Berlin looking for private investors for Willy Brandt International airport

5 July 2015 (Last Updated July 5th, 2015 18:30)

The German Government is pursuing private investors to own a stake in the new international airport being built in Schönefeld.

The German Government is pursuing private investors to own a stake in the new international airport being built in Schönefeld.

The opening of the $5.7bn Willy Brandt International airport has been repeatedly delayed due to issues ranging from poor construction planning, management and execution to corruption.

While the airport, to be jointly owned by the city of Berlin, the state of Brandenburg and German Government, was originally slated to open in 2010, the date was deferred to 2012 and then to the current 2017.

"It is also being speculated that the government is interested in selling its 26% stake in the airport."

Bild am Sonntag quoted unnamed sources as saying that investors such as Macquarie and JP Morgan will be presented with confidential details about the airport's business plans to help them make concrete offers.

However, Reuters quoted an airport spokesperson as saying that there was no new development regarding the airport's potential privatisation.

The airport is currently said to be in a pre-notification phase where it has to demonstrate its potential return on investment for any private investor.

A detailed report on the feasibility of privatisation is expected by the end of the year. It is also being speculated that the government is interested in selling its 26% stake in the airport.

Once completed, the airport is expected to replace both Schönefeld and Berlin Tegel Airport to become the single commercial airport that will serve the country's capital and the neighbouring state of Brandenburg.

The proposed airport has a projected annual passenger capacity of 27 million.