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New ICAO publication (Doc 10170)

Doc 10170, Manual on Economic and Financial Analyses for Aviation Infrastructure Projects. First Edition, 2022


At the Fifth Joint Meeting of the Airport Economics Panel (AEP) and the Air Navigation Services Economics Panel (ANSEP) (AEP-ANSEP/5), held in May 2015, a working group was established to develop guidance material incorporating recommendations made by the Multi-disciplinary working group on the economic challenges linked to the implementation of the aviation system block upgrades (MDWG-ASBU) on: a) cost-benefit analysis, business case study and economic impact analysis, and b) financing scheme (recommendation AEP-ANSEP/5-1/1 refers). The Sixth Joint Meeting (AEP-ANSEP/6), held in May 2017, further recommended to develop a standalone guidance document on economic and financial analyses. In December 2021, the guidance document was adopted by the Eighth Joint Meeting (AEP-ANSEP/8).


The objective of this manual is to provide practical guidance to States, airport managing and operating entities, air navigation services providers and designated charging and regulatory authorities in conducting analysis to support investments decisions in aviation infrastructure.


The manual provides an overview on how to conduct economic and financial analyses for aviation infrastructure projects, with a particular focus on cost-benefit analysis. It takes into account the existing guidance on cost-benefit analysis, business case and economic impact analysis in the Airport Economics Manual (Doc 9562) and the Manual on Air Navigation Services Economics (Doc 9161), and aligns terminologies with a view to achieving a common understanding of these concepts. Supplementary material is provided in the appendix and provides concrete examples and references in conducting such analyses.


The guidance in this manual is presented in three chapters. Chapter 1 provides definitions on cost-benefit analysis, business case, economic impact analysis and cost-effectiveness analysis, and explains the difference between each other. Chapter 2 provides guidance on making decisions on when to conduct a cost-benefit analysis or business case. Chapter 3 describes the scope of a cost-benefit analysis and the process in conducting the analysis by steps. References to existing guidance and its application to specific aviation investment projects are included in the appendices, which will be reviewed and updated periodically.





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