Global Airport News

Global Airport News

Vienna's airport operator said on Monday it will ask shareholders on Aug. 20 to approve a special audit of its delayed Skylink terminal, but would not let public finance overseers check their books.

Flughafen Wien in April raised the expected cost of its new terminal to 894 million euros ($1.27 billion), the latest in a series of increases from an initial budget of 400 million euros, and in July suspended all work on the project.

Austria's audit court, which supervises state spending, said earlier this month that it would probe cost overruns at the new terminal, based on the fact that regional governments practically controlled the company.

Flughafen Wien's main shareholders are the city of Vienna and the state of Lower Austria, which own 40 percent of the operator between them.

Flughafen Wien said that the combined stake was too small to allow checks by the public auditors but that it was ready to allow a private audit of the project if an extraordinary general meeting (EGM) on Aug. 20 approved it.

A foundation holding 10 percent of Flughafen Wien on behalf of employees had requested a private audit.

Austria's financial watchdog, FMA, said last week it was investigating whether Flughafen Wien failed to disclose in time the cost overruns at the terminal.

Flughafen Wein has said it believes all disclosure requirements were observed. ($1=.7063 Euro) (