Ljubljana Airport misses out on multi million euro investment
Ljubljana Jože Pučnik Airport has missed the opportunity to get a new terminal after the airport’s minority shareholders voted against the construction of the 57 million euro building project. Shareholders struck down the proposal amid concern over the ongoing financial crisis and expected privatisation of the airport, despite the project’s price tag being reduced from the original 73 million euros. A motion to reject the construction of the new terminal building was passed with a majority. A total of 53% of those with voting rights were against the new terminal, while a 75% vote in favour of the investment was needed in order for it to get the green light.
The Slovenian government did not hide its disappointment at the decision, despite refusing to give any indication whether it was for or against the project in the run up to the vote. The Slovenian Minister for Infrastructure and Spatial Planning, Samo Omerzel, hit out against the decision made by the Slovenian Securities Market Agency to deny the majority shareholder, the government, the right to vote. “I find it unacceptable that the majority shareholder had no voting rights. We did not have any impact on this decision. Personally, I was in favour of this investment. For me it is just frustrating that the majority shareholder has no voting rights”, Mr. Omerzel explained.
Ljubljana Airport has already spent 2.4 million euros on the non existing terminal, of which 1.6 million was spent on project documentation. The new terminal was meant to cover an area of 31.200 square metres and be opened in two years time. Despite putting a stop to the construction of the new terminal, shareholders approved that start of due diligence for the privatisation of the airport. The process of due diligence must be completed by the end of November this year.