Aircraft movement - Fraport progressing steadily in implementation of airport expansion plans
Fraport, the operator of Frankfurt Airport, is gearing up for international expansion. According to CEO Stefan Schulte, the third passenger terminal in Frankfurt will open after the Easter holiday season in 2026. This will boost the airport's capacity by around 19 million passengers, thanks to a 4 billion euro investment. However, the existing Terminal 2 will be temporarily shut down for renovation.
Additionally, a solar park will be constructed along the Frankfurt runway west this year, with 37,000 photovoltaic modules being installed.
Fraport's global expansion plans are well underway. The new terminal at Lima Airport in Peru, slated to open this year, will boost capacity in the Peruvian capital to over 40 million passengers, thanks to the addition of two runways. The joint venture airport in Antalya with partner TAV is also expected to handle 65 million passengers annually once completion work is finished before the 2025 peak travel season.
The Fraport-operated airport in Porto Alegre, Brazil, remains closed due to the historical floods in the country. While there were no fatalities among the employees, many lost their homes. Fraport has provided assistance and financial aid to those affected. The flood damage is still being assessed, and the company is insured and in discussions with the government. Temporary arrangements are in place for civil air traffic at a military airport.
Fraport is on track for record sales and profits. Schulte confirmed the forecast of 61-65 million passengers at the home hub and strong international growth. The profit is likely to surpass the pre-pandemic year of 2019 with 454 million euros this year. The management is entertaining a higher forecast of up to 530 million euros. However, this does not guarantee a dividend for shareholders. Owing to the high debt level, no dividends are planned for 2024. This situation is likely to change after the opening of Terminal 3.
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- Fraport, being headquartered in Hesse and Frankfurt am Main, Germany, is currently executing its airport expansion plans.
- Frankfurt Airport, operated by Fraport, will see the opening of a third passenger terminal in 2026, located in Frankfurt itself.
- Stefan Schulte, as CEO of Fraport, announced that the new terminal at Frankfurt Airport will increase capacity by approximately 19 million passengers, following a significant 4 billion euro investment.
- Apart from Frankfurt, Fraport is also focusing on international expansion, including a solar park construction along Frankfurt's runway west this year.
- In addition to Frankfurt, the company is involved in projects like the new terminal at Lima Airport in Peru, due to open this year, which will be capable of handling over 40 million passengers.
- Furthermore, Fraport's joint venture airport in Antalya, Turkey, with partner TAV, is projected to manage around 65 million passengers annually after completion, benefiting from two additional runways.
Source: www.stern.de
