FRAPORT bosses blame night ban and slow market for ‘plummeting’ cargo traffic.
German owned airport group Fraport shipped 111,000 fewer tonnes so far in 2012 compared to last year – a fall of 9.9 per cent.
The freight fall comes after a record 2011. The Frankfurt based firm says in its half yearly report it has been hampered by a ban on night flights and strikes at the west German hub.
Today’s group figures also take into account significant stakes at Lima (Peru) Anatalya (Turkey) Varna and Burgas (Bulgaria) airports.
In contrast group passenger figures were up but total revenues were hurt by currency exchanges, repaying of debts and declining asset values. Group revenues were down 17.4 per cent to US$108m.
Fraport’s forecast remains broadly unchanged but they warned their cargo business would continue to be hurt by ground handling wage demands and noise abatement measures. They expect to end the year with a similar result to 2011.