November 12, 2019 / 6:31 AM / a month ago

BRIEF-Flughafen Zuerich: FOCA Sees Violation Of Cost Covering Principle

Nov 12 (Reuters) - FLUGHAFEN ZUERICH AG:

* FEDERAL OFFICE OF CIVIL AVIATION SEES VIOLATION OF COST COVERING PRINCIPLE IN CURRENT REGULATORY PERIOD

* HAS ISSUED A DECREE TO REDUCE AIRPORT CHARGES DURING CURRENT PERIOD DUE TO ALLEGED VIOLATION OF COST COVERING PRINCIPLE

* AS A RESULT OF DECREE, FLUGHAFEN ZÜRICH AG’S REVENUE FROM FLIGHT OPERATIONS CHARGES WOULD BE REDUCED BY AROUND CHF 60 MILLION IN FY 2020 IN COMPARISON TO 2019

* CONSIDERS THE COST COVERING PRINCIPLE AS NOT BEING VIOLATED IN THE CURRENT REGULATORY PERIOD AND WILL APPEAL THE DECREE Source text: bit.ly/2O24kxN Further company coverage: (Gdansk Newsroom)

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