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November 21, 2010

Fraport Considers Airport Investments

German airport operator Fraport is considering investing in Athens International Airport in Greece and some British airports, as part of a strategy to expand its market portfolio. Fraport senior vice-president for global investments and management Alexander Zinell said international air

By cms admin

German airport operator Fraport is considering investing in Athens International Airport in Greece and some British airports, as part of a strategy to expand its market portfolio.

Fraport senior vice-president for global investments and management Alexander Zinell said international airports make up a quarter of Fraport’s core profit, and the company is looking to increase that to a third, hopefully in the next five years.

Zinell said Fraport, which is in the middle of a €7bn ($9.5bn) capital expenditure programme at its airport in Frankfurt, is looking for assets in emerging and mature markets, reports Reuters.

The Greek Government is considering the sale of 55% of its stake in Athens Airport to cut its debt and is in the process of selecting an advisor for its stake.

Zinell said that Fraport is also considering investing in Scottish airports because they have a good mix of traffic with a diverse airline base.

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