"Hungarian authorities have issued the final permit for the construction of a new airport 60 kilometres of Budapest, near Székesfehérvár. Alba Airport could be a viable alternative to the capital city's Ferihegy International Aiport. The builders expect total costs to be around HUF 20-25 billion (EUR 83-104 m).The owners of the project, real estate company Biggeorge's NV Zrt. and the Municipality of Székesfehérvár, have been hampered by a series of appeals for three years to obtain the final document, while they had been granted 98 of the nearly 100 permits required.
Odd as it may sound, the biggest obstacle was a bunch of gophers.
The construction is but the upgrade of a former military airport that has operated for about 70 years. The authorities issued an environmental protection decree to transport the inhabitants of the field, the gophers, somewhere else. As the action was limited to an extremely brief, two-week period, environmental protectionists, fearing for the lives of the gophers, submitted an appeal and the owners had to wait a full year until the little creatures could be transported to their new home.
Alba Airport is to be up and running by the first half of 2010, according to plans. It would primarily serve low-fare airlines and charter flights.
Thanks to its favourable location and easy access both from Budapest and the western part of the country, Alba Airport stands the biggest chance of becoming the second-largest international airport in Hungary of all ongoing airport projects.
The owners expect to pose serious competition for Budapest Airport (BA) in these segments, saying that Hochtief, which paid HUF 440 bn for BA, will be able to give limited answers to the intensifying competition, while Alba Airport will need to make a return “only" on HUF 20-25 bn, the planned budget of the construction. The owners of Alba Aiport will also seek to obtain European Union funding for the project.
Biggeorge's NV Zrt. says it has every reason to believe that its passenger number targets set for a profitable operation are realistic, primarily in respect of the budget and charter airline segments.
In order to fully exploit the investment and ensure profitability, Biggeorge's will also build a business and industrial park adjacent to the airport, on 110 hectares (272 acres).
Ferihegy International Airport will be less than 100 km and about 1 hour from Alba Airport, the former Börgönd Airfield"
Source: Portfolio Online Financial Journal
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23.09.2008