Frankfurt Airport secures EIB loan toward €3bn terminal expansion

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Above, left to right: EIB vice president Ambroise Fayolle and Dr Matthias Zieschang

The European Investment Bank (EIB) has lent Frankfurt Airport €400m (US$427m) toward the expansion of its Terminal 3.

The overall investment cost of the new terminal is €3bn (US$3.2bn), with the aim of opening for operation in 2023. It will enable Frankfurt Airport to handle up to 14 million additional passengers every year.

The funds will be used for the first construction phase of the new Terminal 3, with the expansion firming up Frankfurt Airport’s status as Germany’s largest air transport hub.

The EIB has supported Fraport, which operates Frankfurt Airport, with the gradual expansion of the site since the 1990s.

Ambroise Fayolle, EIB vice president for operations in Germany, said, “Air transport is an international business. Good flight connections are an important location factor, especially in an economy like Germany’s which is strongly geared toward exports. I therefore particularly welcome the continuation of our successful cooperation with Fraport and the conclusion of this finance contract.

“As the EU bank, we see a high-performance European air transport network as a guarantee for the mobility of people and access to markets in an increasingly interconnected global economy.”

Dr Matthias Zieschang, Fraport CFO, added, “We are pleased to be able to extend our long-standing and fruitful working relationship with the European Investment Bank. With Terminal 3, we will set new standards at Frankfurt Airport in terms of quality of stay, customer-oriented services and handling excellence.

“As a result, we will be able to offer our passengers and the export-focused German economy first-class services and state-of-the-art infrastructure, so that Frankfurt will remain the door to the world in the future.”

Elsewhere at Frankfurt Airport, Germany’s first transit hotel opened for business this month.

Located at Gate Z 25 at Terminal 1, the MY CLOUD hotel features 59 modern rooms ideal for resting. Its proximity to the departure gates lets transit passengers stay at the hotel without having to leave the security zone, and it is also available to book for just three hours.

Christian Balletshofer, head of Fraport’s real estate and properties department, said, “This hotel is more than simply another addition to our wide range of offerings.

“It is a genuine innovation that delivers exactly what many of our customers want. The hotel’s rooms are designed to let them relax and enjoy their time at the airport in privacy.”

Hering Service, an investor of the hotel, will run the accommodation.

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Kirstie joined the team in early 2017 and brings writing, communications and client experience with her. Now an assistant editor, she produces content for our magazines and websites. Away from the office, you will find her blogging on her lifestyle website or searching the internet for photos of sausage dogs.

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