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Vienna Airport: Third runway would have not paid for itself, but growth ambitions remain intact

The co-CEO of the Austrian ORF radio station said on Wednesday that a project to build a new runway at Vienna Airport, which was cancelled on Tuesday following decades of planning, would not have been profitable and that existing capacity allowed for growth.

Will we get a return on our 2 billion euro investment ($2.3 billion)? In a radio interview, Julian Jaeger said that the answer was "no, it's not feasible".

The company announced late Tuesday that the expansion project was abandoned due to cost inflation, and assets related to planning worth 55.9 millions euros will be written off.

At 1023 GMT, the shares rose 4.5% to their highest level in five months.

Jaeger stated that key airlines such as Lufthansa Austrian and Ryanair had pulled their support. The trend towards larger, more full aircraft also translated to a better use of both runways.

(source: Reuters)