FRANKFURT,
November 6 /PRNewswire-FirstCall/ -- In the first three
quarters of fiscal year 2008 all key traffic and financial indicators of the
Fraport Group continued to improve. Frankfurt Airport (FRA) welcomed 0.1
percent more passengers, while Group-wide Fraport recorded 1.9 percent
passenger growth. Airfreight tonnage rose by 1.2 percent at FRA and climbed
by 2.9 percent for the Fraport Group's airports combined. With
EUR 1.6
billion, sales revenue fell 8.8 percent short of the previous year's level.
However, adjusted for the extraordinary effects in the first nine months of
2007, Group revenue jumped by 4.4 percent. Unadjusted, EBITDA (earnings
before interest, taxes, depreciation and amortization) increased by 0.4
percent to
EUR492.5 million; the adjusted EBITDA grew by 1.8 percent. Group
profit advanced by 0.6 percent year-on-year to
EUR 220 million.
Fraport AG's executive board chairman Dr. Wilhelm Bender said that after
the satisfying rates of increase in the first half of 2008, "the economic
development with its downward business trend" as well as the global financial
crisis have affected world air traffic and thus Fraport's operating business.
At Frankfurt Airport, Fraport recorded 41.1 million passengers from
January through September 2008, up 0.1 percent year-on-year. Airfreight
throughput increased by 1.2 percent to 1.56 million metric tons, and aircraft
movements dropped by 0.7 percent to approximately 368,000 takeoffs and
landings. At Fraport's majority-owned airports, the number of passengers
climbed by 1.9 percent to 61 million, while cargo (airfreight and airmail)
rose by 2.9 percent to 1.9 million metric tons.
In particular, accumulated maximum takeoff weights (MTOWs) developed
positively at Frankfurt Airport, increasing by 1.3 percent over the
comparable January-to-September 2007 period to 21.5 million metric tons.
Because MTOWs are an indicator of aircraft size, "this means that the share
of the lucrative intercontinental traffic at FRA has increased further"
explained Bender. About 70 percent of all intercontinental flights to Germany
land at Frankfurt. Bender called this a positive development, because "most
long-haul passengers have strong purchasing power and a large propensity to
spend." Furthermore, long-haul flights are mainly operated with widebody
jets, which "earn us attractive fees and make particularly efficient use of
our constrained capacities."
Bender stated that expansion of Frankfurt Airport's runway capacity was
progressing on schedule. With the zoning approval for a new landing runway
issued in January 2008, Bender expects the Hesse Administrative High Court in
Kassel to render a positive decision in the fast-track proceedings by the
beginning of 2009. "Then, we will start constructing the landing runway and
open it for the 2011 winter timetable," said Bender.
This capacity expansion is essential for Fraport, despite the temporary
stagnation or slide in traffic figures, emphasized Fraport's Bender. The
excess demand seen at FRA for many years continues unabated. Furthermore,
experience has demonstrated that after every crisis or phase of stagnation,
world air traffic rebounds with over-proportionate growth rates: "After every
global crisis, traffic here at Frankfurt Airport not only recovered but
regularly recovered at overcompensating rates," explained Fraport's executive
board chairman. For example, passenger figures at FRA slumped by nearly five
percent during the 1991/1992 Gulf war, but after the war traffic rebounded to
annual grow rates of more than eight percent. And after the 9/11 terrorist
attacks in 2001, the Iraq war and the SARS epidemic, Fraport already
registered 5.7 percent more passengers at FRA in 2004.
Until the opening of the new landing runway, Fraport plans to continue
modernization as well as service and capacity optimization of the existing
infrastructure at Frankfurt Airport. Thus, the international Pier B in
Terminal 1 will be completely redesigned. Furthermore, construction will
start on Pier A West, a brand new flight pier and a central building with a
total of 160,000 square meters of space, which will create additional
capacity for six million passengers per year.
In addition, development of Frankfurt Airport City is progressing. The
nine-story Airrail Center on the rooftop of FRA's Long-distance Train Station
is currently under construction; the new Gateway Gardens city district is
being developed at the northern side of the airport; and a modern commercial
and office park for logistics, trade and other aviation-related enterprises
is mushrooming at the 110-hectare Monchhof site west of FRA.
Bender underscored that the company's External Activities segment will
continue to play a vital role in developing and expanding the Fraport Group's
business portfolio. In the current business year, approximately 170 million
passengers will use the thirteen airports where Fraport is involved either
via equity investments or management contracts. After the official launch of
the German-Chinese joint-venture at Xi'an Airport, in which Fraport holds a
24.5 percent share, Fraport's executive board chairman has continued
negotiating other projects in China. Thus, the company has already signed
memorandums of understanding in Qingdao and Kunming. "We will of course
remain active in other countries and regions of the world, too," emphasized
Bender. However, Fraport will continue its policy of not acting as a mere
financial investor and will get involved only where the company can
profitably market its know-how and expertise gained over many decades of
successfully operating Frankfurt Airport as one of the world's biggest air
transportation hubs.
With an eye on the current development of the global economy, Bender said
that Fraport anticipates passenger traffic at FRA to decline by between 1.0
and 1.5 percent in 2008. However, FRA's particularly attractive
intercontinental passenger sector will continue to develop positively with
1.0 percent growth. Group-wide Fraport expects passenger growth of 1.0
percent, as well.
Overall, Fraport is well positioned for the future because of its
productivity, high standard of services, and professionalism - recognized and
in demand around the world.
For More Information, Please Contact:
Fraport AG Frankfurt Airport Services Worldwide,
Robert A. Payne, B.A.A. - Manager International Press,
Press Office (Dept. UKM-PS), Corporate Communications (UKM),
60547 Frankfurt am Main, Federal Republic of Germany,
Tel.: +49-69-690-78547; Fax: +49-69-690-60548;
E-mail: r.payne@fraport.de; Internet: http://www.fraport.com
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