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Fraport Traffic Figures March and First Quarter of 2019: Growth Trend Continues

April 12, 2019 by Forimmediaterelease

Fraport

Passenger traffic rises at Frankfurt Airport – Fraport’s Group
airports worldwide largely report positive performance
In the first three months of 2019, Frankfurt Airport (FRA) served
almost 14.8 million passengers – an increase of 2.5 percent
year-on-year. Aircraft movements rose by 3.0 percent to 116,581
takeoffs and landings. Accumulated maximum takeoff weights (MTOWs)
climbed by 2.9 percent to some 7.3 million metric tons. Only cargo
throughput (airfreight + airmail) declined by 2.3 percent to a total
of 527,151 metric tons, reflecting the worldwide economic slowdown.
In March 2019, Frankfurt Airport recorded year-on-year traffic growth
of 1.4 percent to about 5.6 million passengers. This increase was
achieved despite the fact that, in March last year, traffic was
additionally boosted by the earlier timing of the Easter school
holidays, falling in April this year. Aircraft movements climbed by
2.1 percent to 42,056 takeoffs and landings, while accumulated MTOWs
grew by 2.8 percent to about 2.6 million metric tons. Cargo
throughput remained almost level compared to March 2018, rising by
0.2 percent to 202,452 metric tons.
Across the Group, the airports in Fraport’s international portfolio
largely performed well in the first quarter of 2019, even though the
different timing of the Easter holidays had an impact on some
airports serving tourist destinations. Ljubljana Airport (LJU) in
Slovenia closed the January-to-March period with an increase of 4.0
percent to 342,636 passengers (March 2019: up 3.0 percent to 133,641
passengers). In Brazil, the two airports of Fortaleza (FOR) and Porto
Alegre (POA), combined, welcomed some 3.9 million passengers, posting
a gain of 11.9 percent (March 2019: up 8.3 percent to approximately
1.2 million passengers).
Fraport’s 14 Greek regional airports served some 1.9 million
passengers overall in the first quarter of the year – an increase of
8.2 percent (March 2019: up 1.1 percent to a total of 713,045
passengers). The busiest airports in Fraport’s Greek portfolio
included Thessaloniki (SKG) with around 1.2 million passengers (up
20.3 percent), Chania (CHQ) on the island of Crete with 153,225
passengers (down 0.4 percent), and Rhodes (RHO) with 151,493
passengers (down 18.1 percent).
Lima Airport (LIM) in Peru advanced by 3.7 percent to some 5.5
million passengers (March 2019: up 2.2 percent to about 1.8 million
passengers). Combined traffic at the two airports of Varna (VAR) and
Burgas (BOJ) on the Bulgarian Black Sea coast slipped by 5.8 percent
to 203,606 passengers (March 2019: down 9.9 percent to 74,102
passengers). Antalya Airport (AYT) in Turkey posted a 5.8 percent
gain to more than 2.7 million passengers (March 2019: down 0.1
percent to nearly 1.1 million passengers). St. Petersburg’s Pulkovo
Airport (LED) in Russia grew by 14.7 percent to about 3.6 million
passengers (March 2019: up 16.3 percent to approximately 1.3 million
passengers). Almost 11.3 million passengers passed through Xi’an
Airport (XIY) in China in the first three months of the year,
representing an increase of 8.0 percent (March 2019: up 3.7 percent
to nearly 3.8 million passengers).

Travel News | eTurboNews

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Cable Car to be introduced on Mount Kilimanjaro, amid protest

April 4, 2019 by Forimmediaterelease

A cable car is to be rolled out on Mount Kilimanjaro by a foreign company to improve access and boost tourism, amid strong protest from key local industry players.

Overlooking the sprawling Savannah plains of Tanzania and Kenya, the snow-capped mountain of Kilimanjaro rises majestically in splendid isolation to 5,895 metres above the sea level, making it the world’s highest freestanding peak.

Tanzania Deputy minister for Natural Resources and Tourism Constantine Kanyasu says the Cable Car facility was part of the government’s latest strategy to woo tourists with over 50 years of age.

Mr Kanyasu says that they hope that the cable car will allow more ageing tourists to experience the wide variety of nature and wildlife of Mount Kilimanjaro.

Instead of the familiar views of snow and ice, this cable car would offer a day trip safari with a bird’s eye view, contrary to the eight-day hiking trip.

The initial work for the cable car has just taken off with AVAN Kilimanjaro hiring the Crescent Environment and Management (CEM) Consult Limited to conduct Environmental and Social Impact Assessment (ESIA).

CEM officer Beatrice Mchome had engaged tour operators and other mountain stakeholders in Kilimanjaro and Arusha region where she made presentations on the proposed cable car and a lodge projects as part of the ESIA process.

Uproar

Key industry players, namely tour operators, guides and porters strongly protest the new facility, saying climbing the magnificent Kilimanjaro Mountain on foot is a lifetime experience that should never be compromised by cable cars.

Mount Kilimanjaro Porters Society (MKPS) opposes the cable car product outright, saying it will deny employment nearly 250,000 unskilled porters scaling up Mount Kilimanjaro for a wage each year.

“Much as the cable car service doesn’t require porters, majority of tourists will climb Mount Kilimanjaro on day trip basis using the new product to cut down costs and length of stay,” MKPS vice chairman Edson Mpemba explains.

Mpemba wonders that decision makers had overlooked interests of the huge number of unskilled labour force, which solely depends on the mountain to eke out a living.

“Think of the ripple effect on families of the 250,000 unskilled porters,” he stresses, cautioning:

“The cable car facility will initially look like a noble and innovative idea, but it will, in a long run, ruin the future of the majority of local people whose livelihood depends on the mountain.”

Seasoned tour guide Victor Manyanga echoes his fears saying the glittering cable car product will contradict the country’s conservation policy, as it will encourage mass tourism and become a major threat to the ecology of Mount Kilimanjaro.

“The cable car will be installed along the Machame route, which doubles as an irreplaceable birds migratory route…I am greatly worried over electric wires severely affecting the migration of birds,” Manyanga says.

Speaking on condition of anonymity, a tour operator accuses authorities of deliberately violating the law of the land by allowing a foreign investor to operate a cable car service on Mount Kilimanjaro.

“The law provides for exclusivity of Mount Kilimanjaro services to local operators, how come a foreign company is licensed to operate a cable car against it?” he queries.

Section 58(2) of the 2008 Tanzania Tourism Act No 11 clearly says mountain climbing or trekking registration will be issued to companies fully owned by Tanzanians.

Tour operators are also worried over the cable car harshly affecting revenues in a long run, owing to the service significantly reducing the length of stay from eight to one day.

“Assume all 50,000 tourists hiking Mount Kilimanjaro a year opt for the cable car, the national park will get $4.1 million fee, down from the current $55.3 million,” the tour operators say.

They fear the multiplier effect of the decline to the entrance, camping, rescue and crew fees will also be reflected on the national economy.

Chief Park Warden with Kilimanjaro National Park (KINAPA) Betty Looibok says the cable car is but only one of several additional tourism products embedded into Mount Kilimanjaro’s General Management Plan (GMP) in an effort to boost revenue.

“Cable car is for physically challenged persons and aged tourists who want to experience the thrill of climbing Mount Kilimanjaro up to Shira Plateau without wishing to summit,” she explains.

Looibok says the construction of the cable car will depend on the outcome of the environmental and social impact assessment study, which is currently underway.

Plans for the cable car service on the Kilimanjaro Mountain are not entirely new; as the discussions date back 1960s when they were not successful.

The feasibility plan in place will, however, bring the cable car one step closer to reality and make the mountain more accessible than it has been so far.

Some of the 50,000 tourists conquering Mount Kilimanjaro peaks a year though use challenging specialist routes, most of them opt for one of the six separate walking routes to the roof.

They generally take seven to eight days and are provided with accommodation in camps pitched around peaks for them to adjust to the altitude as they ascend.

Travel News | eTurboNews

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Fraport 2018 Fiscal Year: Revenue and Earnings Increase Significantly

March 19, 2019 by Forimmediaterelease

Fraport

Boards propose dividend increase to EUR2 – Outlook remains positive
In the 2018 fiscal year (ending December 31), Fraport AG continued on
its growth path, achieving new records in revenue and earnings.
Supported by strong passenger growth at its Frankfurt Airport home
base and its Group airports worldwide, revenue climbed by 18.5
percent to nearly EUR3.5 billion. After adjusting for revenue related
to capital expenditure for expansion measures at the international
Group companies (based on IFRIC 12), revenue rose 7.8 percent to over
EUR3.1 billion. About two-thirds of this increase can be attributed
to Fraport’s international portfolio – with the airports in Brazil
and Greece, in particular, making a significant contribution.
Fraport AG’s executive board chairman Dr. Stefan Schulte said: “We
are pleased to look back on another very successful year, especially
for our Group airports around the world. Here in Frankfurt, however,
2018 presented challenges due to the constraints in European airspace
and the strong traffic demand. For the medium and long term, we are
very well positioned both at Frankfurt Airport and in our
international business. Moreover, we are laying the foundations for
further long-term growth by implementing our expansion projects.”
Revenue and earnings targets achieved
The operating result (Group EBITDA) climbed markedly by 12.5 percent
to over EUR1.1 billion. The Group result (net profit) rose even
stronger, by 40 percent to EUR505.7 million. This includes earnings
gained from the sale of Fraport’s stake in Hanover Airport, which
contributed EUR75.9 million. However, even without the positive
effects from the Hanover transaction, Fraport already achieved its
revenue and earnings targets. Operating cash flow slightly dipped by
2.0 percent to EUR802.3 million. This was mainly due to changes in
the net current assets related to the reporting date. After adjusting
for these changes, operating cash flow rose by 18.8 percent to
EUR844.9 million. In line with expectations, free cash flow fell
sharply by 98.3 percent, because of more extensive capital
expenditure for Frankfurt Airport and Fraport’s international
business, while remaining in positive territory at EUR6.8 million.
Given the positive business development, the Executive Board and
Supervisory Board will propose to the Annual General Meeting that the
dividend be raised to EUR2.00 per share for the 2018 fiscal year
(2017 fiscal year: EUR1.50 per share).
Passenger traffic rises noticeably at FRA and internationally
Serving some 69.5 million passengers, Frankfurt Airport (FRA)
achieved a new passenger record in 2018 and growth of 7.8 percent
compared to 2017.
CEO Schulte commented: “We are pleased that the airlines have
significantly expanded their flight offerings at Frankfurt Airport
for the second year in a row, thus improving connectivity and
prosperity for businesses far beyond the Frankfurt Rhine-Main Region.
Until the first pier of the new Terminal 3 opens in late 2021, we
will focus on maintaining a high level of service quality at
Frankfurt Airport – while dealing with the constraints affecting the
entire aviation industry. In particular, enhancing the situation at
the security checkpoints will be a top priority for us.”
In response to strong passenger growth, Fraport hired over 3,000 new
staff members at Frankfurt Airport in 2018. Despite the constraints
experienced at some central process points in the terminals during
peak periods – particularly at the security checkpoints – global
satisfaction of passengers with Frankfurt Airport was at 86 percent
in 2018 – thus even posting a slight increase compared to the
previous year (2017: 85 percent). To provide additional space for
security checkpoints, Fraport is investing in an extension to
Terminal 1 for installing seven extra security lanes in the summer of
2019.
Fraport’s international portfolio also posted a significant gain in
passenger traffic during 2018. In Brazil, the two airports of Porto
Alegre and Fortaleza reported a 7.0 percent increase to 14.9 million
passengers in 2018 – Fraport Brasil’s first year of operating these
airports. At the 14 Greek airports, traffic rose by almost 9 percent
to 29.9 million passengers. Antalya Airport in Turkey grew by a
significant 22.5 percent to 32.3 million travelers, a new historic
passenger record.
Outlook: Growth expected to continue
Fraport is forecasting sustained growth at all of the Group airports
in fiscal year 2019. At Frankfurt Airport, passenger volume is
expected to rise between around two and roughly three percent.
Fraport expects consolidated revenue to increase slightly up to
around EUR3.2 billion (adjusted for IFRIC 12). Group EBITDA is
expected to reach a range of around EUR1,160 million and
approximately EUR1,195 million, despite the non-recurring revenue
from the sale of Fraport’s stake in Hanover Airport. The application
of the IFRS 16 accounting standard – which changes the accounting
rules for leases – will not only make a positive contribution to
Group EBITDA, but will also lead to much higher depreciation and
amortization in fiscal year 2019. As a result, Fraport expects Group
EBIT to be in the range of about EUR685 million and around EUR725
million. The company also expects to post a Group result (net profit)
of around EUR420 million and about EUR460 million. The dividend per
share is expected to remain stable at the higher level of EUR2 for
the 2019 fiscal year.
Fraport’s four business segments at a glance
Revenue in the Aviation segment increased by 5.5 percent to slightly
over EUR1 billion. This was due partly to higher revenue from airport
charges resulting from increased passenger traffic at Frankfurt
Airport. At EUR277.8 million, segment EBITDA increased by 11.3
percent year-on-year, while segment EBIT rose 6.5 percent to EUR138.2
million.
Revenue from the Retail & Real Estate segment dropped 2.8 percent
year-on-year to EUR507.2 million. A major reason for this drop was
significantly fewer proceeds from the sale of land (EUR1.9 million in
the 2018 fiscal year versus EUR22.9 million for the same period in
2017). In contrast, parking income (+ EUR8.3 million) and retail
revenue (+ EUR0.8 million) grew. Net retail revenue per passenger
fell 7.4 percent year-on-year to EUR3.12. Segment EBITDA increased by
3.4 percent to EUR390.2 million, while segment EBIT climbed 2.8
percent to EUR302.0 million.
Revenue in the Ground Handling segment rose by 5.0 percent
year-on-year to EUR673.8 million. The strong growth in passenger
traffic resulted, in particular, in stronger revenue from ground
services and higher infrastructure charges. On the other hand,
passenger growth also led to higher personnel expenses at the
FraGround and FraCareS subsidiaries. Accordingly, segment EBITDA
declined by EUR7.0 million to EUR44.4 million. Segment EBIT dropped
considerably by 94 percent, but at EUR0.7 million still remained in
positive territory.
At nearly EUR1.3 billion, the International Activities and Services
segment significantly advanced by 58 percent compared to the previous
year. After adjusting for the EUR359.5 million in revenue related to
IFRIC 12, the segment’s revenue rose by 20.1 percent to EUR931.4
million. This revenue growth received major contributions from the
Group subsidiaries in Fortaleza and Porto Alegre (+ EUR90.9 million),
as well as Fraport Greece (+ EUR53.2 million). Segment EBITDA
increased a noticeable 28.3 percent to EUR416.6 million, while
segment EBIT jumped 40.7 percent to EUR289.6 million.
You can find our 2018 Annual Report and the presentation from the
press conference on our financial statements (as of 10:30 a.m.) on
the Fraport AG website.

MEDIA CONTACT: Fraport AG, Torben Beckmann, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail: t.beckmann@fraport.de

Travel News | eTurboNews

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