Strikes, Tourism Crisis: Nothing is Stopping FRAPORT from Growing

Full-year outlook confirmed

Eurowings Hannover Flights from Milan Bergamo Airport

Reflecting a positive trend, the Group’s operating result (or EBITDA) rose by 34.3 percent to €212.6 million during the first three months of 2024 (Q1/2023: €158.3 million). The Group result (or net profit) improved to €12.7 million. This figure was still negative at minus €32.6 million in the same period last year. 

In the first three months of 2024, Frankfurt passenger numbers went up 10.4 percent year-on-year to 12.5 million passengers. This represents around 85 percent of the pre-crisis level reached in 2019. Despite several strikes’ negative effects, leisure travel demand remained high in Q1/2024. Business travel volumes also increased in comparison with the same period of 2023. Strikes and weather-related flight cancellations affected around 600,000 passengers in the first quarter.

Fraport AG’s CEO, Dr. Stefan Schulte, said: “Frankfurt Airport was impacted by strikes on several days in the first three months of 2024. Some 600,000 passengers were affected by the strikes in addition to weather-related cancellations and despite these adverse effects, the new business year got off to a good start. This was, in particular, attributable to growth at our Group airports outside Germany, with many exceeding pre-crisis levels again. Per our guidance, we expect to continue this positive business trend for the full year.” 

Passenger numbers continue to recover in the first quarter

Among Fraport’s global gateways, positive standouts were Antalya Airport on the Turkish Riviera, the 14 Greek airports, and Lima Airport in Peru. Passenger numbers over the first three months were significantly above pre-crisis levels seen in 2019 at all three gateways. 

In view of the positive performance achieved in the first quarter of 2024, Fraport’s executive board is confirming its forecasts for the full 2024 fiscal year.

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