AIRPORT operator at Germany's busiest airfreight hub of Frankfurt Airport and also has interests in numerous other air gateways worldwide, Fraport, has reported all-time high profit revenue, earnings and profit for the third quarter of this year.
This record performance boosted an overall strong first nine months of this year. Indeed, Fraport reported financial results over the first three quarters of this year that exceeded the same period of pre-pandemic 2019, reports London's Air Cargo News.
However, cargo volumes (comprising both airfreight and air mail) passing through its primary hub of Frankfurt declined by 7.5 per cent year on year over the first nine months of 2023 compared to the same period of last year.
This was largely due to weak demand for airfreight as a result of "the constraints in the global economy?? the airport operator said.
Cargo traffic through Frankfurt in September, the last month for which figures are available, actually enjoyed a slight growth of 1.3 per cent compared to the same month of 2022. However, compared to pre-pandemic 2019, traffic was down by 6.4 per cent.
In fact, the approximately 163,700 tonnes handled in September 2023 were well below the average of almost 180,000 tonnes for a September month over many years in the past.
In 2019, Frankfurt handled 2.1 million tonnes of cargo across the entire year. Cargo volumes reached 2 million tonnes in 2022.
As a business, Fraport chief executive Stefan Schulte believes that Frankfurt is "overcoming the crisis faster than other major German airports?
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