With around 4.8 million passengers, 21.5 percent more travelers used the largest German airport in April than in the same month last year, according to the operator Fraport. The current monthly value was still 20.0 percent away from the traffic volume in April 2019.
However, due to the overall economic slowdown, the volume of cargo was 8.5 percent below the comparable month of 2022.
Fraport also recorded more travelers at its international airports: the number of passengers at the Slovenian airport Ljubljana increased by 37 percent, that of the 14 Greek regional airports by 17.9 percent, while the Turkish airport Antalya handled 38 percent more passengers.
Jefferies maintains “underperform” rating
The analysis firm Jefferies has left the rating for Fraport at “Underperform” with a price target of EUR 37. The recovery in traffic figures in April in Frankfurt was at the lower end of the targeted range, wrote analyst Graham Hunt in an initial reaction on Friday. He remains skeptical about cost inflation and capacity constraints.
The Fraport share initially lost via XETRA, but then turned slightly positive and was temporarily listed 0.11 percent higher at 46.46 euros.
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