Fraport, the owner of Frankfurt Airport in Germany, will delay the commissioning of its third passenger terminal by three years due to 'sluggish' air traffic growth.
Construction of the new terminal is now expected to start in 2015 as Fraport will only need the extra space from around 2020.
German newspaper Bild has reported that the airport operator is delaying the opening of the terminal because passenger growth is set to remain unchanged during 2013 and 2014.
Fraport is expected to invest €1.2bn in the initial phase, compared to its previous estimated of €1bn, with an additional €500m planned to be spent on infrastructure connecting the terminal to existing buildings and highways, parking facilities and apron areas.
The new terminal was originally planned to be commissioned by 2016 or 2017, with the construction period starting following the completion of tenders for individual construction stages by the middle of 2013.
Frankfurt Airport reported a 2.2% drop in its passenger traffic during April 2013 to 4.7 million, while the year to date traffic reached 16.6 million, down 2.1% over the corresponding period in 2012.
Cargo and aircraft traffic at the airport declined 0.1% and 2.2% during the period to 174,047t and 39,253 respectively, compared to April 2012.
In October 2012, Frankfurt Airport commissioned the €700m Pier A-Plus complex, which is one of two terminals that are expected to raise the airport's capacity by six million passengers per year.
The new pier provides seven docking positions for long-haul aircraft, four for double-decker jets, such as A380s, and it is dedicated for Deutsche Lufthansa and its Star Alliance partners.
Image: Construction of the new Frankfurt terminal is now expected to start in 2015.