler will drop a bag marked fragile.
如果收益减少或者降落费上涨，投资者将会放弃机场，就如同行李管理者放弃一个标志着易碎的袋子一样毫不犹豫。

Privatisation can improve efficiency and service quality.
私有化可以改进效率和服务质量。

But passengers may face other torments. Airports earn just 18% of their revenues from airlines, according to ACI.
但乘客也许会遭遇其它苦恼。根据ACI的说法，机场从航空公司的总收入中只赚取到18%。

The rest comes from passenger fees, parking charges, rent from retailers and so on.
其它利润来自于乘客的费用、停车费、零售店的租金等等。

Rather than squeezing airlines, which can fly away, it is more tempting to go after passengers, who are hemmed in by metal detectors and armed police.
与其从航空公司中榨取，不如从乘客身上获利，这样做更诱人些，因为前者可以撤离，而后者则受制于金属探测器和武装警察。

Airlines grouch that landing fees always rise at privatised airports.
航空公司抱怨说，私有化机场的降落费一直都在涨。

Giovanni Bisignani, the boss of IATA, a group that represents airlines, argues that the best airports are those with good managers and tough regulators, and that ownership matters less.
代表航空公司的组织——国际航空运输协会的老板Giovanni Bisignani辩称，最好的机场是那些配备了上佳管理者和强硬监督者的机场，所有权在谁手里倒是其次。

But regulations will surely have to weaken to attract private money.
但要想吸引私人资金，规章条例必须得弱化。

By some estimates $1 trillion of new investment will be needed over the next two decades to match airport capacity to flight plans.
按照一些估算，未来20年里需要1万亿美元的新投资，才能使机场容量与飞行计划相称。

Yet there are barely a dozen airport groups that might be tempted to bid for the terminals and runways on the block.
然而，仅仅有十多个机场可能会在拍卖中竞购停机场和跑道。

They are unlikely to raise enough cash to keep pace with the rising volume of passengers.
这些机场不可能筹集得到足够资金去适应不断增长的乘客流量。

The queues will only grow longer.
机场的排队只会变得更长。