Fraport Group has kicked off the fiscal year 2024 with a remarkable performance in the first quarter, marked by double-digit growth rates across key financial indicators. Revenue surged by 16.3% to €890.2 million, driven by continued passenger expansion at its global network of airports. EBITDA soared by 34.3% to €212.6 million, while net profit rebounded to €12.7 million from a loss of €32.6 million in the same period last year.
Despite challenges such as strikes and weather-related cancellations at Frankfurt Airport, CEO Dr Stefan Schulte expressed confidence in the positive trajectory, particularly highlighting growth at international subsidiaries. Passenger numbers at Frankfurt Airport increased by 10.4%, reaching 12.5 million, representing 85% of pre-crisis levels. Additionally, other gateways like Antalya Airport, Greek airports, and Lima Airport exceeded pre-crisis levels, indicating a broader recovery.
The optimistic outlook for the full fiscal year 2024 remains unchanged, with Fraport expecting passenger numbers at Frankfurt Airport to range between 61 million and 65 million travellers and projecting Group EBITDA between €1,260 million and €1,360 million. Net profit is forecasted to be between €435 million and €530 million, underscoring Fraport’s resilience and strategic growth initiatives.
This post was published on 14 May 2024 15:34
Airbus is preparing to decide on an expansion of A350 production capacity as airlines seek…
Ryanair responded to a passenger’s complaint about its windowless seat 11A with a characteristic social-media…
VINCI Airports has launched the redevelopment of Terminal 2 at Lyon-Saint Exupéry Airport, with opening…
Joshua Wander, co-founder and chief executive of 777 Partners, the investment firm that financed failed…
Condor has launched daily flights between Berlin Brandenburg and Abu Dhabi, operated in codeshare with…
Delta Air Lines will introduce daily seasonal flights between Boston and Reykjavík Keflavík on 12…