Fraport airport operator and Deutsche Lufthansa have signed an agreement on short-term cost savings, as well as create conditions for further growth of Lufthansa and Frankfurt Airport.

German transport company Fraport Frankfurt Airport Services Worldwide operates Frankfurt Airport.

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The current agreement will offer the scope for further discussions on a medium and long-term partnership between the two companies.

Deutsche Lufthansa executive board member Harry Hohmeister said: “This agreement is an important step in the right direction and a prelude to further discussions, with the aim of intensifying our partnership in the medium and long term.”

Both Lufthansa and Fraport intend to work in collaboration in the future to enhance efficiency by improving the utilisation of their existing infrastructure, in addition to lowering costs by improving the advance planning of passenger traffic at the airport.

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In addition, the two parties intend to coordinate on matters concerning customer relations to optimise services in the non-aviation sector.

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"We want to exploit potential areas for cost reduction and growth, and thus open up new sources of revenue, which will ensure and strengthen Frankfurt Airport’s future viability and long-term competitiveness."

Fraport executive board chairman Dr Stefan Schulte said: “Together, we want to exploit potential areas for cost reduction and growth, and thus open up new sources of revenue, which will ensure and strengthen Frankfurt Airport’s future viability and long-term competitiveness.

“To achieve this, we have identified a number of key areas to work on together.”

With an aim to promote continued growth at Frankfurt Airport next year, the airport operator does not intend to make a new application for airport charges for the year.

Next year, the existing charges regulation will continue to be valid at Frankfurt Airport.

Image: Lufthansa and Fraport sign agreement on cost savings and further growth. Photo: courtesy of Fraport.