Fraport: H1 loss - slow recovery ahead
(CercleFinance.com) - The German airport operator Fraport published an H1 loss on Tuesday and warned that the recovery of its business would only take place gradually.
The share was down over 2% after lunch, underperforming the MDAX midcap index in Frankfurt (-0.6%).
The Frankfurt airport operator has been hit head on by the coronavirus crisis, posting a net loss of 231.4 million euros over the first six months of the year, compared with a net profit of 164.9 million euros a year ago.
Interim sales were almost halved, down 49% at 910.6 million euros, with passenger numbers down 64% over the period.
From April to June, i.e. Q2, the number of passengers transported even fell by over 84%, Fraport said.
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