Flughafen Wien AG

Regulatory Filings • Apr 22, 2009

News Details

Ad-hoc | 22 April 2009 08:30

Flughafen Wien AG: estimated projected costs for Skylink total EUR 830 million. New passenger forecast for 2009 shows decline of 9%

Flughafen Wien AG / Forecast/Miscellaneous

Release of an Ad hoc announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---

Flughafen Wien AG has revised its traffic forecasts for 2009 as previously
announced, above all to reflect the continuing economic downturn. Vienna
International Airport is now expecting declines of 9% in passengers as well
as 8% in maximum take-off weight (MTOW) and 8% in flight movements for
2009. The number of passengers handled at Vienna International Airport is
forecasted to reach nearly 18 million by the end of 2009.

At the same time, Flughafen Wien AG has adjusted its capital expenditure
programme for the period from 2009 to 2013. The Flughafen Wien Group is now
forecasting a total investment volume of EUR 937 million for this period
(excluding the third runway and related land sites). This figure includes
investments for projects that cannot be postponed, such as expansion
projects in the terminal areas, the design of the core zone, security and
replacement investments of EUR 695 million. The remainder represents
projects that can be postponed, e.g. projects for the aprons and parking
areas.

Furthermore, the evaluation report on the terminal extension 'Skylink' by
the civil engineering firm Gobiet & Partner has been completed. The
estimated projected costs for the new Skylink, which were previously
expected to total EUR 657 million, are now presumed to equal EUR 830
million. This figure does contain opportunities for improvement, but
additional non-assessable risks of up to EUR 64 million cannot be excluded
at the present time.

The previously expected costs of EUR 657 million reflected an
underestimation of the complexity of the project and a resulting overly
optimistic evaluation. The necessary steps have already been taken: The
responsible project managers were replaced on the recommendation of Ernest
Gabmann, the new Management Board member who is responsible for the
project. As previously announced, Norbert Steiner has taken over the
direction of the Skylink project. Mr. Steiner is a well-known international
expert, who last served with ÖBB Immobilien-management GmbH. He has
successfully realised a number of large construction projects such as the
BahnhofCity west railway station and the main railway station in Vienna as
well as the railway stations in Linz, Graz and Innsbruck, and was also in
charge of numerous major international projects.

Since the volume of traffic in 2009 will fall below the 2007 level, Vienna
International Airport will be able to handle the passenger volume over the
coming years with the existing terminal capacity and no adverse effects.
The completion of construction is scheduled for July 2011, whereby the
start of operations in the terminal extension 'Skylink' will be determined
in agreement with the development of traffic and the results of the test
phase. The start of operations will also mark the start of depreciation,
which will cover a period of 33 years.

Robert Dusek
Tel:+43-1-7007/23126
Investor Relations
Flughafen Wien AG

22.04.2009 Financial News transmitted by DGAP

Language: English
Issuer: 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

End of News DGAP News-Service

---