The countdown is on: The financing of Leipzig/Halle and Dresden Airports is secured until the end of 2026, after which a new chapter begins - with an open outcome. From 2027, Saxony-Anhalt no longer wants to participate in the subsidies for the losses of Dresden Airport. What sounds technical is politically and economically explosive. The decision touches on the fundamental question of what role the two airports should play in the future - and who is prepared to pay for it.
Two airports, two roles
Leipzig/Halle and Dresden currently fulfill very different functions. While Leipzig/Halle is sharpening its profile as a cargo hub with additional vacation traffic, Dresden Airport is primarily seen as a location for business and industrial connections. "Leipzig and Dresden will certainly no longer become intercontinental hubs, as was once hoped for in the 1990s," says Lars Fiehler, Managing Director of the Dresden Chamber of Industry and Commerce (IHK). But they could be solid airports.
For Dresden, the IHK points to the needs of industry. Investments in the semiconductor industry create demand for stable connections to international hubs such as Frankfurt, Munich or Amsterdam. The location is also indispensable for Elbe Flugzeugwerke. The airport is therefore "more than just a transport hub - it is a strategic location factor for economic development, international connections, securing skilled workers and attracting investors", said Fiehler.
Restructuring under time pressure
At the same time, the operator, Mitteldeutsche Flughafen AG (MFAG), is under economic pressure. In 2024, the Group recorded the highest loss in its history at 53.5 million euros. An acute financial crisis could only be averted with new bank loans and additional subsidies from the shareholders. A financing gap of around 145 million euros was closed, securing operations until the end of 2026.
MFAG is now focusing on a strict restructuring and consolidation course. The aim is to achieve a positive operating result for the first time by 2026. Plans include cost reductions, job cuts and a stronger focus on core tasks. In the view of the Chamber of Industry and Commerce, the transition to profitability by 2026 with unchanged capacities and flight offerings is "very ambitious".
Why Saxony-Anhalt wants to exit
From 2027, new uncertainty looms, especially for Dresden. The background to this is the ownership structure of MFAG. The main owners are the Free State of Saxony with around 77.3 percent of the shares and the state of Saxony-Anhalt with around 18.5 percent. Further shares are held by the cities of Leipzig, Dresden and Halle.
Saxony-Anhalt is sticking to its policy of no longer participating in state subsidies for Dresden Airport in future. The Ministry of Finance in Magdeburg cites different state interests as the reason for this.
"While the Free State of Saxony has a direct state interest in both airport locations, the state of Saxony-Anhalt only has a direct regional economic interest in the Leipzig/Halle location due to its proximity to the state border," says the ministry. The state expressly rules out any further financing of Dresden Airport.
Saxony stands by Dresden Airport
Saxony emphasizes its responsibility for both locations. "Leipzig/Halle and Dresden Airports continue to be important components of the public infrastructure - with great significance for the economy, supply and regional development," said Finance Minister Christian Piwarz (CDU). The aim remains to stabilize both locations economically in the long term and make them fit for the future.
Should Saxony-Anhalt withdraw, Saxony has signalled its willingness to continue supporting Dresden Airport. Another form of financing is also conceivable, such as the partial reimbursement of expenses from non-economic activities, for example for firefighting or security.
MFAG as a group
According to the two main shareholders, there are currently no concrete plans to separate Dresden Airport from the joint holding company. Both states refer to MFAG's internal group structures. Central tasks such as finance and accounting, controlling, IT, purchasing and human resources are carried out across the group. These synergy effects would be eliminated in the event of a spin-off.
In November, Saxony-Anhalt also emphasized that it had confidence in MFAG's sustainable competitiveness and positive going concern forecast by the auditing firm KPMG - provided that the restructuring course was implemented consistently.
Decision draws closer
From the perspective of the Dresden Chamber of Industry and Commerce, however, this alone is not enough. "Keeping airports afloat for years with sums in the millions, but never restructuring them in depth, cannot be a sustainable business model," says Fiehler. What is needed is a consistent realignment and an adjustment of capacities to actual demand.
The IHK also sees opportunities for Dresden beyond flight operations, for example through the sale or rental of space. IHK President Andreas Sperl brought up the possibility of a spin-off and privatization of Dresden Airport.
The talks between Saxony and Saxony-Anhalt on financing from 2027 are close to completion, according to both sides. An agreement is to be presented at the beginning of 2026. Until then, the operation of the airports remains secured - but the long-term role of Dresden Airport remains open.
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