Zagreb Airport to refinance debt, names new CEO
The Croatian government has given its approval to Zagreb Airport's operator to refinance some 198 million euros of debt from 2013 under more favourable terms. "Conditions have been met for the refinancing of existing debt which will enable the concessionaire to further strengthen the stability of the project, pave way for investments into the expansion of the passenger terminal and lower future business risks", the Croatian Minister for Sea, Transport and Infrastructure, Oleg Butković, said. Under the agreement between operator Zagreb Airport International Company and the Croatian government, the concession holder cannot amend or in any way alter the financing agreement before prior approval from the state.
The concession agreement stipulates that the government is entitled to 33% of any profit resulting from debt refinancing. As a result, the state anticipates receiving some seven million euros, four of which will be paid directly to the budget and the remaining three will be used to upgrade the VIP lounge and general aviation facilities used by the Croatian government and personnel at Zagreb Airport. The airport's management recently said it plans to start work on a new building that will house car rental agencies, that will be located near the terminal. Furthermore, it plans to build a new apron capable of handling wide-body aircraft. "This means we will then have to invest in new jet-bridges for larger aircraft. Following this, we intend to commence work on the overhaul of the old passenger terminal", the airport's management said in October. The operator is obligated to start expanding the main terminal building no later than the end of March in the year it anticipates handling its five-millionth passenger.
Meanwhile, the Supervisory Board of Zagreb Airport International Company has named the airport's new General Manager, who will replace Jacques Ferron after three years at the helm. Huseyin Bahadır Bedir will now lead the airport. He previously served as Zagreb's Chief Operating Officer and Board Member, as well as the Chief Executive Officer of Ground Handling. Mr Bedir was also previously the General Manager of Ground Handling at TAV Airports in Tunisia. TAV Airports holds a 15% share in Zagreb Airport's operator, along with Aeroports de Paris Management (20.77%), Bouygues Batiment International (20.77%), Fond Marguerite (20.77%), IFC (17.58%) and Viadukt (5.11%).
0 Response to "Zagreb Airport to refinance debt, names new CEO"
Post a Comment