Fraport AG has sold Frankfurt-Hahn, one of Germany's leading all-cargo airports, for the symbolic price of €1. The company, which also owns Frankfurt-Main airport, Europe's biggest cargo hub, sold its 65 per cent stake in Hahn to the German federal state of Rhineland-Palatinate. Fraport said the deal, effective 1 January, ends all its financial obligations to Hahn, which had operated at a loss for several years. Traffic at Hahn fell 11 per cent in 2008 from the previous year to just under … [Read more...] about Fraport sells Germany’s Hahn airport for €1
Airports
Fraport sells Germany's Hahn airport for €1
Fraport AG has sold Frankfurt-Hahn, one of Germany's leading all-cargo airports, for the symbolic price of €1. The company, which also owns Frankfurt-Main airport, Europe's biggest cargo hub, sold its 65 per cent stake in Hahn to the German federal state of Rhineland-Palatinate. Fraport said the deal, effective 1 January, ends all its financial obligations to Hahn, which had operated at a loss for several years. Traffic at Hahn fell 11 per cent in 2008 from the previous year to just under … [Read more...] about Fraport sells Germany's Hahn airport for €1
China air traffic growth slows to single digits
China's air travel growth fell into single digits, the first time in five years, as a slowing economy hit air travel demand, according to official data. Chinese carriers handled 4.03 million tonnes of cargo last year, up 0.3 per cent from a year earlier, and 191.91 million passengers last year, up 3.3 per cent from 2007, the Civil Aviation Administration of China said on its website. Passenger traffic in December rose 8.2 per cent to 15.67 million, but freight volume fell 15.2 per cent to … [Read more...] about China air traffic growth slows to single digits
IMF cuts China’s growth forecast
The IMF has cut its growth forecast for China's economy to 6.7 per cent this year from 8.5 per cent and called upon Beijing to focus on boosting domestic demand. "It implies a lot of changes - difficult changes, painful changes - in the Chinese economy," Dominique Strauss-Kahn, IMF managing director, said of the revised projection. China's economic growth slumped to 6.8 per cent in the fourth quarter of 2008 with exports posting a 2.8 per cent year-on-year decline in December. Full-year GDP … [Read more...] about IMF cuts China’s growth forecast
IMF cuts China's growth forecast
The IMF has cut its growth forecast for China's economy to 6.7 per cent this year from 8.5 per cent and called upon Beijing to focus on boosting domestic demand. "It implies a lot of changes - difficult changes, painful changes - in the Chinese economy," Dominique Strauss-Kahn, IMF managing director, said of the revised projection. China's economic growth slumped to 6.8 per cent in the fourth quarter of 2008 with exports posting a 2.8 per cent year-on-year decline in December. Full-year GDP … [Read more...] about IMF cuts China's growth forecast
Dubai airport records leap cargo and pax
Dubai International Airport has posted a 9.38 per cent increase in freight traffic year-on-year traffic in 2008, despite the worldwide economic slump and a slowdown in global travel demand. The airport handled 1,824,991 tonnes of cargo in 2008 compared with 1,668,505 tonnes of freight in 2007. The airport also saw passenger numbers rise 9 per cent with a throughput of 37.4 million passengers, compared with 34.3 million passengers a year earlier. However, the airport missed its target of 40 … [Read more...] about Dubai airport records leap cargo and pax