10.3.2006

Turku and Finavia to Develop Airport Area

The City of Turku and Finavia have signed a preliminary agreement regarding the development of land around Turku Airport and have also made a property transaction concerning land to the south of the airport.

Turku City and Fìnavia have contracted a land transfer and signed a preliminary agreement by which government owned tracts of land to the south of Turku Airport will become the property mainly of the City of Turku.

A plan for the area to be handed over has been prepared by Turku City in collaboration with Finavia which will come up for consideration by Turku City Council on March 20th be 20.3.2006. The area covered by the planning proposal, and following the land transfer, includes tracts of land owned by both the Finnish government and the City of Turku. The planning proposal would allow for the construction of up to 270 000 m² of office space in the area.

The preliminary agreement expresses the desire of Finavia and Turku City in partnership to develop airport land as a competitive logistics centre with up-to-date services, in accordance with the PILOT concept. It will thus be an important step for the Turku economic region and the business life of the local community.

Pilot Turku Oy, whose majority shareholder is the City of Turku, was founded in 2003 to market and develop the airport land. The company?s job is to market land in the Turku region to international and Finnish companies because of its excellent logistical location, and also to participate in promoting regional interests with regard to the development of the logistical position of the Turku area.

In this connection, Finavia signed an agreement with Pilot Turku Oy concerning long term cooperation over the active marketing of Turku Airport services and the local area.

Finavia is currently improving capacity and service standards at the airport so that it can support the development of the region in the best possible way. The airport and the company are also working intensively together to find new types of activity that will serve their common interests.

Finavia and the City of Turku have also decided to set up a joint working group to develop service concepts that will enable low cost air traffic to be introduced to Turku Airport. In this connection, Pilot Turku Oy has decided to hire an expert to help in the development of air passenger transport.