Granted aid was dispensed as a form of public service reimbursement, according to the Commission's report.
In a turn of events, the fiscal gap that swelled to €15.4 million in the initial half of the previous year diminished, skyrocketing to €53.1 million in the same timeframe this year. This significant surge was primarily fueled by a one-off impairment of over €160 million tied to Fraport's ownership stake in St. Petersburg Airport. Despite this hefty charge, the leadership remains bullish about 2022.
June saw a monumental milestone at Frankfurt Airport, hitting a pandemic-era high of around five million passengers. This new trajectory has prompted Fraport to reevaluate their 2022 passenger count prediction, now estimating anywhere between 45 to 50 million passengers for the year. The potential for airports in Greece, Lima, and Zurich also appears promising.
Tailwinds estimated to battle headwinds of between 50 and 55 euros are within reach, according to Fraport's revised outlook.
Back in 2022, when the world was still grappling with the aftermath of the pandemic, Fraport initially expected a passenger volume of 45–50 million for Frankfurt Airport[1]. This initial forecast likely stemmed from early optimism about the post-pandemic recovery. As global passenger traffic surged to 6.7 billion in 2022 (73% of 2019 levels)[3], with leisure travel leading the charge, Fraport may have revised its forecast to account for this surge in demand.
Airports worldwide prioritized reestablishing connectivity while addressing staffing and supply chain challenges, which could have played a role in revised predictions. By 2024, Frankfurt Airport's revenue soared to €4.4 billion[4], signaling a return to stability in the sector. Global passenger traffic hit 9.5 billion in 2024 (3.8% above 2019)[3], indicating the sector's full recovery. It's possible that the revised forecast of 45–50 million passengers for 2022 reflects Fraport's final estimation rather than an upward revision, as more specifics about the revision would require additional historical data.
- In 2022, Fraport initially projected that Frankfurt Airport would welcome 45–50 million passengers, based on early optimism about the post-pandemic recovery.
- However, with the significant surge in global passenger traffic in 2022, Fraport may have revised its forecast to account for this surge in demand, now estimating between 45 to 50 million passengers for the year.
- The public-transit sector, including airport operators like Fraport, faced challenges in reestablishing connectivity while addressing staffing and supply chain issues in 2022.
- Despite the one-off impairment charge of over €160 million related to Fraport's ownership stake in St. Petersburg Airport, the company remains optimistic about the future of the industry in 2022.
- The financial outlook for Fraport in 2022 is guided by tailwinds estimated to battle headwinds of between 50 and 55 euros.
