End for Third Runway at Vienna-Schwechat Airport

"After a thorough analysis of all relevant decision factors, the board of Flughafen Wien AG decided today (Tuesday, note)," said Vienna-Schwechat Airport on Tuesday evening. The company can continue to grow with the planned two-runway system and its expansions.

Vienna-Schwechat Airport aims for up to 52 million passengers annually with two runways

The plan is to handle up to 52 million passengers annually, it was further stated. "The decision made means that the payments incurred from 2018 to 2020 from the mediation agreement to the environmental fund and neighboring communities, which were activated for the runway project, are not to be adjusted for liquidity with minus 55.9 million in the 2025 balance sheet," it was communicated regarding the financial impacts for the company.

Forecast for construction costs for third runway at Vienna-Schwechat Airport explodes

"In addition to the massively increased forecasted construction costs of around two billion, the conditions have fundamentally changed due to the excessively long procedure duration," explained airport board members Julian Jäger and Günther Ofner via a release. "In 2005, 71 passengers were transported per flight movement, by 2024, it was already 139 passengers due to the use of larger aircraft, which eases the pressure on runway capacity. Also decisive for the decision is that the largest airline customers at the location are opposed to the project, and without refinancing through higher tariffs, the economic basis of the investment is not feasible."

Long procedure duration for third runway at Vienna-Schwechat Airport

Another reason for the decision was the still pending decision of the Administrative Court 17 months later on the appeal against an amending decision of the Federal Administrative Court in the procedure for the extension of the construction period. The long duration has always been criticized by airport representatives.

Financial impacts of the end of the third runway at Vienna-Schwechat Airport

"The decision made means that the payments incurred from 2018 to 2020 from the mediation agreement to the environmental fund and neighboring communities, which were activated for the runway project, are not to be adjusted for liquidity with minus 55.9 million in the 2025 balance sheet," it was communicated regarding the financial impacts for the company. Due to the adjustment, a net result before minorities of 210 million is expected this year instead of the previously around 230 million euros. The new guidance also includes positive effects of better traffic development in recent weeks than originally assumed.

(APA/Red)

This article has been automatically translated, read the original article here.