Annual rank84
Germany · Industrials
Fraport
Airport operator providing terminal, airside and management services at Frankfurt and international airports.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Run a hub, build capacity and export airport know-how
Fraport AG Frankfurt Airport Services Worldwide is the listed parent of the Fraport Group. It owns and manages Frankfurt Airport and holds FRA's operating permit, while group companies add ground handling, commercial property and other specialist services. Abroad, Fraport works through concession companies, controlled holdings, minority interests and consulting mandates, so its role is not identical at every airport. The examples below distinguish the airport operator from airlines, public authorities, tenants, local companies and project partners.
Frankfurt Airport
Coordinate aircraft, passengers and safety across one shared system
Fraport AG owns and manages Frankfurt Airport and holds its operating permit without a time limit. Its terminal and airside teams manage passenger flows, infrastructure and operating resources in close coordination with airlines and partners. The wholly owned Fraport Ground Services GmbH handles aircraft, baggage and freight and performs related technical services. Fraport runs the airport platform and many operating services, but airlines operate flights and public authorities retain their own statutory roles.
- Meet the owner and manager of FRA Fraport AG's role at Frankfurt and the airport's development since 1924
- Open the group structure and operating permit Listed parent, four reporting segments and the indefinite FRA permit
- Explore airside and terminal operations Passenger flows, terminal infrastructure and coordination with airlines and partners
- Separate the ground-services subsidiary Wholly owned company handling aircraft, baggage, freight and technical services
- ▶ VideoWatch: landing and taxiing Official English Fraport film following the first stage of an aircraft turnaround
- ▶ VideoWatch: load an aircraft Official English Fraport film on baggage and cargo preparation before departure
Business model
Earn from infrastructure, handling, commercial space and airport property
Fraport's four reporting segments turn one airport system into distinct businesses. Aviation manages terminal facilities and passenger processes; Ground Handling covers loading, baggage and passenger services; Retail & Real Estate develops and rents space, parking and advertising; International Activities & Services takes expertise abroad and contains central services. At the Frankfurt CargoHub, Fraport calls itself an enabler for a 250-company cargo community rather than the sole handler. Its allivate joint venture with DAKOSY develops the Cargo Community System and operational dashboard.
- See how airport charges work The regulated framework for airlines using FRA infrastructure and services
- Follow an aircraft turnaround Ramp, passenger, baggage, towing and aircraft-replenishment services
- Enter the Frankfurt CargoHub Cargo community, infrastructure, connectivity and Fraport's enabler role
- Inspect the cargo data layer Cargo Community System, allivate joint venture and real-time dashboard
- Explore retailing and advertising Concessions, marketplaces and airport media around passenger flows
- Open the airport property business Leasing, asset management and development inside a working hub
International portfolio
Use different concession vehicles for different jobs abroad
Fraport describes a footprint of 29 airports and airport-related companies on four continents, including 28 airports outside Frankfurt after the Delhi divestiture. The roles differ: wholly owned Brazilian subsidiaries manage and operate Fortaleza and Porto Alegre; controlled companies run concession networks in Greece and Bulgaria; the Antalya interest manages terminals; Fraport USA manages retail centres; and the Hong Kong minority interest operates a logistics centre. Stake percentages refer to local companies, not ownership of airport land.
- Compare company-by-company stakes and roles Controlled operators, concessions, minority interests and specialist companies
- Explore investments and consulting The 28-airport foreign footprint and services outside Frankfurt
- See how Fraport USA differs Airport retail-centre management rather than full airport operation
- Open the Brazilian operating companies Wholly owned local subsidiaries at Fortaleza and Porto Alegre
- ▶ VideoWatch: almost 100 years of airport management Official English film from Fraport's Frankfurt roots to its international portfolio
- ▶ VideoWatch: understand the Porto Alegre flood Fraport Brasil's CEO discusses the 2024 flood catastrophe and its impact, with English subtitles
Strategy and infrastructure
Add terminal capacity, digitalise the journey and narrow the climate claim
Fraport.2030 makes the passenger journey the overarching task and sets three priorities: growth and sustainability, efficiency and innovation, and becoming an employer of choice. Frankfurt's Terminal 3 began regular operations on 23 April 2026 with capacity for up to 19 million passengers and 64 stores and restaurants; all 57 airlines relocating from Terminal 2 had completed the move by 9 June. Fraport Ausbau Süd GmbH, a wholly owned Fraport subsidiary, managed the approximately EUR 4 billion construction project. Fraport's 2045 Net Zero target covers Scopes 1 and 2 at fully consolidated Group sites, not airline or passenger-travel emissions.
- Confirm the completed airline move All Terminal 2 airlines had transferred to Terminal 3 by 9 June
- Read Fraport.2030 Passenger journey, growth and sustainability, efficiency and innovation, and people
- Enter the Digital Factory Artificial intelligence, robotics and connected airport workflows
- Check the operational climate boundary Energy, direct emissions and the route to Net Zero at controlled sites
- Open Terminal 3's first day Construction company, investment, airlines, capacity and passenger facilities
- ▶ VideoWatch: how Terminal 3 fits together Official English-text animation of the terminal, piers and new people mover
- ▶ VideoWatch: Connecting the world with tomorrow Official English Fraport.2030 film on the Group's airports and priorities
Official profile sources: About Us · Operations · Our History
Current 2026 update
What is changing at Fraport in 2026?
Fraport has turned Terminal 3 into a daily airport operation, emptied Terminal 2 for a decade-scale rebuild and signed a new Greek concession that still awaits approval and takeover.
The change in one sentence
Frankfurt is rotating between infrastructure cycles while the concession portfolio follows local traffic patterns.
One terminal has moved from construction to operation, another from passenger use to planning, and the international network continues to expand through distinct concession vehicles.
Four lenses on 2026
The same four-quadrant format used in the Company profile.
01 · Terminal 3 live
A EUR4bn construction project becomes a passenger, airline and retail operation
Terminal 3 began regular operations on 23 April after Fraport invested about EUR4 billion through its wholly owned project subsidiary, Fraport Ausbau Süd. Its first phase can handle up to 19 million passengers a year through Piers G, H and J; a future Pier K could raise that to 25 million, but is not part of today's capacity. Automated baggage check-in, CT security scanners and 64 stores and restaurants make the terminal a passenger and commercial product as well as infrastructure. Fifty-seven airlines previously based in Terminal 2 moved in four waves, and the H1 report confirms all Terminal 2 airlines had completed the transfer by 9 June. This does not mean every airline at Frankfurt moved. The operating test now shifts from construction delivery to passenger flows, airline processes and commercial use.
- Current signalUp to 19m passengers/year · 57 Terminal 2 airlines moved · 64 stores/restaurants
- Why it mattersTerminal 3 converts a decade-scale build into the operating platform that makes Frankfurt's next infrastructure cycle possible.
- Terminal 3 opening and passenger offer Fraport · 2026-04-22
- H1 operations, portfolio and Kalamata Fraport · 2026-08-06
02 · Terminal 2 rebuild
The old terminal becomes the next long-duration infrastructure product
Terminal 2 stopped passenger operations on 9 June after more than 30 years of intensive use. Fraport says the building and technical systems need a thorough makeover, and Terminal 3's extra capacity makes a complete closure possible. The approximately EUR1.5 billion programme covers fire-alarm and smoke-removal systems, energy, HVAC and building automation, elevators and escalators, centralised passenger checkpoints, passenger-flow changes and flexible retail areas. More than three years are allocated to detailed construction planning; main construction is currently scheduled to begin in 2030, and reopening is planned for the mid-2030s with capacity above 10 million passengers a year. These are distinct future states, not work already completed or even main construction already under way. The opportunity is to rebuild a live-hub asset without routing Terminal 2 passengers around an active construction site.
- Current signalEUR1.5bn programme · planning now · construction scheduled from 2030
- Why it mattersFraport is using new spare capacity to renew an older terminal in sequence rather than modernising it around active passengers.
- Terminal 2 renovation sequence Fraport · 2026-06-09
- H1 operations, portfolio and Kalamata Fraport · 2026-08-06
03 · Portfolio geography
More passengers with fewer Frankfurt flights; Kalamata awaits takeover approvals
Frankfurt handled about 6.2 million passengers in July, 1.4% more than a year earlier, even though aircraft movements fell 3.2%. Fraport attributes that combination to higher capacity utilisation and larger aircraft. Across actively managed group airports, July passengers rose 2.2%, but the local stories differed: Ljubljana was up 14.9%; Fraport Greece, the Bulgarian airports and combined Fortaleza/Porto Alegre also grew, while Lima and Antalya declined. H1 Frankfurt traffic was still down 0.8%, and Fraport expects the full year only around 2025's level. The portfolio may also add a new operating mandate: Fraport signed Kalamata Airport's concession on 22 June for terminal, airside/landside infrastructure, retail and parking. Takeover is scheduled for autumn 2026 subject to approvals; Fraport does not yet operate or own Kalamata Airport.
- Current signalFrankfurt July: passengers +1.4%, flights -3.2% · Kalamata approval pending
- Why it mattersFraport's concession model spreads operations across local markets, but traffic outcomes and control begin at different evidence states.
- July traffic by airport Fraport · 2026-08-13
- H1 operations, portfolio and Kalamata Fraport · 2026-08-06
04 · What to watch
Three questions for the next disclosures
The next disclosures should show how each operating transition advances from its current state.
- Terminal 3 rampDo passenger processes, airline operations and retail activity settle into reliable daily use after the 57-airline transfer?
- Terminal 2 timetableDoes detailed planning preserve the scheduled 2030 construction start and mid-2030s reopening?
- Portfolio statesDo Kalamata's approvals clear for autumn takeover, and does Frankfurt's full-year traffic remain around 2025's level?
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 84 | +39% | +226% | +84% |