Fraport 1H2020 financial report - recovery begins, but slowly
Half-year airport financial reports for 2020 are coming thick and fast now. At the same time in 2019 operators would not have believed that the equivalent period this year would reveal revenue losses of 50% or more, EBITDA down by 95%, and net profits destroyed.
Fraport, which apart from its Frankfurt hub operates airports or contracts for specific segments such as retail operations across the world, is no different.
But while those international operations have largely dragged down the core German activity with the exception of the Lima airport, Fraport, like other operators, has reported that retail operations have not been as badly impacted as other revenue streams.
Construction will be halted on all projects apart from Terminal 3 at Frankfurt, while up to 4,000 jobs will be shed permanently.
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