Germany’s Largest Airport Operator Posts Record Profits

Germany’s Largest Airport Operator Posts Record Profits

BERLIN, Mac 20 (NNN-XINHUA) – German airport operator, Fraport, announced yesterday that, it has concluded the 2023 fiscal year with record revenue and operating result due to a “continued recovery in passenger numbers.”

The company’s net profit more than doubled to 430.5 million euros (about 467.1 million U.S. dollars). Its annual revenue rose by 25.2 percent to around four billion euros, resulting in an operating profit of 1.2 billion euros.

“Traffic continued to develop dynamically throughout 2023,” said Stefan Schulte, CEO of Fraport AG, adding that, the company “benefited from this trend particularly because of its broad international portfolio.”

Passenger numbers continued to rise in 2023, with its home-base, the Frankfurt Airport, the country’s largest, seeing a total of 59.4 million passengers and a year-on-year increase of 21.3 percent.

However, cargo volumes in Frankfurt declined by 3.9 percent, year on year, to around 1.9 million metric tonnes during 2023. This was due to “general market-based factors, such as restrictions in European airspace and weak economic growth,” Fraport said.

With the upcoming increase of Germany’s air traffic tax and aviation security charges, Fraport warned of “even more challenging framework conditions” for airport operators. (1 euro = 1.08 U.S. dollars)


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