The Impact of the Berlin Airport Project on the Business Performance of Its Owner Company

We assess the impact of the Airport Project Berlin Brandenburg (BER) on the business performance of its owner company, using financial accounting data from Flughafengesellschaft Berlin Brandenburg m.b.H. (FBB) and eight control cases for 2005 through 2023. We analyze how the BER project influenced FBB’s revenues, cost, profitability, equity, and liabilities. The total value consumed by the BER project amounts to €11.915 billion. A forecast of business prospects until 2030 indicates enduring problems. We contribute to the literature by empirically quantifying the impact of poor governance and decision-making failures on project stakeholders. Further, our study shows the usefulness of publicly available financial data for analyzing megaprojects.