SOFIA (Bulgaria), March 20 (SeeNews) – Fraport Twin Star, a 60/40 joint venture of Germany’s Fraport Group and Bulgarian company BM Star, posted a sharp increase in net profit to 21.3 million euro ($22.9 million) in 2016, from 13.3 million euro in 2015, Fraport Group said.
Fraport Twin Star’s revenue rose to 63.8 million euro in 2016, from 53.9 million euro a year earlier, Fraport Group said in its financial statement on Friday.
The airports in Varna and Burgas recorded double-digit growth in passenger numbers in 2016. Passenger traffic at Varna airport rose 20.8% to 1.69 million, while Burgas airport posted an increase of 22% to 2.9 million passengers.
In 2006, Fraport Twin Star Airport Management won a 35-year concession to manage the two airports on the Black Sea coast.
Elsewhere in Southeast Europe, the German company also operates the Ljubljana airport Slovenia.
($ = 0.9296 euro)