Shares in Paris airport operator Aeroports de Paris fell as much as 4.4% on Tuesday before paring the decline to 1.1% after the French government proposed sharply increasing the tax on long-distance transport infrastructure. Eiffage and Vinci also declined, with Eiffage down 3.4% at €102.35 and Vinci down 2.8% at €108, leaving both near 52-week lows while the CAC 40 traded around 8,100. The tax, known as TEITLD, could rise progressively from 4.6% to as much as 12.2% depending on operator profitability. The government estimates the change would generate about €800 million in additional annual revenue, lifting total proceeds to roughly €1.4 billion from around €600 million. The tax currently applies to companies with more than €120 million in infrastructure revenue and average profitability above 10%, and the increase is due to be included in the 2027 budget proposal. Motorway concessionaires would be barred from passing the additional cost through to toll prices, while airports have greater scope to reflect higher costs in customer pricing. The proceeds would fund the Ambition transports programme for maintaining and modernising existing transport infrastructure.