Omicron slowing recovery only marginally
Fraport reported December traffic figures this morning, which showed a continued recovery, albeit somewhat muted due to the surge in Omicron cases.
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What's it all about ?
Fraport reported December traffic figures this morning, which showed a continued recovery, albeit somewhat muted due to the surge in Omicron cases. Unrelated, Ryanair announced the closure of its Frankfurt base effective March 2022. The impact on Fraport looks set to be limited as some slots are likely to be picked up by competitors and the fee hike by 4% will counterbalance loss of traffic. On unchanged estimates, we reiterate to BUY with PT EUR 77.00.
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