The European Union is supporting Copenhagen Airport (CPH) in its plans to reach a capacity of 40 million passengers a year with a EUR 168m (DKK 1.25bln) loan from the European Investment Bank (EIB). The loan will be guaranteed under the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, in which the EIB is the European Commission’s strategic partner.
The project concerns the expansion of Copenhagen Airport to cater for future growth in air traffic and enhance passenger service standards and operational efficiency. Specifically, it includes the construction of the first part of a new Pier E, adding stands for long-haul wide-body aircraft, expanding the airside areas of Terminals 2 and 3 and carrying out a range of other smaller airside and landside upgrades. This should lead to a better experience for the many passengers travelling and transiting through CPH every day.
“The EIB is happy to help finance the expansion of a “core network airport” within the TEN-T framework of the European Union." said EIB Vice-President Jan Vapaavuori. “Besides alleviating capacity constraints and improving passengers’ comfort, safety and security throughout the airport, the expansion is expected to also contribute to the creation of new jobs, which will be sustainable over the long term.”
Violeta Bulc, European Commissioner for Transport, said: "With global traffic expected to double by 2035 the EU needs to plan strategically for this growth, as advocated under the new Aviation Strategy for Europe. The expansion of Copenhagen airport is a step in the right direction, providing more capacity, efficiency and new jobs for an important sector of our economy."
“We are happy that the EU commission sees the strategic need to expand airport capacity in Europe and recognizes its contribution to the creation of jobs and growth. We welcome the initiative to support the development with financing and this expansion project will support the next phases in the airport’s plans to grow to 40 million passengers a year and will incorporate new parts of the 2014 ‘Expanding CPH’ development plan”, said Thomas Woldbye, CEO of Copenhagen Airports.
This is the second EIB corporate loan operation in Denmark falling under the Juncker Commission’s Investment Plan for Europe, meant to support investments and bring back jobs and growth to Europe. The EIB loan is guaranteed by the EU budget, which allows the EIB to offer CPH long-term financing with flexible conditions and at favourable rates.
Photographer: EIB ©To be defined
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