In April 2008 Tynwald granted a major runway extension and resurfacing project at the airport. The runway will be extended by out into the Irish Sea by the construction of a rock-armoured promontory. It was part of a £44m plan which also included resurfacing of the runway during summer 2008 and the extension program that will commence in spring 2008 work was completed by early 2011. It has emerged that the actual runway take-off length was underestimated by 160 metres in the £1.5 million feasibility study. Whilst the study originally looked into the aviation marketing implication of runway length, airport management has now denied that the extension is for the use of heavier aircraft in the future, stating that the resurfacing and extension are to comply with the latest international safety standards. There has been a significant overspend on the project due to poor foreign exchange management of the Euro-denominated components of the costs. It is thought that the Manx Treasury Minister may have been referring to the expense of the runway and the additional £6,515,000 control tower project when he stated in his 2009 Budget speech that the Isle of Man could no longer afford "Rolls Royce" projects. Following the completion of the runway extension project the largest aircraft that can operate fully at Ronaldsway is the Boeing 757.