German company Fraport, which manages Frankfurt Airport (FRA), recorded a net profit of 98 million euros between January and September this year. The result is explained by the dynamic growth in passenger volumes and the consequent increase in revenues.
In a report published today, the company highlighted the increase in activity at Germany’s largest airport in 2022. Looking ahead to the last three months of the year, Fraport projects total passenger traffic to reach between 45 and 50 million. In addition, it expects to close the year with revenues of just over 3 billion euros.
«Over the past nine months, demand has surged dynamically», said Stefan Schulte, the company’s CEO. He also remarked that recovery accelerated from March onwards and continued in the same direction until today. «This brisk growth is being driven by strong demand from leisure travelers», Schulte explained.
He further explained that «airports of Fraport’s international portfolio that are located in popular holiday regions are benefiting to an especially great extent from this trend». «Our Greek airports have performed particularly well, even exceeding the volumes of pre-crisis 2019 during the first nine months of the year», he stressed in that regard.
Fraport’s main results for the first nine months of 2022
- Frankfurt Airport welcomed a total of 35.9 million passengers between January and September this year.
- In several of the months, the volume exceeded the levels of the corresponding period of the previous year by more than 100%. The peak was reached in April, when the number of travellers tripled compared to the same month in 2021.
- Between July and September, Frankfurt Airport achieved a 74% recovery compared to 2019 levels. The recovery of Lufthansa, the largest operator at the air station, which is its main hub, proved key: the German carrier now accounts for 74% of total seat offer and operates 78% of flights at Frankfurt.
- Cargo volumes declined by 12.9% year-on-year, due to the general economic situation, impacted by rising costs and inflation growth, as well as sanitary restrictions in China and persistent airspace restrictions due to the war in Ukraine.
- Fraport-managed airports in Greece were 3.1% above the activity levels recorded in 2019.
- In the third quarter, network airports outside Germany achieved 93% recovery compared to the same period in 2019.
- Sustained demand from leisure passengers during the European summer season drove a 46% year-on-year increase in the company’s revenues. Fraport reported revenues of 925.6 million euros in the third quarter of 2022.
