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Sat October 20 2018

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Iceland gets funds to expand Keflavik Airport

2 Mar The European Investment Bank (EIB) has agreed to provide a ISK12.5bn (£90m) loan for renovation and expansion of Keflavik International Airport in Iceland.

Operator Isavia is renovating the existing infrastructure and making capacity investments in order to respond to substantial passenger growth.

Isavia managing director Björn Óli Hauksson said that the upcoming development at Keflavík International Airport is substantial. The project will provide additional terminal, airside and landside capacity and will improve existing facilities, which operate above capacity during peak periods. The financing will also be used for the extension of the south terminal, the upgrade of the baggage handling system, the rehabilitation of the runways and the construction of additional taxiways, among other various associated investments.

EIB vice-president Andrew McDowell said: “Keflavík is the gateway to Iceland and is projected to receive nearly 10.5 million travellers in 2018, continuing a growing trend. Therefore, additional capacity will soon be needed to better serve the many people who transit here each year.”

MPU

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