We are within eight weeks of the opening and fully operational status of BER (the new Berlin Airport). Being delayed for nine years because of hundreds of issues....it's a page one type story now.
Well...this morning via N-TV, there is a discussion going on...about FBB (the company that is running the airport).
FBB had a busienss plan that promised x-amount of profit, but this plan was developed before Covid-19 came along. Now? FBB is in serious financial jeopardy on day one, and probably won't be profitable for any part of 2020, and it might be questionable even how 2021 goes.
So the state and federal government in the region is arranging a 'loan-grant'. Amount? 300 million Euro. Being paid back? They are careful how they word this, and I would speculate that the majority of the money is simply a pure grant.
The idea that this is strictly for the remainder of 2020 (basically 3 months of operation)? Yeah, that's the suggestion that you get.
2021 looking better? If you look at the travel industry....the next big step or improvement is probably not until May of 2021....as Germans start up their next vacation season. So FBB probably will probably come back in the spring and seek more cash.
Maybe by the end of 2021's summer period....they might cross over and be marginally profitable at that point.
Another part of the saga? You could write a 700-page book over the entire BER story.
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