Passenger Terminal Today - Elizabeth Baker
The European Commission (EC) has granted approximately €1.7bn (US$1.9bn) for the recapitalization of Flughafen Berlin Brandenburg (FBB), the state-owned operator of Berlin Brandenburg Airport (BER) in Germany.
Due to the Covid-19 outbreak and the travel restrictions that Germany and other countries imposed to limit the spread of the virus, FBB suffered substantial losses while still facing significant operational costs. As a result, the equity and liquidity position of the company deteriorated. The measure aims to help with these issues while maintaining the necessary safeguards to limit competition distortions.
In this context, Germany asked the EC, under the Temporary Framework, to grant up to €1.7bn (US$1.9bn) for the recapitalization of FBB by enabling its public shareholders, the Länder Berlin and Brandenburg and the Federal Republic of Germany, to inject the capital into FBB’s capital reserve. FBB will use part of the aid to repay the subsidized interest loans granted under a previous scheme approved by the EC in August 2020.
