Controversial Decision

Deutsche Bank's Inexplicable Airport Guarantee

Blick am 18.03.2015 auf eine Baustelle am Südpier des neuen Hauptstadtflughafens Berlin Brandenburg Willy Brandt (BER) in Schönefeld (Brandenburg). Am selben Tag wurde Journalisten während eines Presserundganges der derzeitige Baustand am neuen Hauptstadtflughafen gezeigt. Foto: Patrick Pleul/dpa +++(c) dpa - Bildfunk+++
The Berlin Brandenburg Airport.
  • Why it matters

    Why it matters

    • Deutsche Bank could get drawn into the bribery scandal plaguing the new Berlin airport over a €25-million guarantee.
  • Facts


    • In 2012 Deutsche Bank issued a guarantee for €25 million for a deal between Imtech and the Berlin Brandenburg Airport.
    • Internal airport investigators are only able to account for €7 million in services provided by now bankrupt Imtech.
    • Berlin Brandenburg Airport is ultimately meant to merge with Berlin Schönefeld Airport and replace Berlin Tegel Airport.
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Deutsche Bank is well acquainted with its lawyers. It faces law suits on multiple fronts, and one of the more tricky ones is a €25 million guarantee it signed in December 2012 for the new Berlin Brandenberg Airport.

Now, over three years later, that document is at the heart of an investigation into corruption and bribery over the as yet unopened airport, which is now embarrasingly over budget and way over schedule.

The guarantee is related to Imtech, the now bankrupt construction company that worked on the Berlin Brandenburg Airport, and which asked the airport operator for a €25 million advance on payment.

Auditors looking into Imtech’s accounts could not find any legitimate reason why Imtech needed the money up front. So Deutsche Bank agreed to take on the risk, guaranteeing a €25 million payment from Berlin Brandenburg Airport to Imtech.

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