Fraport seeks greater international expansion
Fraport stated it plans to expand holdings in foreign airports (Deutsche Welle, 26-May-2011). According to CEO Stefan Schulte, Fraport is interested in Greek airports, where the government is currently considering selling off state-owned assets as part of plans to address its sovereign debt levels and win further support from the EU and IMF. Fraport would be interested specifically Athens International Airport. The Greek government owns 55% of Athens International, with Hochtief holding 40%. Mr Schulte said Fraport looks for opportunities where it can exercise “influence on management”. Fraport has stakes in or management contracts with airports in 13 cities, including Cairo, Delhi and Lima, in addition to Frankfurt. “It's become a buyer's market as many European countries are now looking at privatisation because of their financial situation," spokesman Robert Payne said.
Fraport: "We're not an investment company but an airport operator. In some airports we have majority stakes, in some minority stakes, and in others management contracts where we work side by side with airport operators. Our involvement depends on the conditions and on whether the deal fits into our model, and also on factors like the return on investment and the level of risk." Robert Payne, spokesman. Source: Deutsche Welle, 26-May-2011.