LEIPZIG (dpa-AFX) - Mitteldeutsche Flughafen AG (MFAG) is in considerable financial difficulties. According to a report by the auditing company KPMG, MFAG, which operates Leipzig/Halle and Dresden airports, needs 145 million euros, as a spokesperson said on Tuesday in response to an inquiry. A restructuring and transformation concept is to be implemented in order to secure the company's future. "In this context, we would also like to point out that Mitteldeutsche Flughafen AG is not or has not been involved in insolvency proceedings," the spokesperson emphasized. MDR and the Leipziger Volkszeitung had previously reported.

According to these reports, an internal paper from the Saxon Ministry of Finance shows that MFAG is to be saved from insolvency with a state financial injection worth millions. Because restructuring targets were not met, banks refused to extend agreed loans. Now the two main shareholders, the Free State of Saxony and the State of Saxony-Anhalt, are to pledge at least 100 million euros to ensure that the banks continue to lend and do not call in loans prematurely. Saxony's Ministry of Finance did not wish to comment on this at first. The Free State of Saxony owns 77.29 percent of MFAG, Saxony-Anhalt holds 18.54 percent.

Banks and shareholders are currently organizing a financing package to support MFAG, the Saxony-Anhalt Ministry of Finance announced on request. In addition to the injection of fresh capital by the public shareholders, existing bank loans are also to be increased and a restructuring and reorganization programme for MFAG is to be implemented. The planned state share of Saxony-Anhalt - subject to the approval of the budget legislator - amounts to 18.7 million euros.

According to the KPMG report, MFAG is competitive compared to its competitors within its market segment, the spokesperson emphasized. This assessment is based on the high growth potential in the areas of logistics and space development as well as moderate growth in passenger volumes - particularly in tourist traffic./jan/DP/mis