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German flagship airline Lufthansa and the governing bodies of the Munich Airport said they plan to invest US$853.47 million in the expansion of the southern German airport with the aim to increase the hub's capacity.
Munich Airport, or FMG, and Lufthansa have passed a resolution to erect a satellite building to increase the capacity of Terminal 2 at Munich Airport as well as adding to the number of gate positions.
The project is a response by FMG and Lufthansa, which jointly operate Terminal 2, to the dynamic passenger growth at Munich Airport.
Terminal 2, which opened in 2003 and was designed to handle the hub traffic of Lufthansa and its partners, is expected to reach its specified annual traffic capacity of 25 million passengers next year.
The new building has already received final planning approval. It will provide handling capacity for an additional 11 million passengers per year.
The investment costs will be shared by FMG and Lufthansa on a 60 to 40 basis, as in the original Terminal 2 investment.
Cargonews Asia
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