German government will provide assistance to airports

Created on 04.03.2021 15:05

The German Federal Government has agreed to provide assistance to twelve state airports in total of 200 million euros. Support has also been promised to three airports, which are partly state-owned, the news agency ATO writes.

Governments of the federal provinces also have to be involved in the anti-crisis package with similar amounts on funding modalities. Beneficiary airports are not eligible to pay dividends to their shareholders and management bonuses based on the outcomes of the previous year.

German airports had lost about 67% of traffic in 2020 and 3.6 billion euros in revenue. In 2021, airport revenues are projected to be lower at € 2.6 billion (from pre-crisis level). Airports in Paderborn (PAD) and Friedrichshafen (FDH) have initiated financial insolvency proceedings.

2723 views