Highs and lows in Germany - Fraport sells Hahn, Munich profits jump
Fraport went ahead with its threat to sell off its stake in the low cost Hahn airport on 03-Feb-09. The decision is effective from 01-Jan-09. Another blow for 'budget' airports sees the facility revert to public sector ownership as traffic fades at the Frankfurt Main airport, too. Meanwhile, Infratil is still to decide if it will relinquish its majority stake in Luebeck Airport as traffic growth there remains unsatisfactory. No such problems for Munich airport, which continues to expand and has improved its bottom line by 6.7% in 2008. [1701 words]
Unlock the following content in this report:
- Frankfurt-Hahn Airport fails to make the grade
- Fraport could not afford to be lumbered with losses forever
- Continuing poor results leave Luebeck's future ownership in question
- Stay of execution
- Munich barely affected by the downturn - so far
- Job engine is in full production
- Egelsbach GA airfield to join the Buffett Empire
Graphs and data:
- Frankfurt passenger numbers and passenger number growth: 2003 to 2008
- Luebeck Airport passenger traffic 2001-2008.
- Munich, Frankfurt and Frankfurt-Hahn Airport comparative passenger number growth (% year-on-year): Jan-08 to Dec-08
- Munich Airport passenger numbers and passenger number growth: 2003 to 2008
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