Fraport AG, the owner and operator of Frankfurt Airport (IATA: FRA), has announced its final decision to commence construction of the new Terminal 3 in 2015. The decision comes after a comprehensive and detailed analysis of an audit study commissioned by the Hesse state government to assess the airport’s future capacity requirements. During a meeting on April 14, Fraport AG’s supervisory board reconfirmed its decision in favour of the planned construction of FRA’s Terminal 3 in the southern part of the airport, after having thoroughly re-assessed all relevant traffic forecasts and expert studies regarding the new terminal.
Fraport says its decision is based on expert studies by two independent research institutes which forecast that Frankfurt’s passenger volumes at the FRA global aviation hub will rise to between 68 million and 73 million passengers by the year 2021. Thus, the airport’s current terminal capacity of 64 million passengers per year will be exceeded by 2021.
Fraport AG’s Executive Board Chairman, Dr Stefan Schulte, explained: “We have thoroughly assessed and scrutinised all possible alternatives before deciding in favour of Terminal 3. We are very well aware of our responsibility to our shareholders, our customers, passengers and employees, as well as to the people living in the region. Frankfurt Airport is Germany’s largest place of employment and serves as the ‘Gateway to the World’ for the state of Hesse and Germany as a whole. The new Terminal 3 will underscore this role and thus further strengthen our region. To accommodate the forecast traffic growth, it is now necessary to commence construction for the third terminal during the current year.”
Fraport will soon issue an EU-wide notice and invitation to tender for the first phase of the excavation works on the site of the future Terminal 3. Due to the time frame required for the EU tender process, the excavation works are scheduled to start towards the end of the year. Construction time for the terminal is scheduled to take place over a period of some seven years, so the new Terminal 3 is expected to become operational in 2022.