Showing posts with label Fraport. Show all posts
Showing posts with label Fraport. Show all posts

14 March, 2023

Fraport's 2022 Fiscal Year Marked by Strong Demand

Fraport's 2022 Fiscal Year Marked by Strong Demand
Group result improves to €166.6 million – CEO Schulte expects continued traffic growth during summer by about 15 to 25 percent – Tighter climate targets for 2030: Fraport aims to cut carbon emissions by 78 percent compared to 1990 base-year

Fraport AG's business performance improved significantly in fiscal year 2022 (ending Dec 31). In the wake of the ending Covid pandemic and the gradual lifting of travel restrictions during 2022, high travel demand boosted all of the Group's key financial figures. The Group result (or net profit) climbed by 81.5 percent year-on-year to €166.6 million, surpassing Fraport's own guidance set at the start of the year.

Dr. Stefan Schulte, Fraport's CEO, said: „We're moving in the right direction. In the past fiscal year, we've seen particularly strong demand for air travel from leisure passengers and vacationers. Our Group airports worldwide also benefited from this trend. While demand was still restrained at the start of the year, passenger numbers in Frankfurt saw rapid growth of up to 300 percent from April onwards. In mid-2022, traffic surges with three-digit growth rates, combined with staff shortages, occasionally brought us to our limits when ramping up operations. Hence, I wish to extend my sincere thanks to all our employees for their commitment and dedication, and to our partners at Frankfurt Airport for their continuous support, including – and first and foremost – Lufthansa. All of us have worked hard every day to keep disruptions for passengers to a minimum." For the full year 2022, accumulated passenger numbers at Frankfurt Airport (FRA) achieved nearly 100 percent growth compared to 2021. Looking ahead to the current year, Dr. Schulte stated: "During the summer we expect passenger traffic to further grow by about 15 to 25 percent compared to 2022. All process partners continue to be fully committed to ensuring that more resources are available for the upcoming travel season. Our primary goal is to maintain stable operations and enhance our resilience in responding to irregular situations. This remains a challenging task in view of the structural factors we are facing, such as the geopolitically-related airspace restrictions and the current constraints on the German labor market." Another key issue highlighted by Dr. Schulte is Fraport's ongoing decarbonization program: "We're further intensifying our climate measures. Having successfully progressed with decarbonization in 2022, we are now aiming to reduce CO2 emissions in Frankfurt to 50,000 metric tons by 2030. This corresponds to a reduction of 78 percent compared to the 1990 reference year. Our goal is to become carbon free across the Group by 2045."

Passenger growth boosts business performance

Dampened by the spread of the omicron variant of the coronavirus at the start of the year, traffic rebounded strongly from March onwards, as travel restrictions in many countries were lifted. In Frankfurt, passenger traffic jumped by up to 300 percent year-on-year in April and subsequent months. During 2022, some 48.9 million passengers traveled via Germany's largest aviation hub, an increase of 97.2 percent year-on-year (but still 30.7 percent down compared to pre-crisis 2019). The airports in Fraport's international portfolio also reported rising passenger numbers. Fraport's Group airports serving holiday destinations recovered even more quickly than the FRA hub with its more complex travel demand patterns. Ranking first were the Greek airports, serving nearly four percent more passengers in 2022 than in pre-pandemic 2019 and achieving a new all-time record.

05 April, 2022

Fraport and TAV Pay €1.81 Billion Upfront Fee for the New Concession to Operate Antalya Airport to 2051

A joint venture of Fraport AG and TAV Airports paid Turkey’s state airports authority (DHMI) the required upfront fee for the new concession to operate Antalya Airport over a 25-year period. This upfront rental payment of €1.8125 billion represents 25 percent of the total concession fee of €7.25 billion (excluding VAT) for the full concession period from the beginning of 2027 to the end of 2051. Fraport and TAV Airports won the new concession in a competitive auction held in December 2021. The current Fraport-TAV Antalya concession expires at the end of 2026.

For more than two decades, Fraport – as an investor and airport manager – has successfully developed Antalya to become one of the leading tourism destinations in the Mediterranean region. Fraport CEO, Dr. Stefan Schulte stated: “Today’s upfront concession fee payment highlights our strong commitment to one of the most beautiful regions in the Mediterranean and our confidence in Antalya as a global brand. We believe that Antalya will see further growth in touristic demand. Many people will come because Antalya is a very attractive and competitive year-round destination.”

Known as the gateway to the Turkish Riviera, Antalya offers diverse cultural and historic treasures, culinary delights, pristine beaches, bustling nightlife, as well as international conferencing facilities, sports and events. Schulte added: “Together with our TAV Airports partner, we will continue to expand and transform Antalya Airport into a prime gateway for people from all around the world.”

Over the next three years, Fraport and TAV will also be enhancing Antalya Airport’s airside and terminal infrastructure, including further expansion of the existing international and domestic terminals.

In 2019, Antalya welcomed a record 35 million passengers. Due to the global pandemic, traffic fell to about 9.7 million in 2020. However, Antalya Airport was able to regain strong traffic momentum in 2021 again – especially in the summer and autumn months – to reach about 22 million passenger last year.

Follow this site here.

04 April, 2022

Fraport will continue to hold a quarter stake in St Petersburg Airport until 2025 at the earliest.

Fraport will continue to hold a quarter stake in
 St Petersburg Airport until 2025 at the earliest.


The boss of the German Airport operator Fraport has confirmed his company will not sell its quarter stake in the Russian airport operators of St Petersburg for at least three years and maybe longer. 

Stefan Schulte confirmed the details in a news conference held today,  he said the firm's concession is linked to a sales ban until 2025 and any sale wouldn’t benefit Ukraine.  It is doubtful if Fraport will even divest itself of the stake in the airport in 2025, currently thinking at the German firm according to local sources, is that the war in Ukraine will be over by then and the public’s attention will be drawn elsewhere.  

"We only hold a 25% stake in the airport operator, so we are not involved in airport operations ourselves. But we also have no way of influencing take-off and landing rights," Schulte said at the conference and the firm has previously stated it has stopped all business activities in Russia.

Follow this site here.