Wednesday, August 19, 2020

German Airports in Corona-Failure Status?

N-TV did a update today and laid out the issues for several German regional airports (Hahn, Kassel-Calden, Niederrhein, Paderborn, Rostock, Erfurt-Weimar and Saarbrücken among the dozen mentioned).

These are all airports that were marginally surviving before Covid-19 came along, and now?  They are probably not going to survive this new era.

There was a EU directive handed out a couple of years ago....'gift-money' from the states was going to come to an end (2024 was the last point that you could get extra money from the federal or state governments to carry the regional airport budgets.  So Covid-19 just speeded up the process.

Bankruptcy?  I would imagine by spring of 2021....the paperwork will start to be assembled and by the end of 2021....at least two or three of these airports will shut down and be attempted as real estate sales.  Some of these (Kassel-Calden for example)....probably has potential for commercial re-use, and can be bought on the cheap end. 

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