German airports expect $1.75B loss in 2021

BERLIN

The German Airports Association (ADV) said Tuesday that the country’s airports expect a €1.5 billion ($1.75 billion) loss in 2021 despite increasing air traffic.

Association chief Stefan Schulte told a conference in Berlin that airports' economic condition is difficult although there were more passengers during the summer.

The number of passengers in 2021 is expected to be 35% less than pre-pandemic 2019 figures, he said.

Schulte, who is also the CEO of the largest German airport in Frankfurt, said airports can gradually reach 2019 figures after 2024.

Germany's airport lost €2.1 billion last year due to the pandemic measures.

*Writing by Gokhan Ergocun from Istanbul