Press article fom 09.01.2002
Increasing of Equity Capital by 27 Million Euros
Frankfurt, 9 January 2002. Today the partners of the company running Frankfurt-Hahn Airport (Flughafen Frankfurt-Hahn GmbH), the Fraport AG and also the state of Rhineland-Palatinate took the decision to increase the equity capital of the Airport Association from 3.5 million to 30.5 million Euros. The extra funds are to be channelled into the continuing extension of the airport, including the expanding of the passenger terminal and the lengthening of the runway.
This decision means that the partners and associates fully acknowledge the success already achieved and they are now, by taking this step, creating a sound financial basis for future growth. “Our equity capital will increase almost ten-fold and that is a clear indication of the significance which the partners attribute to the development of Frankfurt-Hahn Airport.” This was how Andreas Helfer, Commercial Managing Director of Flughafen Frankfurt-Hahn GmbH, passed comment on today’s decision. He continued: “At the moment we are the most rapidly developing commercial airport in Germany. Our latest success in the field of promoting low costs has shown that Frankfurt-Hahn has secured a firm footing for itself in the Frankfurt airport system. With this increase in the share capital, the partners are clearly emphasising the significance of Frankfurt-Hahn when it comes to the expansion of the major Frankfurt Airport itself.”
It was only very recently that the airline company, Ryanair, announced its plans to set up a base for itself at the Frankfurt-Hahn Airport, which would commence operating in February 2002. From 14 February onwards there will be daily flights, in certain instances several flights per day, to ten destinations throughout Italy, England, Scotland, Ireland, Norway and France. In this way Frankfurt-Hahn has furthered its position as the German market leader as regards the budget-price market. For the year of 2002, the Airport Association reckons with an approximate number of 1.2 million passengers using the facilities; in 2001 the airport still only handled 450,774 passengers.
Share quotas of the partners are in no way affected by the increase in the amount of equity capital. The Fraport AG continues to hold 73.07 per cent of the shares while the state of Rhineland-Palatinate remains with 26.93 per cent.
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