Fraport says unclear if Greek airport deal will be completed

Fraport (FRAG.DE) said it was unclear if and when a deal to operate 14 Greek regional airports in tourist destinations would be completed, after reporting slightly better than expected first quarter results.

Fraport, the operator of Frankfurt airport, was last year named preferred bidder for a deal to operate 14 regional airports in Greece, in tourist locations such as Corfu.

But since the election of a leftist-led, anti-austerity government in Greece the deal has come into the spotlight, with Greece seeking to change the terms of the deal, a source told Reuters last week.

“It is currently not certain whether or when the transaction can be completed in view of the political and macroeconomic development in Greece,” the company said in its first-quarter report.

Fraport reported first-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) of 153 million euros (114 million pounds), against the average analyst forecast of 149 million in a Reuters poll.

It also confirmed its targets for the year of a 2-3 percent rise in passenger numbers at Frankfurt airport and for profits to rise to around 820-840 million euros.


Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.