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(SeeNews) - Oct 11, 2011 - The Hesse administrative court today banned night flights at the Frankfurt Airport, thus withdrawing an earlier decision which allowed airport operator Fraport AG (ETR:FRA) to execute 17 movements during the night.
The court's decision will significantly affect the Cargo unit of Deutsche Lufthansa (ETR:LHA), which is strongly dependent on night flights.
Fraport now has time until the end of October to change its winter plan and is currently examining which flights could be delayed and which should be terminated, news agency DPA-AFX reported citing a company's spokesman.
The ban becomes effective with the entry into service of the new runway at the Frankfurt Airport, which will take place on October 21, news agency Reuters reported.
At 1708 CET today Fraport's share lost 1.68% to EUR 44.55, while Lufthansa's share dropped 2.29% to EUR 9.771 on the Xetra platform.
(EUR 1.0 = USD 1.360)
Oct 11, 2011 18:45 CEST