The Berlin Brandenburg International airport BER needs a € 300 million cash injection by October 31; otherwise, it could go bankrupt.
The airport which plans to open on October 31, after years of delays risks bankruptcy if the amount of money would not be immediately transferred to the airport’s operator Flughafen Berlin-Brandenburg (FBB), SchengenVisaInfo.com reports.
Federal Finance State Secretary Bettina Hagedorn, from the Social Democrats (SPD), addressed a letter to the budget committee of the Bundestag, to ask for extra funding for the airport.
Of the needed € 300 million funding, € 99 million would be transferred immediately, while the further € 201 million to be paid as a loan.
However, according to a report published by Berlin’s Tagesspiegel newspaper, this amount of money would not be the key to solving the problem. In the “worst-case scenario”, BER could need a total of 700 million euros, if the number of passengers does not increase.
“Without the financing commitment of the shareholders, FBB’s solvency would not have been secured for 2020. FBB needs part of the committed funds to ensure its liquidity … by October 2020 at the latest,” Hagedorn emphasized in the letter.
The Brandenburg’s cabinet has urged for the draft budget for 2021 to be passed on Tuesday, which must also include the financial help for FBB.
Finance Minister Katrin Lange (SPD) had previously stressed: “As shareholders, we have a duty to protect the company from bankruptcy.”
FBB could lack nearly 1.5 billion euros by 2024.
Earlier this week, European airports and airlines, together with slot coordinators, agreed to follow several conditions through which the “use-it-or-lose-it” rule could be applied in the 2020-2021 winter season.
In July, Frankfurt’s airport announced that the number of passengers had decreased by 79 per cent from July 20 to 26, compared to the same period in 2019.
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