According to this article:
Corvera International Airport will be completed this year | News | Simply Networking the new airport at Corvera could be finished and operational by March 2012, but being Spain I would be inclined to add at least 6 months to this date.
The big question of course, is which carriers will use it. As most UK locos have published their simmer 2012 routes, I think it unlikely that there will be any flights to/from the UK until October/November 2012 at the earliest.