Frankfurt cargo volumes down again in February
14 / 03 / 2023
Cargo volumes at Frankfurt Airport continued to decline in February as the global economic downturn and war in Ukraine affected the airfreight market.
The German air cargo hub in February registered an 11% year-on-year decline in cargo volumes to 146,620 tonnes.
Volumes were also 9.1% behind pre-Covid 2019 levels and followed an 18% year-on-year drop in cargo demand in January.
Explaining the fall, airport operator Fraport said: “As in the previous months, the decline was attributable to the overall economic slowdown and the discontinued air traffic to/from Russia.”
The airport operator also today reported its fiscal results for 2022.
Revenues increased 49% year on year to €3.2bn, earnings before interest, tax, depreciation and amortisation increased 36% to €1bn and net profit increased 81.5% on 2021 to €166.6m.
Fraport chief executive Stefan Schulte said: “We’re moving in the right direction. In the past fiscal year, we’ve seen particularly strong demand for air travel from leisure passengers and vacationers. Our Group airports worldwide also benefited from this trend.”
Looking ahead, he added: “Our primary goal is to maintain stable operations and enhance our resilience in responding to irregular situations.
“This remains a challenging task in view of the structural factors we are facing, such as the geopolitically-related airspace restrictions and the current constraints on the German labor market.”
Frankfurt saw cargo volumes in 2022 decline by 13.3% year on year to 2m tonnes.
Frankfurt the latest European airport to register a cargo decline in 2022