In The News

Toll revenue, traffic decline for Abertis

The Spanish company that attempted to lease the Pennsylvania Turnpike a year ago has reported a decline in traffic and toll revenue within its worldwide network.

Abertis, which partnered with U.S.-based Citibank in 2008 to pledge $12.8 billion in an unsuccessful bid for the Pennsylvania pike, reported a 5.7 percent decline in toll traffic from April 2008 to April 2009.

Traffic was down 8.8 percent in the first quarter of 2009 for assets outside the company’s native Spain according to Abertis’ Web site. Toll traffic in Spain was down 12.9 percent.

Company toll revenue declined 1 percent during the first quarter of 2009. Abertis noted in its statistical analysis that the first quarter of 2008 had an extra day because it was a leap year and that Easter fell in March in 2008 and in April in 2009.

Abertis does not currently operate any toll roads in the U.S. but has bid on a few – most notably in Pennsylvania. Company officials stated back in 2006 that they hoped to tap into the U.S. toll road market.

Seventy-three percent of Abertis’ earnings are from toll roads. The company and partner Sanef boast a network of 4,171 miles, or 6,713 kilometers, of toll roads.

Abertis abandoned a $33 billion merger with Italian-based Autostrade in 2006, which would have formed the world’s largest toll road operator.

Abertis’ holdings also include car parks and telecommunications, most of which are in Europe.

[email protected]