14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
|Date of loan:||19 Dec 2017|
|Customer:||Copenhagen Airports A/S|
|Amount in DKK:||DKK 900 million|
|Amount in EUR:||EUR 120.91 million|
|NACE sector / loan type:||Air transport|
|Business area:||Infrastructure, transportation and telecom|
The loan has been provided to finance part of the large-scale investment programme at Copenhagen Airport.
The capacity investments aim to cater to future growth in air traffic and to enhance passenger service standards and operational efficiency. The programme consists of several sub projects; the loan from NIB will finance four of them:
The CSC Capacity Expansion II project comprises the expansion of the central safety control (CSC) system at the airport, which currently has 20 tracks. Upon completion in 2018, the CSC will have an additional five tracks. Further, commercial and employee facilities will be expanded.
The second project under the loan facility is the expansion of Terminal 2. Approximately 4,000 m2 will be added to the airside at the terminal. The project is scheduled for completion in 2018.
Thirdly, the first construction phase of the new Pier E project will add seven gates for both Schengen and non-Schengen traffic. Construction will be completed in 2019.
Lastly, Terminal 3 will be expanded, which includes the construction of a new metro bridge to connect to Terminal 2, the replacement of the granite floor, and the optimisation of arrivals and customs flow. The project is expected to be completed by summer 2018.
Copenhagen Airport is the largest airport in the Nordic–Baltic region and currently the 12th largest in Europe, measured by passenger traffic. Copenhagen Airports A/S is a listed company, with the Danish state holding 39.2% of the stock. The largest shareholder is Copenhagen Airports Denmark ApS, with 57.7%.
The programme aims to improve transport infrastructure and increase traffic volumes. The investments will allow Copenhagen Airport to resolve current capacity issues and reach a passenger turnover of 40 million travellers. CSC processes will be streamlined by adding new, effective lanes, and passenger flow will be improved by providing additional space inside the terminals and by adding new gates and concession areas.
It is estimated that while the number of passengers will increase, the number of landings and take-offs will remain at the same level, due to the higher cabin capacity of larger airplanes. The project is rated as neutral.
The projects under the capacity investment programme are covered by an existing environmental permit. For all expansion projects, a new programme for detecting and handling contaminated soil at the site will be implemented.