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E.U.: The financing of Munich airport’s terminal 2 does not contain aid

By  |  October 3, 2012

The European Commission has concluded that financial arrangements regarding Munich airport’s terminal 2 are in line with EU state aid rules. In particular, the Commission found that loans by public entities to finance terminal 2 as of 2000 were granted on market terms and therefore did not involve state aid in the meaning of EU rules. Before 2000, EU state aid rules did not apply to the financing of airport infrastructure. The Commission also found that loans granted after that date by the German public credit institution for development Kreditanstalt für Wiederaufbau (KfW) and by the Bavarian public bank Bayerische Landesbank were granted on terms that a private investor operating under market conditions would have accepted (the market economy investor principle – MEIP) and therefore conferred no economic advantage to the operators and owners of terminal 2.

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