EC clears financing plan for Berlin Brandenburg Airport

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European Commission regulators have approved the financing plan for Germany's new capital airport, Berlin Brandenburg International.

The Commission has cleared the conversion of €224 million in loans into equity and a capital increase of €430 million, and a guarantee of up to €2.4 billion from public shareholders of operator Flughafen Berlin Schonefeld.

Financing for the airport - which will be built on the Berlin Schonefeld Airport site and replace Berlin Tegel and Tempelhof - also includes a €74 million infrastructure grant.

In a statement the Commission says it has decided "not to raise any objections" to the financing of the new German hub.

Berlin Brandenburg will require investment of €3.6 billion ($4.9 billion). The balance will be provides from the airport's own resources, says the Commission.