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Shareholders support FBB and recognise business plan / Application for temporary closure of Tegel is postponed until after Easter

31.03.20 11:15

Following yesterday´s Supervisory Board meeting and the meeting on 19 March 2020, yesterday´s FBB shareholders’ meeting dealt with the results of the meeting and confirmed its main decisions.

The shareholders recognised the business plan approved by the Supervisory Board and, subject to the approval of the budgetary legislators, agreed to finance the injection of new capital budgeted for in it. In the business plan, financing requirements of EUR 792 million for the period 2021 to 2024 was designated, half of which will be covered by the capital market.

In order to cope with the substantial impact of the COVID-19 pandemic on air traffic in the capital region, FBB shareholders will also make one-off payments of up to 300 million euros available in 2020 as an equity increase dependent on annual budgetary approval. In connection with the advice on how FBB should deal with the breakdown of air traffic caused by the pandemic, the shareholders agreed that the Executive Board should continue to prepare the application for exemption from the operating obligation of Tegel Airport and submit it to the shareholders for consideration after Easter. The shareholders did not pursue a more extensive request made by the Supervisory Board for an immediate application.

The shareholders reaffirmed their continued support for the airport company FBB and the successful implementation of the BER project.

Rainer Bretschneider, Chairman of the Supervisory Board of Flughafen Berlin Brandenburg GmbH: “The shareholders have convincingly confirmed that they stand behind the airport company and the opening of BER. With this in mind, they have unanimously agreed to make a contribution to ensure continued funding. And they will help the airport company with a capital increase in the upcoming difficult months when the collapsed flight operations will incur high costs and generate hardly any income. The shareholders also showed this solidarity on the matter of a temporary closure of Tegel Airport and agreed to revisit the issue after Easter.”

Prof. Dr.-Ing. Engelbert Lütke Daldrup, Chief Executive Officer of Flughafen Berlin Brandenburg GmbH: “I am pleased that the shareholders’ meeting has confirmed the FBB business plan. The total funding that has been approved gives us a solid basis for leading the airport company out of the red once the corona crisis has been overcome and BER has been opened. It is also important that the shareholders will be providing additional support to FBB in the current difficult situation. This decision confirms our previous efforts to proactively save costs where possible in the current situation to be able to survive these hard times for the company. Our aim is to continuously offer the capital region the flight operations that the overall situation requires, both during and after the crisis.”