Frankfurt Airport operator Fraport has won a contract to manage Egypt's Cairo Airport for the next eight years, the company said on Monday.

Fraport, whose biggest business is running Frankfurt Airport, did not disclose a value for the deal. It said its fee was split into a fixed part and an additional part that would depend on Cairo airport's operating earnings.

Fraport said it was not required to invest in either the Egyptian airport company or Cairo's airport infrastructure under the terms of its contract.

In early December, a source close to the matter said that Fraport was among one of five short-listed firms in the running to manage Bulgaria's two main Black Sea airports in the port cities of Varna and Bourgas.

(Reuters)