Manufacturing Industry
Fraport wins management contract for Cairo airport
Airline Industry Information, Dec 20, 2004
AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
Fraport AG (FSE: FRA) Frankfurt Airport Services Worldwide has won the contract to manage Egypt's Cairo Airport.
Fraport reportedly received the maximum possible evaluation points in the bid for the contract as well as in the bid for managing five other Egyptian airports. However, the same company could not be awarded both the contract for the Cairo airport and the one for the five regional airports and Fraport had indicated a preference for Cairo.
The management contract for the airport will run for eight years and under the terms of the contract Fraport will reportedly not be required to invest in the Egyptian airport company nor the airport infrastructure at the Cairo airport.
Fraport's executive board chairman Dr. Wilhelm Bender has said that winning the contract against renowned competitors from France and Spain is a tremendous achievement for the company.
No financial details have been disclosed.
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