Frankfurt airport posts profit in 2003

30th March 2004, Comments 0 comments

30 March 2004 , FRANKFURT - Frankfurt airport company Fraport AG reported Tuesday that it achieved a net profit of EUR 115.2 million in 2003, in a turnaround from the EUR 120.8 million losses the year before. The company said the results came on revenues of EUR 1.83 billion, a rise of 1.7 percent from 2002 despite the slump in the worldwide aviation sector. Fraport said it would pay a dividend of EUR 0.44 per share after foregoing a payout last year. The company's chief concern now is getting a further run

30 March 2004

FRANKFURT - Frankfurt airport company Fraport AG reported Tuesday that it achieved a net profit of EUR 115.2 million in 2003, in a turnaround from the EUR 120.8 million losses the year before.

The company said the results came on revenues of EUR 1.83 billion, a rise of 1.7 percent from 2002 despite the slump in the worldwide aviation sector.

Fraport said it would pay a dividend of EUR 0.44 per share after foregoing a payout last year.

The company's chief concern now is getting a further runway built at Frankfurt airport, which has reached its capacity limits, company chairman Wilhelm Bender said.

"We urgently need a new runway," he said, expressing frustration at legal challenges posed by local communities and environmentalists to try to block the project. Fraport aims to invest EUR 3.4 billion for the runway and a new terminal building.

"If the runway is not built or is delayed, it could mean that the traffic patterns will bypass Frankfurt in the foreseeable future," Bender warned.

Frankfurt's international Rhein-Main airport is the country's busiest and the main hub of operations for the German airline Lufthansa. But the airport is facing increasing competition from Munich's international airport, among others, in Germany.

DPA

Subject: German news 

 

 

 

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