The German government is planning a rescue package worth 900 million euros, equivalent to 7.5 billion kronor, for the country's pandemic-hit airports.

This is reported by Bloomberg News.

According to a document seen by the news agency, Berlin-Brandenburg, Cologne-Bonn and Munich airports will receive a package of loans and equity investments worth more than 400 million euros. In addition, twelve other airports, including Frankfurt, will receive 200 million euros. The air traffic control authority Deutsche Flugsicherung will also receive an additional 300 million euros in exchange for shares.

The package is another attempt by the state to help the aviation sector, since the federal government last year became the largest owner of the airline Lufthansa through a rescue program worth 9 billion euros.

According to the airports' trade association ADV, German airports are expected to lose a total of 3 billion euros in 2020 and 2021. The country's airports are in many cases owned by local or regional authorities, with private investors such as Avi Alliance as co-owners in some cases.

Source: Nyhetsbyrån Direkt