Cologne needs help: 100 million euros applied for

Airbus A380 at Cologne / Bonn Airport (Photo: Cologne / Bonn Airport).
Airbus A380 at Cologne / Bonn Airport (Photo: Cologne / Bonn Airport).

Cologne needs help: 100 million euros applied for

Airbus A380 at Cologne / Bonn Airport (Photo: Cologne / Bonn Airport).
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The corona crisis has left deep marks on the finances of Cologne / Bonn Airport. The company is currently assuming that sales will drop to around 220 million euros. Meanwhile it became known that the board of directors had extended the contract with airport manager Johan Vanneste.

The management is currently assuming that sales in the current financial year will fall by 120 million euros and that the operating result will be 50 million euros below the previous year's figure. The current financial situation was described as tense in the aftermath of the most recent Supervisory Board meeting. For relief, 100 million euros are now to be applied for from the infrastructure corona fund of the state of North Rhine-Westphalia.

With regard to the number of passengers, the picture in Cologne / Bonn is also Trieste. In September, the number of travelers using this airport was 79 percent below the previous year's figure. Cologne is not an isolated case, however, because a similar picture can be seen at almost all European airports. The recovery of air traffic is not only advancing very slowly, but is also suffering from setbacks due to new entry and quarantine regulations. The consequence of this is that many airlines are reducing their capacities again.

The supervisory board is obviously of the opinion that Johan Vanneste is the right man to lead Cologne / Bonn out of the worst crisis in airport history. The manager has been in office since May 2018 and will remain so for longer. The company announced that the contract has been extended for five years.

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