Numerous German airports face bankruptcy without access to fresh capital
The never-ending corona crisis is worsening the situation at German airports.
Massively broken flight connections have brought air traffic almost to zero in recent months. With a sustained drop in passenger numbers of over 80%, a trend reversal is not in sight. Even the autumn holidays did not change this negative development. On the contrary - it turned out worse than feared: the number of passengers at German airports was only 17% compared to the previous year. The negative economic consequences are becoming increasingly noticeable. For 2020 as a whole, a drop in income of EUR 3.6 billion is expected and EUR 2.6 billion for 2021. A quarter of the more than 180,000 jobs at the airport locations are threatened with death.
The German airports generate a total gross added value of EUR 27 billion annually. As a pulsating location and economic factor, they are of central importance for the national economy and an indispensable source of growth and guarantee for equal living conditions in the regions. “As a result of the pandemic, many airports are threatened with collapse without public support and thus risks for the entire aviation system”, were the alarming words of Ralph Beisel, General Manager of the Airport Association ADV.
As a result of the pandemic crisis, airports threaten to break down as a job and value creation engine. The existence of a quarter of the more than 180,000 employees at German commercial airports is at stake. This affects both employees at the airport as well as the retail outlets located there and the aviation industry. Many regions are threatened with a loss of economic power. The decline at the airports puts an annual gross value added of EUR 27 billion at risk.
