Fraport Confirms Outlook As Freight Falls

November 10, 2011

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Fraport said passenger numbers continued to grow at Germany's largest airport, Frankfurt, in October, rising 2.5 percent, but freight dropped 9.3 percent, reflecting the slower global economic growth.

"Because of the overall downward trend in the cargo sector, Fraport expects a slight decline in cargo throughput at Frankfurt airport for the entire fiscal year 2011," it said as it published third-quarter results on Thursday.

Lufthansa Cargo, based at Frankfurt airport, had said in October the freight market was getting tougher.

Fraport confirmed its forecasts for passenger growth at the upper end of a 4-7 percent range for 2011 and a rise in earnings before interest, tax, depreciation and amortisation at the upper end of a 10-15 percent window.

For the third-quarter, Fraport reported revenue of EUR€665.4 million (USD$904 million) and earnings before interest, tax, depreciation and amortisation of EUR€287.9 million.

(Reuters)