Frankfurt Airport returns to profit in first half of 2021
Frankfurt Airport owner Fraport Group has swung back to profit in H1 2021, benefitting from cost control and compensation from the government. This resulted in a group net profit of $18.25m in the first six months of this year, compared with a loss of $274.22m in the prior year. However, Fraport stated that its business performance continued to be affected by Covid-19 headwinds from January 2021 to June 2021. Fraport’s group revenue of $960.96m in H1 2021 was 10.9% lower than the year-ago figure. The group still benefitted from the German and State of Hesse governments’ compensation to maintain operational readiness at FRA during the first Covid-19 lockdown last year. In addition, the Greek Parliament granted compensation to Fraport for operational losses incurred by its 14 Greek airports last year as a result of the pandemic.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-08-05/general/frankfurt-airport-returns-to-profit-in-first-half-of-2021
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Frankfurt Airport returns to profit in first half of 2021
Frankfurt Airport owner Fraport Group has swung back to profit in H1 2021, benefitting from cost control and compensation from the government. This resulted in a group net profit of $18.25m in the first six months of this year, compared with a loss of $274.22m in the prior year. However, Fraport stated that its business performance continued to be affected by Covid-19 headwinds from January 2021 to June 2021. Fraport’s group revenue of $960.96m in H1 2021 was 10.9% lower than the year-ago figure. The group still benefitted from the German and State of Hesse governments’ compensation to maintain operational readiness at FRA during the first Covid-19 lockdown last year. In addition, the Greek Parliament granted compensation to Fraport for operational losses incurred by its 14 Greek airports last year as a result of the pandemic.<br/>
