Frankfurt airport operator Fraport has seen a “revival” in business travel at Germany’s main hub as the recovery in passenger traffic continues.
Stefan Schulte, CEO of Fraport, told the group’s virtual annual general meeting on Tuesday (24 May) that he had an “optimistic view” of the next few months for Frankfurt and its other airports. The group operates 31 airports around the world, including Slovenia and Greece in Europe.
Schulte added that the ongoing war in Ukraine had so far only had “a small impact” on the group’s airports.
“The year 2021 has shown that we have bottomed out and are now climbing back up step-by-step in terms of traffic volumes,” said Schulte.
“At Frankfurt, we are getting ready for a busy summer. We expect to attain between 70 and 75 per cent of the pre-crisis traffic level. Now that restrictions on intercontinental destinations are gradually falling away, we are starting to observe a revival of business travel.”
He said that Fraport expected passenger traffic at its airports outside Germany to also “rebound dynamically” this year.
The recovery in passenger traffic is expected to help Fraport to make a net profit of between €50 million and €150 million this year. But Schulte added this would depend “on how Russia’s aggression ultimately impacts our figures”.