After an investment cycle dominated by a programme dedicated to expanding capacity at the Oporto Airport and celebrated with the opening to the public of the new terminal at the end of 2005 – one which transformed the Northwest Iberian Peninsula’s major airport – ANA has begun a new investment cycle, this time focusing on a development programme for the Lisbon airport aimed at expanding its capacity to the maximum. Striving to deal with demand yet maintain quality of service, ANA has initiated a development programme for infrastructures that has earmarked approximately 550 million euros in investment funds for 2006-2010. Other development projects are set to join this programme for large-scale work in Lisbon, notably in Faro and Ponta Delgada, which will also expand the capacity of the passenger terminals and aircraft processing. In addition, the Oporto Airport has planned the construction of an air freight logistics centre that will provide services to air freight operators. Airport development is linked to growth in non-aviation activities, an area where we have planned important projects, especially ones related to real estate. In these tight financial times, ANA has in place a rigorous investment plan that seeks to satisfy increasing demand while guaranteeing high standards of safety and quality of service for its customers.