# Fraport sees 2023 passenger traffic at 80-90% of pre-pandemic levels
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-03-14
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Fraport Expects 80-90% Increase in Passenger Traffic in 2023
Meta Description: Get the latest update from Fraport as they predict passenger traffic to rise in 2023, but still remain below levels seen before the pandemic.
URL: https://financedigest.com/fraport-sees-2023-passenger-traffic-at-80-90-of-pre-pandemic-levelshtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-03-14t072037z1lynxmpej2d076rtroptp4fraport-results-1736814321913-compressed.jpg)

(Reuters) – Frankfurt Airport operator Fraport on Tuesday said it expected passenger traffic to keep improving in 2023 but stay below pre-pandemic levels, following the lifting of COVID-related travel restrictions.

The group, which operates at 31 airports around the world and counted more than 48 million passengers in 2022, expects 2023 passenger traffic to come between 80% and 90% of the level seen in pre-crisis year 2019.

Passenger travel in Fraport’s airports nearly doubled last year driven by the relaxation of travel restrictions after months of pandemic-related lockdowns, the company said in January. This was still around 30% below the 2019 figure.

While [demand was still restrained at the start of the year](https://www.financedigest.com/heathrow-airport-says-return-to-pre-pandemic-demand-years-away.html "Heathrow Airport says return to pre-pandemic demand years away"), passenger numbers in Frankfurt saw rapid growth of up to 300 percent from April onwards,” Fraport’s chief executive Stefan Schulte said in a statement on Tuesday.

In mid-2022, traffic [surges with three-digit growth rates](https://www.financedigest.com/boes-bailey-speaks-about-surging-inflation-and-rate-hikes.html "BoE’s Bailey speaks about surging inflation and rate hikes"), combined with staff shortages, occasionally brought us to our limits when ramping up operations,” he added.

The operator of Germany’s largest airport expects 2023 earnings before interest, taxation, depreciation and amortization (EBITDA) of between 1.04 [billion and 1.2 billion euros](https://www.financedigest.com/telecoms-group-orange-signs-sustainability-linked-refinancing-of-6-billion-euros-syndicated-credit-facility.html "Telecoms group Orange signs sustainability-linked refinancing of 6 billion euros syndicated credit facility") ($1.11 billion and 1.29 billion). Analysts had forecast 2023 EBITDA of 1.17 [billion euros](https://www.financedigest.com/mercedes-benz-to-buy-back-up-to-4-billion-euros-in-shares-by-2025.html "Mercedes-Benz to buy back up to 4 billion euros in shares by 2025"), according to Refinitiv data.

The company’s EBITDA rose to 1.03 [billion euros](https://www.financedigest.com/unicredit-gets-ecbs-green-light-for-second-1-billion-euro-share-buyback.html "UniCredit gets ECB’s green light for second 1 billion euro share buyback") in 2022, from 757 million a year earlier. This was around 13% below the pre-pandemic 2019 figure of 1.18 [billion euros](https://www.financedigest.com/amazon-com-to-invest-over-1-billion-euros-in-european-electric-van-truck-fleet.html "Amazon.com to invest over 1 billion euros in European electric van, truck fleet").

Fraport, which last paid dividend for fiscal 2018, said it would not propose a dividend for 2022 either due to the continued economic impact from the [COVID-19 pandemic](https://www.financedigest.com/pandemic-restrictions-that-hampered-the-circulation-of-viruses-other-than-covid-19.html "Pandemic restrictions that hampered the circulation of viruses other than COVID-19").

Its [shares were up 0.4% in early Frankfurt](https://www.financedigest.com/u-s-mid-tier-lenders-shares-rise-in-frankfurt-after-svb-deal.html "U.S. mid-tier lenders shares rise in Frankfurt after SVB deal") trade.

($1 = 0.9338 euros)

(Reporting by Anna Mackenzie and Bartosz Dąbrowski in Gdansk; Editing by Milla Nissi)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---