Fraport July traffic increase in Varna and decrease in Burgas (NEUTRAL)

In July 2015, the number of passengers serviced at Varna airport increased by 2.1% YoY to 335.4k, while at the Burgas airport, the traffic decreased by 5.3% YoY to 693k passengers, Fraport announced in a statement. Cargo traffic at Varna airport increased by 7.5% YoY to 9 tonnes while at Burgas airport it rose by more than 100% YoY to 1 026 tonnes. Aircraft movements at the Varna airport were down 1.2% to 2 398, while at the Burgas airport they were down by 5.6% to 4 600. In Jan-July 2015, Fraport serviced 737.5k passengers at Varna airport, down by 1.6% YoY, and 1 239.4k passengers at Burgas airport, down 11.4% YoY. Fraport Twin Star Airport Management, a 60/40 joint venture of Fraport and Airport Services (subsidiary of Chimimport), has a 35-year concession expiring in 2041 to manage the airports in Burgas and Varna.