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MarketScreener Homepage  >  Equities  >  Xetra  >  Fraport AG    FRA   DE0005773303

FRAPORT AG

(FRA)
  Report
Delayed Quote. Delayed Xetra - 01/22 11:39:13 am
43.7 EUR   -2.46%
01/20FRAPORT AG : Barclays keeps a Sell rating
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01/18THE LATEST : WHO: 'Not right' to vaccinate young before old
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01/14FRAPORT AG : JP Morgan reiterates its Neutral rating
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Germany agrees to give COVID-hit airports financial aid

11/06/2020 | 05:44am EST

BERLIN (Reuters) - Germany agreed on Friday to offer more aid to its airports to try to save jobs and preserve infrastructure as the COVID-19 pandemic continues to wreak havoc on the aviation industry.

Berlin will discuss with the states financial options for airports over the next two weeks, according to a joint statement from the government and representatives of the aviation industry seen by Reuters ahead of an aviation summit in Berlin.

"Additional joint efforts by the federal and state governments are required to secure the economic basis of the airports in the medium term," the document said.

Plummeting passenger numbers mean 25-30% of the roughly 180,000 jobs at Germany's airports are at risk, Transport Minister Andreas Scheuer earlier told Deutschlandfunk radio.

Berlin's long-overdue new airport opened last Saturday just as the aviation industry struggles with collapsing demand. It is not expected to make enough revenue to pay back its debts.

The German industry has demanded compensation of up to 1 billion euros (902.9 million pounds) to help cover the costs of keeping airports open even when there is barely any traffic due to lockdowns. There was no mention of this sum in the document.

The government is examining possibilities to bridge or cover the loss of revenue at state air traffic control association DFS to prevent a sharp increase in fees for airlines, the document said.

It also wants to expand long-haul routes, which are profitable for airlines but have been largely suspended, by exempting passengers on selected flight corridors from COVID-19 entry restrictions. To do this, it plans to establish pre-defined testing and quarantine regimes with health authorities.

The transport ministry also wants to prevent 'dumping prices' for airline tickets in the future, so that they can't cost less than taxes and fees.

Support for Europe's aviation sector has varied among states, with Germany and France the biggest contributors via bailouts for Lufthansa and Air France-KLM, according to a study in the Journal of Air Transport Management. Britain has so far resisted demands for specific financial support to the industry, although UK airports and airlines such as IAG's British Airways have benefited from government wage subsidies, emergency loans and financing facilities available across the economy.

(Additional reporting by Laurence Frost; Writing by Caroline Copley; Editing by Mark Potter)

By Klaus Lauer


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM -2.47% 4.7 Real-time Quote.-8.20%
DEUTSCHE LUFTHANSA AG -2.70% 9.964 Delayed Quote.-7.87%
FRAPORT AG -2.46% 43.7 Delayed Quote.-11.47%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. -3.41% 151.6 Delayed Quote.-5.13%
TUI AG -17.19% 3.965 Delayed Quote.25.36%
All news about FRAPORT AG
01/20FRAPORT AG : Barclays keeps a Sell rating
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01/18THE LATEST : WHO: 'Not right' to vaccinate young before old
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01/14FRAPORT AG : JP Morgan reiterates its Neutral rating
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2020FRAPORT : Issues RFP for a Sports/Multi-Functional Hall at Frankfurt Airport
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2020FRAPORT AG : Downgraded from Neutral to Sell by NorldLB
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2020FRAPORT AG : Morgan Stanley reiterates its Neutral rating
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2020FRAPORT AG : RBC reiterates its Sell rating
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2020FRAPORT TRAFFIC FIGURES – NOVE : Major Decline in Passenger Traffic Contin..
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Financials
Sales 2020 1 648 M 2 005 M 2 005 M
Net income 2020 -613 M -746 M -746 M
Net Debt 2020 5 626 M 6 847 M 6 847 M
P/E ratio 2020 -6,53x
Yield 2020 -
Capitalization 4 038 M 4 915 M 4 913 M
EV / Sales 2020 5,86x
EV / Sales 2021 4,48x
Nbr of Employees 21 532
Free-Float 39,8%
Chart FRAPORT AG
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Technical analysis trends FRAPORT AG
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 44,57 €
Last Close Price 43,70 €
Spread / Highest target 37,3%
Spread / Average Target 2,00%
Spread / Lowest Target -33,6%
EPS Revisions
Managers and Directors
NameTitle
Stefan Schulte Chairman-Management Board
Michael Boddenberg Chairman-Supervisory Board
Anke Giesen Executive Director-Operations
Matthias Zieschang Executive Director-Finance & Controlling
Lothar Klemm Member-Supervisory Board
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