GUVLICAT MUSAL
INSIRI,
(b) the AA
would be expected to borrow funds on
a
basis non-recourse
without (i.e.
Government
guarantee);
(c) the new
return on
airport should provide a long term
investment similar to the target at
Kai Tak (i.e. about 15%);
(d) the
of level
aeronautical charges
at
the
target date for opening the new airport could
be assumed to be up to three times higher, in
real terms, than in July 1989, but no higher.
(e) revenues from
aeronautical charges
could be
assumed to have increased by three times, in
real terms
(TRM 3) on the opening
of the
airport, but no higher.
The
Government also provided guidance on the assumptions to
be made in relation to general inflation and increases in
building
project.
and
labour
costs
throughout
the life of the