Penultimate hurdle in Upper Austria
State Government Approves Airport Purchase
The deal is in the final stages: As reported, the state of Upper Austria intends to acquire the City of Linz’s 50-percent stake in the airport for a preliminary purchase price of 1.3 million euros. The nine-member state government officially approved this plan at its meeting on Monday.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen With one dissenting vote: Green Party State Councilor Stefan Kaineder voted against the purchase. Last week, the Linz City Council had already given its approval to the deal. This leaves only one (formal) hurdle remaining: On Thursday, the State Parliament must also approve the deal.
Private Investors to Come On Board
As a result, the state will initially become the sole owner of the financially struggling airport. Subsequently, however, up to 49 percent is to be sold to private investors.
The state government’s arguments for this move are well known: “With this decision, we are taking responsibility for the future of Linz Airport. After all, having our own airport with efficient international connections is an important location factor for our state, which relies on industry, exports, and tourism,” says Governor Thomas Stelzer. And State Councilor for Economic Affairs Markus Achleitner (both ÖVP) emphasizes that the planned private investors are expected to “contribute not only capital but also expertise, international networks, and additional business opportunities.”
Purchase price may still change
The purchase price in this matter is largely symbolic and could even drop to as low as a single euro. This is because parts of the soil on the airport grounds will likely need to be remediated, as they were damaged in the past—in part due to the use of firefighting foam containing so-called PFAS “forever chemicals.” Depending on how much this remediation costs and whether it receives funding, the purchase price could still drop significantly. In return, however, the city of Linz will receive additional payments if the state profitably resells its shares in the airport over the next five years.
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