FRANKFURT - German airline Lufthansa and Munich Airport said on Wednesday they will invest heavily to raise capacity at the carrier's hub in southern Germany by more than 40% from 2015.
Lufthansa and FMG, the airport's governing body, are to invest €650 million
($850 million) to build a satellite terminal that would expand annual capacity by 11 million passengers, a statement said.
Terminal 2, to which the structure would be attached, is expected to reach a maximum capacity of 25 million passengers next year, meaning the extension would raise its potential by 44%.
The airport is to cover 60% of the project's cost, with Lufthansa paying the rest.
Munich is working to close the gap with Frankfurt, Germany's leading airport, but the planned development still requires final approval from the German state of Bavaria and the Munich city council.
Last year, Munich recorded 37.2 million passengers, behind Frankfurt at 50.9 million but well ahead of number three Duesseldorf on 17.8 million.
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Source: AFP
Publisher: I-Net Bridge
Source: I-Net Bridge
