The operator the new capital airport BER want to add another 1.1 billion euros in loans from banks. Particularly annoying: If the airport company, the money can not repay, is again the taxpayer’s turn.
The federal government and the states of Berlin and Brandenburg as owners want to guarantee one hundred percent for the loans, the airport said on Whit Monday. Meanwhile, time is running out to bring the financing in the bag, because the money is running out.
“We need these resources, because we want to continue building,” said a spokesman. For the next few months, there is still sufficient liquidity.
total costs rise to € 6.9 billion
Federal and state governments had a year ago decided the financial framework for the troubled project by a total of 2 extend 6 billion euros to up to 6.9 billion euros. Of this amount, 5.34 billion euros in the construction of the third largest airport in Germany. The rest of the sum is provided for expansion of the project, interest payments and a buffer
From the additional sum of Berlin, Brandenburg and the federal government shoot 1.1 billion euros as a shareholder loan to:. Berlin and Brandenburg each 37 per cent, Bund 26 percent – according to the shares held by the three partners at the airport. For the loan is considered a twenty-year period, the airport has reported to interest “at market conditions”.
Flughafengesellschaft sinks already in debt
This is also true for the other 1, EUR 1 billion, which will come from banks. You must repay the airport at the latest after ten years. Even now is the airport with 2.4 billion euros at banks in chalk. Even for these loans vouch federal and state governments.
To nachzuschießen more money, the shareholders need the EU Commission approval. A decision by the airport expects the summer. “If no solution would come, then we have to cut back on construction and expansion programs, which the date 2017 is certainly not conducive to be,” it said at the airport with a view to the desired start late next year.
EU Commission in Brussels must approve
Berlin’s mayor Michael Müller (SPD) as chairman of the board had said in the winter, an agreement for 2.2 billion euros to draw away. Whether Brussels also releases the 400 million-euro financial buffer accordingly
Airport CEO Karsten Mühlenfeld is not safe. Expected that the airport be financed from 2020 itself and be able to repay debt from the mid-20s. Despite the problems with the new airport, which was supposed to become operational already 2011 Moody’s sees the company as a relatively safe investment. The rating agency rated it with A1, the fifth-best of 21 stages.
The airport benefits from the fact that the state just stands essentially for the debt and that the number of passengers in Tegel and Schoenefeld grow
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