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Investment Group Offers €200 Mln for Castellon Airport

Source: ABC - Wed 9th Jan 2013
Investment Group Offers €200 Mln for Castellon Airport

Carlos Fabra, the President Aerocas - the concession holder for Castellon Airport - has announced the "imminent" sale of the Airport to Libyan owned Investment company, for the sum of €200 million.

Fabra gave announcement together with the Minister of Economy, Maximum Buch, to the Castellon Chamber of Commerce, which he is also the President of.

The offer, which was received on December 31st, is enough to ensure that the Airport can become operational by the 30th of June, and will result in the creation of around 1'400 jobs, according to Fabra.

The airport, which "officially opened" in March 2011, had swallowed up €138 Million by the end of December 2011, according the Government Audit Office.

The Generalitat Valenciana, who own 98% of the shares in Aerocas, with the Province of Castellon owning the remaining 2%, have oddly enough offered their "full support" with the transition.

Read further Castellon Airport news by clicking the link >> HERE <<.

Comment on this Story

 
Si : According to a (very brief) breakdown of the €138 Mln investment for 2011, some €95 Mln of this was for "Infrastucture & Construction". Given that there has been no similar audit published for 2012, and that the construction work has not taken place twice (excluding the Balls-up with the runway), it is probably fair to assume that the running costs for 2012 would have been around €10 - €12 Mln. If you add in the costs of running the airport until a contract of sale can take place, together with any remedial works required in the contract, I can't see the Generalitat making a profit. You can read the 2011 breakdown by clicking the link >> HERE <<
Tumbit - Admin - Thu, 10th Jan 2013
138 Million up to the end of December ? - What about the money spent on keeping the airport open during 2012 ?
Si Parker - Wed, 9th Jan 2013