Flughafen Wien AG

Legal Proceedings Report • Dec 11, 2009

News Details

Corporate | 11 December 2009 14:15

Flughafen Wien AG: EUR 830 million budget approved for Skylink – Restart of construction beginning in mid-February 2010

Flughafen Wien AG / Miscellaneous

11.12.2009

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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The Supervisory Board today approved a budget of EUR 830 million for the
terminal expansion VIE-Skylink, based on a request by the Management Board.
This amount includes provisions for risk as well as reserves and the
possible commissioning of a general contractor. The goals are to complete
the project at a lower cost and adhere to the time schedule.

The last investment budget for the Skylink totalled EUR 657 million and
reflected adaptations to the project that resulted from increased
requirements by municipal authorities, the optimisation of the retail and
gastronomy concept, the necessary redesign of the project organisation and
price increases. After it became apparent in spring 2009 that the costs
would exceed this framework, a number of consequences were drawn: The
project was reorganised with a leaner structure under the direction of
Norbert Steiner. Construction was interrupted at the end of June 2009 and
all contracts were cancelled to permit the preparation of coordinated
planning documents, conclude new contracts and implement further measures
to minimise costs.

Contract negotiations proceeding successfully
In the meantime, the contract negotiations between Flughafen Wien AG and
the involved firms as well as the tenders for the continuation of
construction on the terminal expansion VIE-Skylink have brought successful
results. The major contracts have been concluded, and a tender was started
to select a contractor to direct the interior construction. Tenders for
project management and local construction oversight were also carried out
and will be completed shortly.

Court proceedings for the preservation of evidence are currently in
progress at the request of Flughafen Wien AG, and are intended to measure
the status of the work performed to date and identify any defects. This
will form the basis for possible damage claims against third parties in the
future.

Tender for general contractor should be completed by the third quarter of
2010
The tender to select a general contractor will be started in the near
future and should be completed by the third quarter of 2010. The decision
to award this contract will be based on the economic benefits for Flughafen
Wien AG. The time schedule for the Skylink project will not be affected by
this decision, and construction should resume - as planned - beginning in
mid-February 2010. The general contractor would be in charge of
construction up to the point of transfer and would also be responsible for
the management of all additional construction up to the completion of the
project and start of operations. Operations in the terminal expansion
VIE-Skylink are planned to start during the first half of 2012.

Robert Dusek
Investor Relations
Flughafen Wien AG
Tel: 0043-1-7007/23126

11.12.2009 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Flughafen Wien AG
Postfach 1
1300 Wien-Flughafen
Österreich
Phone: +43-1-7007/23126
Fax: +43-1-7007/23058
E-mail: r.dusek@viennaairport.com
Internet: www.viennaairport.com
ISIN: AT0000911805
WKN: 884216
Indices: ATX
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Foreign Exchange(s) London, Wien

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