Toscana Aeroporti

What Toscana Aeroporti does

Toscana Aeroporti S.p.A. is the regulated manager of the Tuscan airport system, operating Florence Airport Amerigo Vespucci and Pisa Airport Galileo Galilei as a complementary dual-airport platform. The company was formed on June 1, 2015 through the mandatory merger of AdF (Florence) and SAT (Pisa) pursuant to the Italian National Airport Plan, and holds the ENAC-granted concession that gives it effective monopoly rights over commercial aviation infrastructure in the Tuscany region. Florence specializes in full-service carrier business and leisure traffic connecting to European hubs, while Pisa specializes in low-cost carrier, cargo, and intercontinental routes; together the system handled a record 9.8 million passengers in 2025 and targets 130+ destinations, 45 airlines, and 160 daily frequencies by 2029. In 2025 the company also assumed operational management of Elba Airport, extending the platform to a third facility.

The underlying asset base consists of terminal buildings, runways, aprons, security and baggage-handling infrastructure, and adjacent real estate at two main airports. Revenue is generated through two channels: regulated aviation charges (landing and departure fees per tonne, passenger boarding fees of approximately €11.05 (EU adult) and €13.39 (extra-EU adult), parking, cargo at €0.246/kg, check-in counter fees, and passenger security fees of €1.73), and non-aviation streams including retail and F&B subconcessions, advertising, real estate leasing, parking, and VIP services. Pricing is set under ENAC oversight with annual consultation of airport users, and go-to-market is primarily direct negotiation with airlines supplemented by a Network Development Policy incentive program. The company also expanded its fuel infrastructure footprint in 2026 by acquiring a 49% stake in Jet Fuel to consolidate Pisa and Florence fuel depots under a single industrial operator.

The customer base is concentrated around two anchor carriers: Ryanair at Pisa (27-year incumbent, 9 based aircraft, 55 million cumulative passengers, 58 summer routes) and Volotea at Florence (base carrier since 2023, expanding from 1 to 2 based aircraft and 16 routes in 2026). FY net profit was €16.1 million, and a €181.3 million SACE-guaranteed loan signed in May 2024 funds an €80 million Pisa terminal expansion with phase 1 targeted for summer 2026. Capital stock is €30,709,743.90 across 18,611,966 ordinary shares traded on the Italian stock exchange; major shareholders include Corporacion America Italia and local public entities (Comune di Pisa, Provincia di Pisa, Camera di Commercio della Toscana Nord Ovest). The company is headquartered in Florence and reports 251–500 employees, with multiple ISO certifications (9001, 14001, 45001, 50001, SA8000) and Airport Carbon Accreditation Level 3 achieved at both Pisa and Florence in 2025.

Name

Toscana Aeroporti

Legal name

Toscana Aeroporti S.p.A.

Website

https://toscana-aeroporti.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Toscana Aeroporti S.p.A. is the ENAC-concessioned manager of Florence Amerigo Vespucci and Pisa Galileo Galilei airports, operating them as a complementary dual-airport platform serving 9.8 million annual passengers via airlines (anchored by Ryanair at Pisa and Volotea at Florence), subconcessionaires, and commercial tenants.

Ownership category

akta.pro rank

Product category

Airport Management Services

NAICS

Airport Operations (48811), Other Airport Operations (488119)

SIC

Airports, Flying Fields & Airport Terminal Services (4581)

akta.pro primary industry

Aviation Infrastructure Agencies (Public Airports, Airfield Ops, Ground Access) (BPAIALAE)

akta.pro secondary industry

Passenger Terminal Facilities Management (Cleaning, Maintenance, Utilities) (TLAHAEAK)

Keywords

• Airport management services
• Aviation ground handling
• Passenger terminal operations
• Regulated airport charges
• Airport retail leasing

Headquarters

HQ city

Rome

HQ country

Italy

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Aviation fees (regulated airport charges): Revenue from regulated airport charges including landing fees (per tonne per movement), passenger boarding fees (EU/extra-EU, adult/child), cargo fees, parking fees, check-in counter fees, and security charges. Fees are regulated by ENAC and subject to annual consultation with airport users.
2. Retail and advertising (Non-Aviation): Revenue from commercial spaces (retail, F&B) leased to subconcessionaries at Pisa and Florence airports, targeting passengers, escorts, and airport community members. Advertising spaces within terminals provide additional non-aviation income.
3. Real estate and property management: Revenue from leasing offices, parking areas, and commercial spaces in airport-adjacent zones at Pisa and Florence to businesses and aviation operators.
4. Subconcessions: Revenue from subconcession agreements for specialized services including retail, food & beverage, currency exchange, car rental VIP reception, baggage wrapping, fuel distribution, and bus services at both airports.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Toscana Aeroporti S.p.A. manages and operates two Italian airports—Florence (Amerigo Vespucci) and Pisa (Galileo Galilei)—providing integrated passenger terminal operations, runway and airfield management, security, baggage handling coordination, and ground handling services. The company also generates non-aviation revenue through retail and advertising space leasing, real estate rentals, parking, VIP services, and subconcession agreements for F&B, currency exchange, car rental, and fuel distribution. The airports are differentiated: Pisa focuses on low-cost carriers, cargo, and intercontinental routes; Florence focuses on full-service carriers for business and leisure hub connections.

Product overview

Toscana Aeroporti S.p.A. operates as a unified airport management company for Florence (Amerigo Vespucci) and Pisa (Galileo Galilei) airports, formed on June 1, 2015 from the merger of AdF S.p.A. and SAT S.p.A. The core offering is integrated airport operations covering passenger terminals, runways, air traffic control coordination, and security. Revenue streams include regulated aviation charges (landing, departure, passenger boarding, cargo, and security fees) and non-aviation services (retail & advertising space leasing, real estate, VIP services, parking reservations, and subconcession of commercial spaces). The company also pursues network development through airline incentive programs and manages ESG/sustainability initiatives. The company does not offer a public-facing digital platform or SaaS product — its core offering is physical airport infrastructure management.

Differentiator

Problem solved

Functional benefit

Products and services

• Airport Management System (Florence & Pisa) Unified airport management of Florence Amerigo Vespucci and Pisa Galileo Galilei airports, covering passenger terminal operations, runway and airfield management, security, baggage handling coordination, and ground handling across both facilities.
• Aviation Services (Regulated Airport Charges)

Quantifiable outcome

• 2025 traffic: 9.8 million passengers (+8.4% YoY). Q1 2026: 1,749,286 passengers (+7.1%).
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Jet Fuel (Air BP / Carboil joint venture)majorStrategic or Co-development Partner · 27 May 2026Toscana Aeroporti signed an investment agreement on May 27, 2026 with Jet Fuel, Air BP Italia S.p.A., and Carboil S.r.l. for the rationalization and industrial integration of fuel depot management at Pisa and Florence airports. The transaction involves Toscana Aeroporti acquiring 49% of Jet Fuel, contributing Pisa fuel depot, and consolidating Florence fuel depots into a single operator.
• VoloteacoreStrategic or Co-development Partner · 29 October 2025Volotea is the primary base carrier at Florence Amerigo Vespucci airport since 2023. The partnership has grown from 1 to 2 based aircraft in 2026, with 16 routes planned (to Italy, France, Spain, Germany, Czech Republic) and 470,000+ seats (+21% vs 2025). Volotea is also main sponsor of the Volare Festival del Volo. The partnership includes joint marketing initiatives, cultural sponsorships, and coordinated network development between Florence and Pisa.
• RyanaircoreStrategic or Co-development Partner · 14 October 2025Ryanair is the dominant carrier at Pisa Galileo Galilei airport, operating for 27 years since 1998 with 55 million cumulative passengers. The winter 2025 operativo includes 37 routes (2 new: Amman, Warsaw) with 8 based aircraft representing $800M investment. Supports 3,600+ local jobs. Ryanair and Toscana Aeroporti are collaborating on Pisa terminal expansion (€70M investment, summer 2026 completion of phase 1).
• AlatoscanaminorStrategic or Co-development Partner · 20 June 2025Toscana Aeroporti assumed industrial management of Elba Airport in 2025 as its first season under new management. Alatoscana remains the concession holder while Toscana Aeroporti provides operational management. Seasonal routes connect Elba to Pisa, Florence, Milan Linate, and European destinations (Mannheim, Friedrichshafen, Altenrhein, Bern).
• AssaeroportiminorStrategic or Co-development Partner · 20 June 2025National association of Italian airport operators. Toscana Aeroporti participates in joint initiatives including Airport Day (17 Italian airports) and the Gardensia AISM charity campaign.
• Le Nozze di FigarominorGTM or Marketing Partner · 8 May 2025Co-organizer of the 'Volare – Festival del Volo' annual event held in Florence. Toscana Aeroporti and Le Nozze di Figaro jointly organize the 4th edition of the flight festival featuring hot air balloons, flight simulations, and aviation education activities.
• Certifying bodies (SINCERT, ACCREDIA)minorOthers · 1 January 2025Toscana Aeroporti holds multiple ISO certifications maintained through accredited certification bodies: ISO 9001, ISO 14001, ISO 45001, ISO 50001, and SA8000, audited by SINCERT and ACCREDIA.
• Airport Carbon Accreditation ProgrammeminorOthers · 1 January 2025International programme for airport carbon accreditation. Both Pisa and Florence airports achieved Level 3 Optimisation certification in 2025.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• SAVE (Venice Airport / Gruppo SAVE): Manages Venice Marco Polo and Treviso airports, operating the same dual-airport LCC/full-service model for the Veneto region under ENAC oversight. Closest structural analog to TYA's Pisa+Florence combination.
• Aeroporti di Roma (ADR): Italy's largest airport operator (Fiumicino and Ciampino). Directly comparable as a publicly listed Italian airport management business running multiple airports under ENAC-regulated tariffs with similar aviation/non-aviation revenue streams.
• SEA Milan Airports (SEA Prime): Operates Milan Malpensa and Linate under a unified governance comparable to Toscana Aeroporti's Florence+Pisa structure, with similar passenger boarding, cargo, and regulated tariff revenue mechanics.
• SACBO (Bergamo Orio al Serio): Bergamo airport is one of Italy's largest low-cost carrier bases, serving a similar role to TYA's Pisa in the LCC ecosystem. Comparable in scale, route mix, and Ryanair-style anchor carrier dependency.

Regional players

• Aeroport de Barcelona-El Prat (AENA network): Spanish regional hub under AENA's network with significant leisure/business traffic from European destinations. Comparable in profile to Florence as a full-service hub feeding tourism markets.
• Aéroports de la Côte d'Azur (Nice): Privately held regional French airport operator serving leisure/business Mediterranean traffic. Comparable as a regional European airport operator with regulated fees and dependence on inbound tourism flows.
• GESAC (Naples Airport): Operates Naples Capodichino under Italian ENAC regulation, serving southern Italy leisure and business traffic. Comparable mid-tier Italian airport operator competing for similar tourist flows.
• TAV Airports Holding (Istanbul Sabiha Gokcen): Operates Istanbul Sabiha Gokcen, a leading LCC-focused airport under a Turkish concession model analogous to TYA's Pisa positioning. Comparable in LCC-heavy carrier mix and route development economics.

Broad incumbents

• Fraport AG: Global listed airport operator (Frankfurt plus international portfolio). Comparable across regulated aviation tariffs, non-aviation (retail/real estate) revenue, and ENAC-equivalent regulated framework, albeit at significantly larger scale.
• AENA (Spain): World's largest airport operator by passenger volume, operating a network of Spanish airports under regulated tariffs. Comparable in dual-airport asset model, regulated fee structure, and non-aviation retail/real estate focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/toscanaeroporti
• LinkedInlinkedin.com/company/toscana-aeroporti

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toscana Aeroporti