ADV: Numerous German airports face bankruptcy without access to fresh capital

German Airports Association (ADV) reported (23-Oct-2020) German airports are expected to lose EUR3.6 billion in revenue in 2020 and EUR2.6 billion in 2021 as a result of COVID-19. A quarter of the more than 180,000 jobs at the airport locations are also at risk of being lost due to the pandemic, the organisation stated. ADV reiterated calls for the German Government to provide EUR740 million in operating costs incurred as airports were required to remain functioning during the first lockdown period in 2020. "Without access to fresh capital, there will be an inevitable downsizing and numerous airports face bankruptcy", ADV CEO Ralph Beisel concluded. [more - original PR - German]