The head of the listed airport operator Fraport, Stefan Schulte, expects that there will only be "moderate growth" in air traffic in 2023. Until then, it will be a long dry spell for the industry.

Fraport will therefore cut between 3.000 and 4.000 jobs. Here one wants to take socially acceptable measures that are to be negotiated with the employee representatives. In the opinion of the top management, the natural fluctuation is not enough to reduce the surplus of staff. It is also expected that in the years 2022 and 2023 the number of handled passengers will be 15 to 20 percent below the value in 2019. At the Frankfurt am Main location alone, Fraport employs around 16.000 people, most of whom are on short-time work.

From a financial point of view, the second quarter of 2020 was of course a disaster for Fraport AG. They wrote a loss of 182 million euros. In the same period of the previous year one could show a profit of 127 million euros. Sales collapsed by three quarters to 250 million euros.

Fraport AG obtained around 1,3 billion euros on the capital market and issued a bond in July 2020 that is worth 800 million euros. The cash holdings were put at three billion euros. You see yourself secured in terms of liquidity until at least the end of 2021.