Germany planning $1.1b bailout of embattled airports

Germany is planning a E900m bailout of the country’s airports, adding to a multibillion-euro outlay already aimed at helping the aviation sector survive the coronavirus. The government will offer Berlin-Brandenburg, Cologne-Bonn and Munich a package of loans, grants and stake purchases worth more than E400m, according to a transport ministry document, which didn’t specify the breakdown. A further 12 airports, including Lufthansa’s Frankfurt hub, will get E200m, provided the sum is matched by regional finance ministries. DFS Deutsche Flugsicherung GmbH, the air-traffic control authority, would receive a E300m capital injection in exchange for a stake. The packages must be agreed with local governments and other airport owners, although is unlikely to be rejected. The country’s hubs are set to lose a combined E3b across 2020 and 2021, according to the ADV airport association, whose head Ralph Beisel says terminals are “on the verge of collapse.”<br/>