“In addition to the massive increase in projected construction costs to around two billion euros, the general conditions have also fundamentally changed as a result of the excessively long approval process. In 2005, 71 passengers were transported per flight movement; by 2024, the use of larger aircraft had increased this to 139 passengers, thus easing the pressure on runway capacity. A decisive factor in the decision was also that the largest airline customers at the airport are opposed to the project, and without refinancing through higher fares, the investment is not economically viable,” explained Julian Jäger and Günther Ofner, members of the Management Board of Flughafen Wien AG.
Another reason for the decision was the still-pending decision of the Administrative Court of Justice, after 17 months, in the appeal against a modification ruling by the Federal Administrative Court in the proceedings concerning the extension of the construction period.
Today's decision does not rule out the possibility that a runway project may be reconsidered in the distant future, subject to a new approval process and renewed demand.
As a result of this decision the payments made between 2018 and 2020 under the mediation agreement to the environmental fund and to neighboring communities, which were capitalised for the runway project, amounting to € 55.9 million, will need to be disposed in the 2025 accounts without affecting liquidity. For this reason, Flughafen Wien AG is also adjusting its guidance for net income before minority interests in 2025 to around € 210 million (previously around € 230 million). The new guidance also includes positive effects from a better traffic development in recent weeks than originally expected.