Positive one-off effect in the financial year 2015
Flughafen Zürich AG and Swiss Life AG have certified today the purchase agreement for the land of «The Circle» and applied to record in the land register. With the execution of this transaction the planned joint ownership structure between the two financing partners is established according to the financing contracts.
Together with the partial sale of the land and the establishment of the joint ownership structure an excess profit of approximately CHF 35 Mio. (pre-tax) will be recognized in Zurich airport’s income statement 2015. This one-off effect essentially includes the gain on sale for the land of the first realization phase of «The Circle». Together with the realization of the second, smaller phase at a later point in time, another purchase price payment will be due.
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