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Final curtain for Bitburg airport project
Economics

Final curtain for Bitburg airport project

05.03.2013 From our online archive
Luxembourg investor Frank Lamparski is being forced to give up his share in Bitburg airport after he failed to find investors for an ambitious airport project.

(CS/AK) Luxembourg investor Frank Lamparski is being forced to give up his share in Bitburg airport after he failed to find investors for an ambitious airport project.

Lamparksi wanted to turn the former German air base into an international hub in the Eiffel region. However, he missed an Easter 2012 deadline to supply the capital needed to kick off the 400 million euro project.

After the 40 percent shareholder failed to make payments to the “Flugplatz Bitburg GmbH” to cover annual financial losses, the latter has now decided to withdraw Lamparski's shares, according to reports by German daily “Trierischer Volksfreund”.

But, the future of the airport still remains unclear. Volksfreund.de reports that a group of investors is interested in buying the airport for a symbolic euro, taking on the 185,000 euro loss for 2012, to use it as a sport aviation airport.

Lamparski's role in the airport saga, however, seems to have come to an end.