Fraport: Frankfurt airport posts record traffic for 2019
(CercleFinance.com) - German airport operator Fraport said on Wednesday that Frankfurt airport's traffic rose by 1.
5% to over 70.5 million passengers in 2019, reaching a new all-time record.
While Fraport said it benefited from a positive trend in the first half of 2019 (up 3%), passenger volumes largely stagnated in the second half of the year (up 0.2%), due to a reduction of airline flight services for the winter schedule, it said.
The weaker growth in the second half of 2019 can be mainly attributed to domestic traffic (down 3.4%), while European traffic rose slightly (up 1.2%), Fraport noted.
More broadly, the aviation industry is entering a consolidation phase, the company pointed out.
"Broader economic and geopolitical uncertainties have worsened, while unilateral national measures - such as raising the local air traffic tax - are placing an additional burden on the German aviation industry in 2020," warned Fraport's executive board chairman, Stefan Schulte.
These comments prompted investors to lock in profits from recent gains, with the Fraport shares down 0.9% in early morning trading. They have risen by almost 14% over the past year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
5% to over 70.5 million passengers in 2019, reaching a new all-time record.
While Fraport said it benefited from a positive trend in the first half of 2019 (up 3%), passenger volumes largely stagnated in the second half of the year (up 0.2%), due to a reduction of airline flight services for the winter schedule, it said.
The weaker growth in the second half of 2019 can be mainly attributed to domestic traffic (down 3.4%), while European traffic rose slightly (up 1.2%), Fraport noted.
More broadly, the aviation industry is entering a consolidation phase, the company pointed out.
"Broader economic and geopolitical uncertainties have worsened, while unilateral national measures - such as raising the local air traffic tax - are placing an additional burden on the German aviation industry in 2020," warned Fraport's executive board chairman, Stefan Schulte.
These comments prompted investors to lock in profits from recent gains, with the Fraport shares down 0.9% in early morning trading. They have risen by almost 14% over the past year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.