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Fraport expecting EUR80m improvement in EBITDA for 2010

3-Jun-2010 9:27 AM

Germany's Fraport AG Chairman, Dr Stefan Schulte, announced (02-Jun-2010)  the airport management group had weathered the financial crisis well and took advantage of the time to implement far-reaching decisions for the future. For the current year, Dr Schulte expects revenue to rise thanks to the recovery in air traffic and the positive development of the group's airports, which should result in about an EUR80 million improvement in EBITDA to EUR635 million. Despite the ash cloud disruptions, the outlook is that passenger traffic will grow by 1%-2% for 2010.

Dr Schulte stated the construction launch of Frankfurt Airport's new runway north-west is an essential step in the company's development. The FRA capacity expansion programme, started last year, is on schedule, with inauguration of the new runway planned for the beginning of winter 2011-12. Preparations are underway for pouring the concrete of the runway. Work is progressing on the taxiway bridges that will link the runway with the airport apron. The airport is also planning to expand Terminal 1 with a new departure gate (World Interior Design Network, 02-Jun-2010). The project includes seven airport building positions for A380 aircraft and three additional apron positions. Under the project, Fraport AG also awarded Beumer a USD31 million contract to provide equipment to extend Frankfurt Airport’s baggage system. The contract requires Beumer to provide a conveying system for Terminal 1 for the transport of outbound luggage in containers. The installation work is to commence in summer 2010 and is expected to be completed in Aug-2012. [more]