MILAN Dec 12 The financial holding indirectly
running Rome's two airports has postponed approval of its 2013
budget and of a multibillion-euro investment plan because of
uncertainty over tariffs that need to be approved by the
Gemina, a holding company that controls Rome
airport operator ADR, said in a statement it had put off until
January next year approval of its own budget and ADR's 2013-2022
The plan foresees 12 billion euros ($15.7 billion) of
investments to revamp Rome's main Fiumicino airport by 2044, of
which 2.5 billion euros in the next 10 years.
The development plan has been held back by a long-running
dispute with the government over tariffs for airport services.
ADR and the Civil Aviation authority came to an agreement in
October, but it needs to be ratified by a government decree
before the end of the year to become effective, something now
looking increasingly in doubt after Prime Minister Mario Monti
said he would resign early.
"Failure to approve it ... would lead to an untenable
situation of regulatory, operational and financial uncertainty,"
Gemina said in a statement.
The planned expansion would bring Fiumicino in line with
other international airports such as Madrid, London and
Singapore, and aid Italy's competitiveness, according to ADR.
The plan calls for two new runways and a near doubling of
the airport's area to 2,700 hectares, with a view to handling 55
million passengers by 2020 and 90 million to 100 million in
($1 = 0.7669 euros)
(Reporting By Silvia Aloisi; Editing by Maureen Bavdek)