XN000022-1993-06-04 — Page 2

FRIDAY, JUNE 1, 1993

1

FURTHER FUNDING FOR PROVISIONAL AIRPORT AUTHORITY

THE GOVERNMENT HAS DECIDED TO SEEK APPROVAL FROM THE FINANCE COMMITTEE FOR THE PROVISIONAL AIRPORT AUTHORITY TO RECEIVE FURTHER FUNDING TOTALLING $564 MILLION.

THIS WOULD ENABLE THE AUTHORITY TO COVER ITS HEAD OFFICE EXPENSES FOR A PERIOD OF NINE MONTHS FROM THE END OF JUNE, AND ΤΟ PROCEED WITH EIGHT CRITICAL AIRPORT DESIGN PACKAGES.

"OUR

DECISION TO SEEK APPROVAL FOR THIS FURTHER PUNDING IS IN LINE WITH OUR COMMITMENT UNDER THE MEMORANDUM OF UNDERSTANDING TO COMPLETE PROJECTS IN THE AIRPORT CORE PROGRAMME TO THE MAXIMUM EXTENT POSSIBLE BY JUNE 1997," A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY),

PROJECT.

"THE PAA IS WORKING TO MAINTAIN THE MOMENTUM OF THE AIRPORT

"THE FIGURE OF $564 MILLION IS THE MINIMUM NEEDED TO ENABLE THE AUTHORITY TO CONTINUE TO MANAGE THE SITE PREPARATION CONTRACT, TO KEEP IT'S PLANNING AND DESIGN WORK ON SCHEDULE, AND TO AVOID DELAYS THAT WOULD RAISE COSTS."

THE SPOKESMAN SAID THE $564 MILLION COMPRISKD A NEW CONTRIBUTION OF $374 MILLION TOWARDS THE PAA'S HEAD OFFICE EXPENSES FOR A PERIOD OF NINE MONTHS FROM JULY 1 AND $190 MILLION TOWARDS THE COST OF EIGHT DESIGN PACKAGES.

וזין'

LAST NOVEMBER THE FINANCE COMMITTEE APPROVED $6,699 MILLION COVER HEAD OFFICE EXPENSES UP TO JUNE 30. AND FULL CONTRACTUAL COMMITMENTS AND ASSOCIATED EXPENSES (INCLUDING SITE SUPERVISION COSTS) OF THE SITE PREPARATION CONTRACT, THE PASSENGER TERMINAL DESIGN, AND FIVE OTHER CRITICAL DESIGN PACKAGES.

"A FURTHER PERIOD OF NINE MONTHS HAS BEEN SELECTED FOR FUNDING THE HEAD OFFICE EXPENSES BECAUSE IT RUNS TO THE END OF THE PAA'S CURRENT FINANCIAL YEAR.

AND

APPROVAL OF THE PUNDS WOULD ALSO HELP SUSTAIN STAFF MORALE STRENGTHEN THE PAA'S NEGOTIATING POSITION IN COMMERCIAL TRANSACTIONS," THE SPOKESMAN SAID.

"THIS FUNDING IS ESSENTIAL FOR THE PAA TO BE ABLE TO CONTINUE, BEYOND THE END OP JUNE, ITS HEAD OFFICE MANAGEMENT OF THE SITE PREPARATION CONTRACT AND OF DESIGN WORK ON THE TERMINAL AND OTHER ITEMS.

IT IS ALSO ESSENTIAL TO ENABLE IT TO MAINTAIN ITS FINANCIAL AND CORPORATE MANAGEMENT ACTIVETY, AND ITS OPERATIONAL AND COMMERCIAL PLANNING.

"I

THE SPOKESMAN EXPLAINED THAT THE EIGHT DESIGN PACKAGES HAD BEEN HELD OVER WHEN THE FINANCE COMMITTEE APPROVED FIVE MORE URGENT DESIGN PACKAGES LAST NOVEMBER.

/THE EIGHT