Latest news with #LimaAirport
Travel Daily News
02-06-2025
- Business
- Travel Daily News
Fraport subsidiary opens Terminal in Lima
Lima Airport opens new terminal, tripling capacity, enhancing technology, and boosting connectivity, positioning Jorge Chávez Airport as a major South American hub. Fraport subsidiary Lima Airport Partners (LAP) celebrate the official opening of the new terminal at Lima's Jorge Chávez International Airport (LIM) in the Peruvian capital. On the night of May 31 to June 1, airlines, government agencies, and partners will relocate from Lima's old terminal to the new one. The opening was preceded by a two-week soft launch period involving four airlines to ensure an efficient start of operations and operational stability. The new terminal is three times bigger than the previous one. By the end of 2025, it will be expanded further to cover 270,000 square meters, providing enough capacity to receive up to 40 million passengers annually. Thanks to its modular design, the terminal's capacity can be increased to accommodate future growth. The approximately USD 2 billion expansion program that began in 2019 involved building both the terminal itself and related infrastructure. Key elements of the project included a second runway, a new air traffic control tower, aircraft parking positions, energy supply facilities, transportation connections, and parking facilities for passengers and visitors. Fraport CEO Dr Stefan Schulte says: 'The opening of the terminal is a milestone – not just for Fraport, but also for Peru and South America. Our goal is to make Lima one of the continent's most important hubs, providing a boost to tourism, air cargo traffic and connectivity for all Peruvians. The opening of this flagship project clearly symbolizes our commitment to Peru. We've worked together with our Lima Airport subsidiary and our partners to build the new terminal and the first Airport City in South America, connecting air travel with cargo, logistics, retail, and hotels.' The new terminal will feature future-proofed technologies, including highly efficient CT scanners for aviation security, while at the same time reflecting Peru's history and culture. Works created in partnership with local Peruvian artists are located throughout the terminal, representing the country's three regions – the coast, the rainforest, and the mountains. In addition, restaurants across more than 8,000 square meters of floorspace will inspire travelers to savor Peru's outstanding, world-famous cuisine. This combination means the new Jorge Chávez International Airport is set to offer a unique passenger experience. Lima Airport Partners CEO José Salmon says: 'The new terminal is the heartbeat of Peru. This airport will create approximately 120,000 jobs, benefiting our neighboring communities. Furthermore, the airport will contribute to our country's economic growth, creating jobs for future generations, boosting business, and promoting the recovery of tourism.' LIM will also be the first airport in South America to use a digital apron management system. The system allows airport controllers to monitor and control taxiing traffic from the terminal with the aid of cameras. The implementation of this technology represents a significant milestone in Lima Airport's journey toward operational excellence. Fraport AG has been operating in Lima since 2001. The Fraport Group holds an 80.01 percent stake in LAP, the airport's operating company (the remaining 19.99 percent is held by International Finance Corporation). LAP has a concession to manage the airport in Lima until 2041, with an option for an extension.
Travel Daily News
19-05-2025
- Business
- Travel Daily News
Passenger numbers grow at Fraport airports worldwide in April
Fraport annpunced that in April 2025, a total of 5.3 million passengers travelled via Frankfurt Airport (FRA), representing an increase of 4.8 percent compared to the same month last year. FRA saw particularly strong demand for flights to warm-weather destinations in Italy, Spain, and Türkiye. Aircraft movements climbed by 4.3 percent to 39,168 takeoffs and landings. Maximum takeoff weights (or MTOWs) were around 2.4 million metric tons, an expansion of 3.2 percent year-on-year. The airports in Fraport's global network also recorded passenger growth in April 2025. Ljubljana Airport (LJU) in Slovenia registered a 12.7 percent traffic increase on April last year, with 125,567 travelers. In South America, Fraport's two Brazilian airports of Fortaleza (FOR) and Porto Alegre (POA) served a total of 1.0 million passengers, a rise of 7.2 percent. Similarly, Peru's Lima Airport (LIM) saw traffic grow by 8.4 percent to roughly 2.0 million passengers. In Greece, the 14 airports operated by the Fraport Group welcomed a total of 1.8 million passengers, up 4.9 percent year-on-year. Notably, traffic at the two Bulgarian coastal airports of Burgas (BOJ) and Varna (VAR) surged by 29.8 percent to 128,058 passengers overall. On the Turkish Riviera, Antalya Airport (AYT) achieved traffic growth of 6.6 percent, serving 2.6 million passengers in the month under review. The total number of passengers at all airports actively managed by the Fraport Group grew by 6.2 percent year-on-year to around 13.0 million in April 2025.
Yahoo
19-03-2025
- Business
- Yahoo
Fraport AG (FPRUF) (FY 2024) Earnings Call Highlights: Record EBITDA and Strategic Expansion ...
EBITDA: Achieved an all-time high of EUR1.3 billion. Net Result: More than EUR500 million, close to the record level of 2018. Passenger Traffic: Frankfurt at 87% recovery rate with a 3.7% increase; international portfolio fully recovered to 2019 levels. Group Net Debt: Approximately EUR8.4 billion with a leverage ratio of 6.4 times. Operating Cash Flow: EUR1.18 billion, a 37% increase from the previous year. Free Cash Flow: Negative at minus EUR675 million due to expansion CapEx. Retail Revenue: Expected increase of 50% by 2027 with Terminal 3 operations. Average Cost of Debt: Expected to rise to a maximum of 3.5% in 2025. Segment EBITDA - Aviation: Increased by more than 21% to EUR374 million. Segment EBITDA - Retail and Real Estate: Slight growth to EUR375 million. Segment EBITDA - International Activities: Strong growth driven by investments in Fraport Greece, Fraport USA, and Lima Airport. Dividend Expectation: No dividend payment expected for 2025 financial year. Warning! GuruFocus has detected 3 Warning Sign with FPRUF. Release Date: March 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Fraport AG (FPRUF) achieved an all-time high EBITDA of EUR1.3 billion and a group result of more than EUR500 million, close to the record level of 2018. The group airports outside of Frankfurt have fully recovered to 2019 levels on average, with significant growth in Greece and Peru. Fraport AG (FPRUF) expects a turning point in Frankfurt traffic momentum, driven by new capacities and routes from airlines like Condor and EasyJet. The company is on track with major expansion programs, including the new terminal at Lima Airport and the upcoming opening of a new terminal in Antalya. Fraport AG (FPRUF) is implementing AI initiatives to increase operational efficiency and improve customer satisfaction at Frankfurt Airport. Fraport AG (FPRUF) faces challenges from high location costs and continued low supply of aircraft, impacting traffic growth in Frankfurt. The German aviation tax and increased security costs have made Germany one of the most expensive countries to operate, affecting competitiveness. The company expects a flat to down group result for 2025 due to non-recurring gains from the previous year and ongoing financial pressures. Ground handling remains a loss-making segment, with challenges in renewing the Lufthansa contract and improving financial stability. Fraport AG (FPRUF) does not expect to pay a dividend for the 2025 financial year, focusing instead on reducing leverage. Q: Do you have retail contracts in Terminal 2 running out this year, and do you expect to prolong these contracts until T2 will close next year? A: (Matthias Zieschang, CFO) The retail contracts in Terminal 2 will be finalized at the end of the second quarter as airlines move to Terminal 3. We have solutions with concessionaires, and all contracts for Terminal 3 are awarded and preparing for takeover by April next year. Q: Can you give us some initial indication on CapEx and free cash flow in 2026? A: (Matthias Zieschang, CFO) For 2026, we expect a significant reduction in CapEx compared to 2025, primarily due to the completion of major projects like Lima and Terminal 3. We aim for a clearly positive free cash flow in 2026. Q: What is the outlook for traffic in 2026, and when do you expect it to return to 2019 levels? A: (Stefan Schulte, CEO) We are optimistic about traffic growth in 2026, especially if the German aviation tax is reduced and new aircraft deliveries occur. However, returning to 2019 levels will take at least three to four years. Q: Why has the pickup in Porto Alegre been slow, and is there more compensation expected for its closure? A: (Stefan Schulte, CEO) The slow recovery is due to airlines needing to restore capacities. We received compensation for the closure, but some infrastructure issues known before the flooding were not covered. The outlook for Porto Alegre is positive. Q: What are your plans for the ground-handling segment, given its continued losses? A: (Stefan Schulte, CEO) The main issue is the long-term contract with Lufthansa, which limits price increases. We aim to negotiate better terms and improve productivity. Exiting the business is not currently planned, as stability in ground operations is crucial. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
