Insolvency in own administration: We are opened for you as usually
Last week the insolvency in own administration has started. For our passengers nothing will change. We remain a commercial airport with 24/7 operation and enable handlings for aircrafts up to category E (e. g. Boeing 777). The travel agencies inside the terminal are also opened.
Remediation as a chance
The corona pandemic has not alone caused the need for extensive process and personnel changes at the airport but has greatly accelerated it.
But it also includes a chance. The airport has worked on a remediation concept to have a stable amount of revenues and costs even in times with less traffic.
The financial requirements of the airport amount to maximum 12.5 million euros in an insolvency in own administration. This value also includes a seed capital of 3 million euros. We are confident, that the financial processes will take place by the shareholders. All other alternatives include higher costs and risks.
The exit intentions of some shareholders do not influence the remediation process. These discussions are very important and necessary. It is decisive, that all shareholders will be involved in the remediation costs and that the remaining shareholders will make a long-term commitment to our airport.
Long-term continuation of operation at the airport
The upcoming remediation will not change the status of our airport. It will continue to be a commercial airport with 24/7 operation and enables handlings of aircrafts up to category E (e. g. Boeing 777).
The amount of personnel from the airport is sufficient for aircraft and passenger handling with up to 300.000 passengers or 3.500 flights (line and touristic) per year.
Due to the remediation it is necessary to reduce the amount of personnel from currently 170 to about 65 employees. A social compensation plan for the implementation of this bitter measure is currently being negotiated with the company partners. The airport and shareholders will help in the process of placing the affected employees in a new employment.
The remediation has the goal, to restrict the financing of the shareholders on costs for sovereign tasks to continue operations (on about 2.5 million euros p.a.).