Time to assess LBC's options?
1. Do nothing.
With just 16 years left on the current concession, there's not enough time for any major works to generate a return on the investment. Abertis may tinker with this and that on the site, but the airport will basically stagnate.
2. Expand to 18 mppa within the existing boundary.
A longer concession would be needed, but the current one can't be extended without putting it out to tender. LBC would therefore have to break the current concession in 2014 and give the new operator a longer contract in order to provide a return on their investment. LBC is currently drawing up plans for that expansion - but will a new operator be happy to adopt them?
3. Expand later to 'full capacity' of the single runway (e.g. 35 mppa).
Most of the next concession would be needed to recoup the expenditure on the 18 mppa expansion, so growing the airport to 35 mppa would need a really long concession - and another tendering process. So the 18 mppa concession can't be offered over more than about 25 years - or it must contain another break clause at that point.