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Fraport gets cargo and Greece gets €1.2 billion

FRANKFURT AIRPORT: April 24, 2017. The Fraport 'Speed Gate' at CargoCity South, where pallets are unloaded at four automated gates, security checked within the gates and delivered to a waiting aircraft, has processed its 100,000 tonne from Lufthansa Cargo since the company began using the facility in the Autumn of 2014.

"With optional mobile add-ons, such as our 'Mobile Acceptance' and 'Customized Import' services, our customers have responded very well to both service offerings," said Lufthansa Cargo Board member responsible for Operations Sören Stark. "Eighty-one percent of the cargo units built by our customers at CargoCity South, known as BUPs, were accepted via the mobile service in the latest quarter already."

Fraport Lufthansa CargoWhen Fraport opened Speed Gate it was aimed at cargo handlers without airside handling facilities. Since then the company has expanded the service to companies like Lufthansa according to Fraport executive director Operations Anke Giesen. "We firmly expect Speed Gate to become a more important tool for other cargo companies and their customers as well," she declared.

Fraport reported a 5.8 percent rise in cargo for the first three months of 2017 with a throughput of 535,764 tonnes. In March volumes increased 9.8 percent to 205,443 tonnes – the highest monthly growth rate since 2011.

Earlier in April, Fraport began a 40-year concession to manage and develop 14 regional airports on the Greek mainland and some of its islands following the upfront payment of €1.234 billion to the state-owned Hellenic Republic Asset Development Fund.

Fraport Greece, 73.4 percent owned by Fraport AG and 26.6 percent by business developer Copelouzos Group, will also pay an annual fixed concession fee of €22.9 million to the Greek State, as well as a variable annual fee based on 28.5 percent of Fraport Greece's yearly EBITDA - earnings before interest, tax, depreciation and amortization. Actual ownership of the airports is retained by Greece.

The concession agreement also includes investment of €400 million by Fraport Greece to improve and expand the 14 airports' infrastructure over the next 48 months that includes five new passenger terminals.

The mainland airports are Aktion, Kavala and Thessaloniki, while the 11 island airports are Kerkyra/Corfu, Chania/Crete, Kefalonia, Kos, Mytilene/Lesvos, Mykonos, Rhodes, Samos, Santorini, Skiathos and Zakynthos.

Pictured left to right: Sören Stark, board member Operations Lufthansa Cargo and Anke Giesen, executive director Operations Fraport.

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