Lima international airport

Fraport, the manager of Frankfurt International Airport, has added Lima's international airport to the list of airports it owns.
Germany-based airport manager Fraport has announced it now owns Lima international airport 100 percent, from its earlier 42.75 share. However, a portion of the airport shares will subsequently be sold to other partners, but the airport manager said will retain at least 60 percent. Peru International Airport is the main gateway for Peru, serving about six million passengers in 2006. Fraport said Peru recorded double-digit growth in the first half of 2007 (approximately 25 percent), adding that when it entered the Peruvian market in 2001 the airport only had about four million passengers.The Lima Airport Partners (LAP) company has already invested about 150 million euros (approximately US$207 million) in modernizing and expanding the passenger terminal as well as improving airside infrastructure. The airport concession runs for 30 years with an option to extend. From the beginning, Fraport said it assumed the contractual role of airport manager and is responsible particularly for operations, security, planning and maintenance.Fraport and its two partners - US construction company Bechtel initially held 42.75 percent and Peru's Cosapi the remaining 14.5 percent - won the Lima international airport bid in the autumn of 2000. The consortium took over the operation of Lima Airport on February 14, 2001. Bechtel then acquired Cosapi's share in 2002 and bundled this with its own stake into Alterra Lima Holdings - in which the Singapore-based airport operator Changi also held shares. With the acquisition of Alterra Lima Holdings' 57.25 percent stake, Fraport has claimed it now owns all of the Lima Airport shares. Up to a maximum of 40 percent of the shares will be sold to Peruvian investors and the World Bank investment fund (IFC), whereby Fraport will retain at least 60 percent over the long termIn 2006, LAP had revenues of about 80 million euros (Approximately US$110 million) and the EBITDA (earnings before interest, tax, depreciation and amortization) reached almost 20 million euros (approximately US$28 million). Employment climbed to 420.Fraport also manages Frankfurt International Airport, which consistently ranks high in Europe and rest of the world for both passenger and cargo figures. Separately, the airport manager has taken steps to address the debate on climate change. Claiming that environmental protection is a central principle of its corporate philosophy, Fraport said the overriding aim is to make a contribution to preserving the fundamentals of life for future generations. “In order to fulfill our special responsibility as airport operators, at Fraport AG we have integrated environmental management in the strategic management of our company,” the Frankfurt-based airport operator said. It added: “Economic and ecological efficiency, as well as sustainability, are the key coordinates of our environmental policy. For us, avoiding pollution is more important than removing its consequences. In concrete terms, this means that for us the sparing use of the natural resources of land, water, air and energy has priority.”