Firm Operating New Berlin Airport Expects 350M Euro Loss

One year after it started operating, Berlin's new BER airport is deep in the red. A consolidated loss of 350 million euros ($405 million) is expected for this year, the Berlin-Brandenburg airport company reported to the Federal Ministry of Transport.

Photo Insert: The Berlin BER Airport

However, the loss will be around 50 million euros less than planned, the report said. From July to October, a profit was generated in the current business.

All airports are experiencing economic difficulties due to the collapse in passenger numbers in the coronavirus pandemic, Deutsche Presse-Agentur (dpa) reported.

BER is also burdened by high debts from the long construction and renovation period of the airport; it went online last autumn after a nine-year delay.

The airport company is pressing for partial debt relief from the states of Berlin and Brandenburg and the federal government, which own the airport. About 2.4 billion euros are needed by 2026.

This will enable the firm to raise fresh money on the capital market again in 2026, otherwise, this would not be possible until the 2030s, the report said.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic