AeroSphere — Appendices
Supporting appendices — the selected industry data and sources, the glossary and definitions, and the contact and next steps underpinning the AeroSphere business plan and financial model.
Section 18 · Business Plan
Appendices
Supporting appendices — the selected industry data and sources, the glossary and definitions, and the contact and next steps underpinning the AeroSphere business plan and financial model.
Appendix A — Selected Industry Data & Sources
The following indicators informed the market analysis and projections
in this Business Plan. They are drawn from publicly available industry
reporting and are presented for context; recipients should verify
current figures independently as part of their due diligence.
| Indicator | Reported value | Source category |
|---|---|---|
| SA network passenger recovery (2025/26) | ~98–99% of 2019 peak | National airport operator |
| December 2025 monthly passengers | ~4.0 million (+8% YoY) | National airport operator |
| Record single-day passengers (Dec 2025) | 143,135 | National airport operator |
| Cape Town International (2025) | >11.1 million pax | National airport operator |
| George Airport (2025) | ~911,000 pax | National airport operator |
| ACSA FY2025 revenue / EBITDA | ~R7.9bn / ~R2.9bn | National airport operator |
| Non-aero retail / property (FY2025) | ~R1.2bn / ~R1.0bn | National airport operator |
| Africa 20-yr passenger CAGR | ~4.1% | Global aviation body |
| Africa long-run passengers (forecast) | ~345–411 million | Global aviation body |
| Africa air-cargo demand growth (2025) | ~6% full year; led regions | Global aviation body |
| Leading private airport (current pax) | ~1.9 million | Industry reporting |
| Leading private airport (targets) | 6m by late 2020s; 18m by 2050 | Industry reporting |
Note on figures. All financial projections in this
document are illustrative management estimates prepared for evaluation
purposes and are subject to the assumptions and risk factors described
herein. Industry statistics are summarised from public sources as at the
date of preparation and may have changed.
Appendix B — Glossary & Definitions
| Term | Definition |
|---|---|
| Aerotropolis | An urban/economic development planned around an airport as its commercial core |
| Aeronautical revenue | Income from aircraft and passenger charges (landing, parking, passenger-service) |
| Non-aeronautical revenue | Commercial income from retail, property, parking and services |
| CAGR | Compound annual growth rate |
| DSCR | Debt-service coverage ratio: cash available to service debt divided by debt service |
| EBITDA | Earnings before interest, tax, depreciation and amortisation |
| FBO | Fixed-base operator: provider of services to private/business aviation |
| IRR | Internal rate of return |
| MOIC | Multiple of invested capital |
| MRO | Maintenance, repair and overhaul of aircraft |
| SACAA | South African Civil Aviation Authority |
| SADC | Southern African Development Community |
| TAM / SAM / SOM | Total / serviceable available / serviceable obtainable market |
Appendix C — Contact & Next Steps
AeroSphere Gateway Holdings welcomes engagement from qualified
lenders, equity investors and development-finance partners. Indicative
next steps toward financial close are set out below.
- Execution of confidentiality and exclusivity arrangements with
shortlisted investors. - Access to the full data room, including technical, legal and
financial due-diligence materials. - Management presentations and site assessment.
- Term-sheet negotiation across the senior, mezzanine and equity
tranches. - Confirmatory due diligence, documentation and financial
close.
This Business Plan is confidential and is provided for
evaluation purposes only. All projections are illustrative management
estimates subject to the assumptions and risk factors described
herein.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of AeroSphere Gateway Holdings (Pty) Ltd.