A few days after Chancellor Olaf Scholz’s visit, it is now known what the rescue plan for Meyer Werft will look like in concrete terms.
As is well known, Meyer Werft currently has high liabilities resulting from the postponement of deliveries during the coronavirus crisis, among other things. According to previous information, Meyer Werft will be short of around €2.6bn by 2026. A loan of €500m is already due for repayment this fall.
Despite a good order situation, which has improved even further in recent weeks with orders for Disney and Royal Caribbean ships, the company is clearly not in a position to emerge from the crisis on its own. Even the construction of four more Disney ships was explicitly linked to the federal and state governments joining Meyer Werft.
The state is now supposed to fix it. Chancellor Scholz and Lower Saxony’s Minister President Stefan Weil did not make any concrete commitments during their visit – in view of ongoing negotiations, particularly with the banks. However, the key points were announced yet.
