| BERLIN, June 12
BERLIN, June 12 The strength of the euro is
putting some overseas travellers off shopping at Frankfurt
airport, Germany's busiest hub, the head of airport operator
Fraport said on Thursday.
Fraport's Retail & Real Estate unit accounted for 18 percent
of group sales and about 40 percent of earnings before interest,
taxes, depreciation and amortisation (EBITDA) last year.
"High spenders from China, Korea, Japan and Russia are
consuming less. We are seeing declines in this customer group in
Frankfurt," Chief Executive Stefan Schulte told journalists at
an event in Berlin, citing the strong euro as the main reason.
The euro has gained about 7 percent against the Japanese yen
over the past 12 months. It is up about 2.4 percent against the
U.S. dollar and up more than 9 percent against the Russian
Schulte added, however, that Fraport's Retail & Real Estate
division - which also includes its real estate management
activities - had not seen an overall decline in business so far.
Fraport has said net retail revenue per passenger, which
mainly comes from lease revenue on retail space, slipped 1.3
percent to 3.69 euros ($5.02) in the first quarter, but that it
was sticking to its medium-term goal of 4 euros.
($1 = 0.7345 Euros)
(Writing by Ludwig Burger; Editing by Mark Potter)