Airport operator Fraport maintains 2026 targets despite Middle East tensions, worker strikes

Fraport Group, which operates Frankfurt Airport, said it will maintain its 2026 financial targets despite a challenging quarter following the effects of the war in the Middle East and Lufthansa worker strikes.

The operator of Germany’s largest airport said on Monday that its revenue rose 5.2% year-on-year in the first quarter, reaching $996.2 million, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) surged 10.4% in January-March to $229.1 million.

Frankfurt Airport handled some 12.7 million passengers in the first quarter of the year, marking a 2.3% rise compared with the previous year. While flight cancellations from Gulf countries due to the war led to a shortfall, the rise in direct flights to Asia offset the otherwise downward trend.

Fraport expects to serve somewhere between 188 and 195 million passengers worldwide this year and predicts maintaining its upward trend in adjusted operating profit, reaching around $1.7 billion. Frankfurt Airport, on the other hand, is projected to see a passenger count of around 65-66 million passengers.

Fraport CEO Stefan Schulte said the key to achieving the $1.7 billion target is securing an uninterrupted supply of jet fuel, but added that despite the possibility of supply disruptions from Gulf producers due to the war, which may lead to a fuel shortage by the end of May, the firm maintains its forecasts based on Berlin’s statements over supply security.

German economy and energy minister Katherine Reiche said in a recent statement that there is a sufficient kerosene supply in the German market, adding that over one million tons of jet fuel in state reserves could meet around six weeks’ demand.

Experts say that while only one-fifth of the kerosene used at Germany’s airports is sourced from the Middle East, potential fuel restrictions at some Asian airports could impact return flights.

*Writing by Emir Yildirim in Istanbul