Funding Confirmed for New Airport Terminal in Bulgaria's Varna

Business | March 16, 2009, Monday // 09:15
Bulgaria Funding Confirmed for New Bulgaria Airport Terminal: Funding Confirmed for New Airport Terminal in Bulgaria's Varna Varna Airport is expected to receive EUR 20 M before 2011.Photo by ibox.bg

A total of EUR 20 M euro will be invested in Varna airport on Bulgaria's Black Sea coast.

Andreas Helfer, general executive director of concessionaire Fraport Twin Star Airport Management, which also manages Bourgas airport under a 35-year concession arrangement, confirmed the investment Monday.

Half of the sum will be spent on the construction of a new passenger terminal, which should get underway within months and will not be affected by the global financial meltdown. The new terminal has a provisional completion date of 2011.

In spite of the crisis the airport operator will not freeze investments or reduce the workforce, Helfer pledged, cited by Dnevnik daily newspaper.

Traffic at the Varna airport surged 30 % in the winter, when only regular flights are run, he added.

Bookings for the 2009 seasons have so far been close to last year's numbers without any major drop, but one can never be sure what comes next, said the airport's chief Dimitar Kostadinov.

 

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Tags: varna airport, new terminal, Fraport Twin Star Airport Management, investment

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