Fraport AG, the owner and
operator of Frankfurt airport, is to receive some €160 million from the German
and State of Hesse governments as compensation for costs incurred to maintain the airport’s operational readiness
during the first coronavirus lockdown in 2020.
The decision was announced by Germany’s
federal minister of transport and digital infrastructure, Andreas Scheuer, and
the Hessian minister of economics, energy, transport and housing, Tarek
In February of this year, the
German federal and state governments agreed to support German airports hit by
the Covid-19 pandemic.
Fraport AG’s executive board
chairman, Dr Stefan Schulte, said: “We are still undergoing the greatest
crisis in modern aviation, resulting in significant losses. During the first
Covid-19 lockdown, we kept Frankfurt airport continuously open for repatriation
flights and vital cargo traffic, even though a temporary closure would have
made more sense economically at that time.
“This compensation that we will
receive from the German and Hesse govenments is a clear sign of support for
maintaining airport operational infrastructure during an unprecedented crisis.
The payment also strongly contributes further to stabilising Fraport AG’s
“This is also supported by the
noticeable increase in demand that we are currently experiencing in Frankfurt.
We are therefore optimistic about the development of our business in the coming
months – even though it will take some years before we regain pre-crisis
traffic levels once again.”