The ailing Meyer Werft, known for building cruise ships, is set to be rescued by the federal government and the state of Lower Saxony. They plan to acquire 80% of the shares for 400 million euros and provide guarantees in the billions.
The shipyard must raise almost 2.8 billion euros by the end of 2027 for new cruise ship construction. To preserve over 20,000 jobs and the maritime industry in Germany, the state aims to offer a buyback option for the Meyer family owners.
However, economic expert Fratzscher sees no good reason for the state rescue. The rescue still requires approval from the budget committees.
Opposition leader Lechner emphasizes that the state's involvement must be temporary, while the AfD warns against possible Chinese participation if the state were to sell its shares again. The shipyard's financial difficulties are not due to a lack of orders.
The aim is to prevent bankruptcy and 20,000 job losses. The rescue plan includes guarantees of 1 billion euros each from the federal government and the state.
The final decisions are pending, as the shipyard is facing challenges such as increased energy and raw material prices, as well as delayed ship payments.
