AeroSphere Business Plan › Section 6 › Revenue-Stream Economics

To support the credibility of the consolidated projections, this
section sets out the economic logic of each principal revenue stream —
its driver, pricing basis, margin profile and scaling behaviour. The
streams are deliberately staggered so that lower-capital,
faster-yielding lines (passenger charges, parking) precede higher-value,
longer-lead lines (property, MRO).

5A.1 Aeronautical Revenue

Aeronautical revenue comprises landing charges, passenger-service
charges and aircraft parking, billed to airlines and passengers on a
per-movement and per-passenger basis. While regulated in spirit and
benchmarked against competing airports, AeroSphere’s cost efficiency
allows competitive pricing that still yields attractive margins at
scale. This stream is the most directly correlated with passenger and
movement volumes (Section 8.1).

5A.2 Cargo & Cold-Chain

Cargo revenue combines handling fees, terminal charges and —
critically — high-margin temperature-controlled storage for perishables
and pharmaceuticals. Cold-chain capability commands a yield premium and
anchors long-term forwarder relationships. With African cargo demand
leading global growth, this stream offers both volume and pricing
upside, and it catalyses the adjacent logistics property estate.

5A.3 Property & Aerotropolis Leasing

Property is the highest-quality earnings stream: long-dated leases
with contractual escalation, low marginal operating cost, and capital
appreciation on the underlying land. As occupancy of the logistics,
business-park and retail precincts builds, property shifts from a
development cost to the dominant driver of non-aeronautical margin and
terminal value.

5A.4 Retail, Parking & Concessions

Retail and food-and-beverage concessions, duty-free and vehicle
parking convert passenger throughput into high-margin, low-capital
revenue. Base-plus-turnover concession structures align tenant
incentives with passenger growth, while parking yields scale directly
with traffic. International evidence — including double-digit growth in
retail and property income even at the state operator — confirms the
strength of this value pool.

5A.5 FBO, MRO & Fuel

Premium FBO services, aircraft maintenance and fuel into-plane
services round out the model. These streams are relationship-driven,
high-retention and relatively insulated from scheduled-airline price
cycles, providing stability and supporting long-term hangar and land
leases.

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.