Fraport News - July 6, 2009

FRA/rap> China's Xi'an Airport (XIY), in which Fraport AG has held a 24.5 percent share since 2008, is the world's fastest growing major airport.  During his recent visit to China, Fraport AG executive board chairman Prof. Dr. Wilhelm Bender told his Chinese partners that he was extremely satisfied with the development of the Xi'an joint venture.

With 7.1 million passengers in the first half of 2009, the airport of China's first imperial city – famous for its Terracotta Army – achieved 30 percent year-on-year growth.  "Xi'an clearly outperforms the strong growth rates of the Chinese market overall.  We are very pleased that our strategic investment in China is developing so excellently," Bender said.  He expects that a dividend will already be paid out for the first full business year of the joint venture:  "All half-year figures are clearly above target.  At a time when traffic in many regions of the world is noticeably declining,  this confirms Fraport's investment strategy of having an accurately-timed presence in the only air transport region of the world that is currently growing." 

Bender also said that he was satisfied with the work of the first Sino-foreign management team in China's air transport industry.  Because of open and constructive cooperation, Fraport and the China  West Airport Group – which holds the largest share in the joint venture – succeeded in turning different cultural origins into a positive advantage.  "It cannot be taken for granted that after only 10 months we have exceeded all expectations with our joint venture.  With Xi'an Airport, Fraport not only boasts another successful investment but also welcomes a growth champion in the Fraport Group," emphasized Bender.

During his China visit Bender also inked a cooperation agreement with Dalian Airport.  Fraport intends to provide its expertise for the planned capacity expansion of this airport in northeastern China.