Fraport Hopes For More Turkish Passengers

July 8, 2005

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Frankfurt airport operator Fraport is confident of achieving a deal with Turkish airport authorities it wants to divert more passengers through a terminal in which it holds a stake, a German newspaper reported.

Fraport has been seeking damages or a redistribution of passenger traffic at Antalya Airport after it said the authorities had diverted a large portion of passenger traffic to a new, second terminal, in which Fraport has no shareholding.

The Frankfurter Allgemeine Zeitung, in its Saturday newspaper, cited the director of Fraport's Turkish subsidiary as saying airport authority DHMI had already agreed to Fraport's suggestion to share out the passengers more evenly.

Now DHMI had no grounds for delaying an equal distribution between Antalya Airport's two international terminals, Alexander Zinell told the paper.

Fraport has owned 50 percent of a joint venture operating Terminal 1 at Antalya since 1999 and counts it an important part of its foreign airport portfolio, which it is trying to expand.

The German company said in May the number of passengers it handled at Antalya fell 53 percent in April after rising 25 percent in the first three months of this year.

Fraport's chief financial officer has said Antalya will contribute EUR10 million to EUR15 million (USD$12 million - USD$18 million) less to Fraport's earnings this year than in 2004 because of the new terminal.

(Reuters)