(Bloomberg) -- Germany secured European Commission approval to provide Berlin Brandenburg airport with a 1.7 billion-euro ($1.9 billion) bailout as it struggles to survive after opening mid-way through the pandemic.
The European Union's executive arm said in a statement Tuesday that the German government and the states of Berlin and Brandenburg can proceed with plans to recapitalize Flughafen Berlin Brandenburg GmbH, which runs the hub.
“Airports have been hit particularly hard by the coronavirus outbreak,” EU Competition Commissioner Margrethe Vestager said. “With this measure, Germany will contribute to reinforcing Berlin Brandenburg's equity position and help the company face the economic effects of the outbreak.”
The rescue marks another bump in the airport's short but troubled history. Construction began in 2006 but a planned launch six years later was scrapped weeks in advance with tickets already on sale. The hub finally opened in October 2020 during the first wave of the pandemic and immediately began racking up losses as it incurred costs with travel still largely outlawed.
Read More: Berlin's $7 Billion Airport Finally Opens in Depths of a Crisis
The support, approved under the EU's state aid temporary framework, comes with “strings attached to limit undue distortions of competition,” Vestager said.
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