Frankfurt Airport expansion project receives EIB loan
The new terminal is expected to open in 2023, according to a press release on the EIB website, and could cost up to 3 billion euros to complete. The expansion will allow the airport to handle up to 14 million more passengers per year. The EIB has supported the airport's expansion projects since the 1990s.
The new loan will finance the first construction phase of a new Terminal 3.
“Air transport is an international business," said the EIB vice-president of German operations, Ambroise Fayolle. "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."
The EIB sees European air transit facilitating people's mobility and improving access to markets in a more interconnected world, Fayolle said.
“We are pleased to be able to extend our long-standing and fruitful working relationship with the European Investment Bank," Fraport CFO Matthias Zieschang said. "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.”