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Fraport Interim Release Q1 2021 May 11 , 2021 Overview by the Executive Board Impact of the Coronavirus Pandemic on the Fraport Group The Fraport Group's operating performance continued to be severely affected by the impact of the coronavirus pandemic in the first quarter of 2021. The traffic development at the Group airports has been significantly influenced by the infection rates in the respective regions . Compared to the full year 2020 , the first quarter of 2020 was only slightly affected by the effects of the initial travel and contact restrictions as a result of the coronavirus pandemic , which only began in March . As a result , with the exception of Xi'an in China , all Group airports recorded clear or significant declines in traffic compared to the same period last year . This led to a noticeable decline in revenue and , as a result , a significant drop in EBITDA and a massive decline in earnings in the Fraport Group . Cargo traffic in Frankfurt , on the other hand , continued its growth trend despite the ongoing shortage of belly capacity on passen ger aircraft ; not did it increase clearly compared to the same period in the previous year but even exceeded the volume from the first quarter of 2019 . The continuation of short - time work , reduced working hours , the initial measures from the collective restructuring agreement , the closure of landside and airside operating areas , and a strict cost management led to a reduction in overall operating expenses at the Frankfurt site by around 28 % in the first quarter of 2021 compared to the previous year . At the international Group companies , savings in operating expenses in the amount of 35 % were achieved in the reporting period . If not already successfully concluded , the negotiations started in 2020 in Frankfurt and at the international sites to compensate for the financial losses in connection with the coronavirus pandemic will be continued . The objective is to temporarily reduce or defer concession charges or to request additional government aid . Due to the ongoing coronavirus pandemic , discussions are already underway at individual sites regarding further compensation . In the first quarter of 2021 , significant progress was made in implementing the planned headcount reduction of around 4,000 positions in Frankfurt . As at March 31 , 2021 , the Fraport Group had around 3,000 fewer employees at its Frankfurt site compared to December 31 , 2019. Of these , around 340 employees had already left the company by the end of the first quarter of 2021 as part of the volunteer program under the strategic initiative " Zukunft FRA - Relaunch 50 " . After the reporting date for the first quarter of 2021 , an additional 850 employees of the Group companies in Frankfurt have left the company on April 1 , 2021. Along with the headcount reductions that have already taken place , mainly due to the expiration of temporary contracts and natural attrition as well as the implementation of additional personnel management measures , a significant contribution will be made to sustainably reducing the company's costs and preparing Fraport to face the changing market environment in the future . In an effort to further expand the Group's liquidity and create additional financial flexibility , further financing measures were com pleted in the first quarter of 2021. As part of these measures , Fraport AG issued a corporate bond with two tranches and a total volume of € 1.15 billion . In total , the Fraport Group raised around € 1.9 billion in financing in the first three months , taking into account short - term debt financing measures . Note on quarterly figures The quarterly figures concerning the asset , financial , and earnings position have been prepared in accordance with the Interna tional Financial Reporting Standards ( IFRS ) as applicable in the EU . The interim release does not include complete interim financial statements in accordance with International Accounting Standard ( IAS ) 34. The interim release was not reviewed or audited by an independent auditor .