Commission approves German coronavirus aid scheme for airportsChristian Fernsby ▼ | August 13, 2020
The European Commission has approved a German aid scheme to support airports in the context of the coronavirus outbreak.
Commission German airport
- Compensate airports for revenue losses directly caused by the coronavirus outbreak during the period 4 March to 30 June 2020, in the form of direct grants. The scheme ensures that any compensation paid out in excess of the actual damage suffered will have to be returned to Germany including interest. The risk of the State aid exceeding the damage is therefore excluded;
- Provide liquidity support in the form of grants, guarantees on loans, subsidised interest rates and deferrals of certain taxes and charges to airports facing liquidity shortages as a result of the restrictions that Germany and other Member States had to impose to limit the spread of the coronavirus.
The aviation industry has been particularly hard hit by the coronavirus crisis, with airport industry association ADV estimating that German airports are currently losing about half a billion euros per month. The German aid scheme foresees airports that can show financial losses that occurred as a direct result of the pandemic between March 4 and June 30 receiving subsidies. ■