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2-Feb-2022 11:15 AM

European Commission approves EUR1.7bn in recapitalisation measures for Flughafen Berlin Brandenburg

European Commission approved (01-Feb-2022) the German Government's plans to grant up to EUR1.7 billion for the recapitalisation of Flughafen Berlin Brandenburg (FBB). The grant is subject to conditions including:

  • The capital injection will not exceed the minimum needed to ensure FBB's viability, and will not go beyond restoring its pre-pandemic capital position;
  • FBB will be subject to strict limitations regarding management remuneration, including a ban on bonus payments, until at least 75% of the capitalisation is redeemed;
  • FBB will not offer any discounts to airlines or expand capacity until the aid has been fully redeemed.

The Commission concluded that the recapitalisation measure is "necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State". EU Commission Executive Vice-President Margrethe Vestager said the measure will "reinforce FBB's equity position and help the company face the economic effects of the COVID-19 outbreak". FBB will use part of the aid to repay subsidised interest loans approved by the Commission in Aug-2020. [more - original PR]

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