|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||19.68 - 19.68|
|52 Week Range||16.30 - 43.37|
|Beta (5Y Monthly)||1.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.11 (5.66%)|
|Ex-Dividend Date||May 28, 2019|
|1y Target Est||N/A|
Unfortunately for some shareholders, the Fraport (ETR:FRA) share price has dived 50% in the last thirty days. Indeed...
Airlines will temporarily be allowed to take off and land from Frankfurt Airport during the night, the transport minister for the regional government of Hesse said, adding that it was essential Germany's largest airport continued to operate. Airports around Europe have been shut as passenger volumes collapse and governments introduce travel restrictions to slow the spread of the coronavirus, most recently in Germany's southwestern state of Baden-Wuerttemberg, where Stuttgart and Karlsruhe airports were closed. "Frankfurt Airport must and will stay open," Hesse's Transport Minister Tarek Al-Wazir said on Monday, since it was one of very few airports in Germany that was able to handle infected arrivals.
Fraport AG looks back on a positive 2019 fiscal year (ending December 31). Fraport achieved all financial targets for 2019, despite the increasingly difficult market environment towards the end of the year. Moreover, the coronavirus outbreak has hit the aviation industry massively in the last few weeks. Therefore, it is currently not possible to provide a reliable business outlook for 2020. Overall, Fraport's executive board expects the Group result to decline significantly for the current business year.
The airline industry is becoming a leading indicator of the global economic contraction now projected for the first quarter, and possibly for the full year, as the new coronavirus escapes containment efforts in China.German companies seem particularly aggressive in trying to cut expenses in line with declining revenue trends as passenger demand dries up. On Friday, Fraport AG, which operates the large European hub in Frankfurt, Germany, and has activities in 30 airports around the world, followed German flagship carrier Deutsche Lufthansa AG in announcing a series of cost containment measures.The airport operator said it is freezing all new hiring except for exceptional circumstances, and offering administrative and operational employees voluntary unpaid leave or temporary reduced working hours to align resources a massive slump in passenger and cargo traffic at Frankfurt Airport.Fraport has about 20,000 employees and the entire airport supports more than 80,000 jobs. The company said it is evaluating other steps to reduce costs and will issue guidance for the current fiscal year when it releases financial results on March 13. Lufthansa Group this week announced it will park 23 aircraft, reduce short- and long-haul operations, freeze new hiring and training, and encourage workers to take reduced work hours. In the past two weeks, the company's stock has dropped 23%.The coronavirus is hitting the German aviation sector just as it prepares for an April increase in Germany's aviation tax. British Airways is also implementing a hiring freeze and cutting flights. The coronavirus is now in 60 countries. On Friday, Italy, Iran and South Korea announced 3,500 new cases, more than 10 times the number of new cases in China and double the number of cases announced Thursday. Preliminary indications are that for every person infected the disease gets passed on to two more people, on average, according to health authorities.Travel demand is falling fast as people look to reduce their chances of exposure to the coronavirus, and airlines are reacting with reduced schedules. Some countries are banning travel to certain destinations and the U.S. government has raised its warning level for travel to Italy and Iran.Tokyo Disneyland is now closed. The Swiss government ordered all events with more than 1,000 people canceled, ending a popular ski marathon, next week's Geneva International Motor Show and a big watch convention. Amazon said it is even restricting non-essential domestic travel within the US.After previously shutting down operations in China, where the new coronavirus originated and where there are about 80,000 confirmed cases, airlines are reducing flights to other parts of Asia, including South Korea, Japan and Singapore. Fewer passenger aircraft in the air means fewer options for companies to ship cargo. Dedicated all-cargo carriers could benefit by the new market dynamic, but that assumes that the disease doesn't force manufacturers to halt production as part of quarantine efforts to control the outbreak. Earlier this month, the International Air Transport Association estimated airlines would generate almost $30 billion less revenue this year. That amount is certain to increase as the coronavirus reaches pandemic proportions.Meanwhile, investment bank JP Morgan forecast the global economy will shrink in the first quarter because of the crisis. And Goldman Sachs on Thursday said S&P 500 companies, on average, won't generate any earnings growth this year as the impact of the coronavirus spreads. Buckle up.Image Sourced from PixabaySee more from Benzinga * First Nations Group, Canadian Officials Reach Unspecified Deal On Pipeline * Fetch Robotics Democratizes Warehouse Automation * Volumes Jump For First Time in 2020 But Coronavirus Uncertainty Looms(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
With few exceptions, 2019 will not be remembered as a good year for air cargo at European airports. Several of the region's largest air cargo hubs have recently reported year-over-year volume declines, and most cited some combination of economic slowdown, U.S.-China trade tensions and local issues as reasons for the poor performance. Major European airlines also suffered cargo volume declines in 2019. Frankfurt Airport, Europe's largest cargo hub, saw volume decline 3.9% to 2.13 million metric tons for the year, according to Fraport AG, which operates the airport and 20 others in Europe, Asia and South America.
Frankfurt Airport (FRA) served more than 70.5 million passengers in 2019 – achieving a new all-time record by exceeding the 70-million mark for the first time in a calendar year. Compared to the previous year, this represents a passenger increase of 1.5 percent. Following a positive trend in the first half of 2019 (up 3.0 percent), passenger volumes largely stagnated in the second half of the year (up 0.2 percent). In the months of November and December 2019, passenger numbers declined for the first time since November 2016. The relatively weaker growth in full-year passenger numbers can be mainly attributed to domestic traffic (down 3.4 percent) and European traffic (up 1.2 percent). In contrast, intercontinental traffic to and from FRA increased by 3.4 percent in 2019.
FRA/gk-rap – In November 2019, Frankfurt Airport (FRA) welcomed almost 5.1 million passengers – representing a 3.4 percent decrease compared to the same month last year. The thinned-out winter flight schedule and the two-day strike by Lufthansa cabin staff had a negative impact on passenger numbers. Without the strike effect, FRA's passenger traffic would have declined only slightly by 1.1 percent year-on-year. Intercontinental traffic to and from Frankfurt continued to grow robustly by 2.1 percent. In contrast, European traffic fell markedly by 6.5 percent due to airline bankruptcies and other factors. Aircraft movements shrank by 5.8 percent to 38,790 takeoffs and landings. Accumulated maximum takeoff weights (MTOWs) also contracted by 4.0 percent to around 2.4 million metric tons. Reflecting the ongoing slowdown of the global economy, cargo throughput (comprising airfreight and airmail) dropped by 5.0 percent to 186,670 metric tons.
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Frankfurt Airport posts slight increase in passenger traffic - Fraport's Group airports worldwide report mixed results FRANKFURT, Germany , Nov. 13, 2019 /PRNewswire/ -- FRA/gk-rap – Some 6.4 million passengers ...
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FRANKFURT AM MAIN, Germany, Nov. 6, 2019 /PRNewswire/ -- Fraport AG continued its growth trend in the first nine months of the 2019 business year, achieving an increase in both revenue and earnings. This positive performance was driven by solid traffic growth at Frankfurt Airport (FRA) and the Fraport Group's airports worldwide. Fraport AG's executive board chairman, Dr. Stefan Schulte, said: "Our industry is being impacted by the weaker global economy and consolidation of the European aviation market.
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