18.01.2007: Flughafen Wien AG plans investment in Flughafen Friedrichshafen GmbH
Flughafen Wien AG plans to acquire a 25.15% stake in Flughafen Friedrichshafen GmbH (FFG) as part of a capital increase by FFG. The two companies recently signed a letter of intent and will request the approval of their responsible corporate bodies (Supervisory Board / shareholders meeting) in the coming weeks. The conclusion of the transaction is scheduled for the end of the first quarter of 2007, subject to the approval of the responsible cartel authorities.
Friedrichshafen Airport is located at the crossroads between Germany, Austria and Switzerland, in one of the richest and most dynamic regions of Germany. The EUREGIO Bodensee has a population of 3.7 million, which has grown by 6% over the last ten years and is forecasted to increase at a rate of 3.5% in the future.
Friedrichshafen Airport has recorded impressive growth in recent years. From 2004 to 2005 the number of passengers rose to 596,089, or by 11.5%. In 2006 the number of passengers reached 657,749, which represents a plus of 10.3%. These results are excellent in comparison with the European average, which equalled 5.3% for the first 11 months of 2006. The major airlines using Friedrichshafen include Intersky, which is based in Friedrichshafen, as well as Hamburg International, Lufthansa, Ryanair and Icelandexpress.
The planned acquisition of a 25.15% stake in Friedrichshafen Airport is a strategic investment with a high potential for development, explained Herbert Kaufmann, member and speaker of the Management Board of Flughafen Wien AG. Two-digit growth rates, a dynamic regional economy and an attractive tourism region form an excellent basis for this planned investment.
Vienna International Airport will not only become a shareholder, but a key strategic partner who will help to accelerate the dynamic growth of Friedrichshafen Airport, explained Dieter Hornung, Chairman of the Supervisory Board of FFG and First Mayor of the City of Friedrichshafen. In order to maintain our steady pace of growth, we are planning major investments to expand our infrastructure over the coming years, indicated Hans Weiss, Managing Director of Flughafen Friedrichshafen GmbH. The capital contribution by Flughafen Wien AG as our new shareholder will allow us to realise these projects sooner than expected. We also see important opportunities for synergies in common marketing and sales, added Weiss. This transaction will move Friedrichshafen Airport not only closer to Austria, but also to the growth market of Eastern Europe.
Inquiries may be directed to:
Michael Kochwalter (+43-1-) 7007-22300
Brigitta Pongratz (+43-1-) 7007-23000