- Fraport AG’s regular Annual General Meeting (AGM) for shareholders began today (June 1) at 10:00 a.m. CEST, as scheduled.
- Due to the Covid-19 pandemic, the AGM is being held again via a virtual-only format.
- A total of 39 sets of questions were submitted in advance by the shareholders.
Both Fraport AG’s supervisory board chairman, Michael Boddenberg (who also serves as Hesse finance minister), and executive board chairman, Dr. Stefan Schulte, will answer the questions during the AGM. Shareholders and their authorized representatives can exercise their rights via Fraport’s AGM online portal.
In his speech to the AGM, CEO Schulte takes an optimistic view of the next few months: “Thanks to the launch of vaccination programs, a gradual return to a certain level of normality is in sight. We are beginning to see the loosening of restrictions in everyday life. We can make plans again, also for the next vacation. That’s good news.”
Nevertheless, despite the current positive signals, Schulte believes it will still take several years until the aviation industry returns to pre-crisis levels again: “Overall, the aviation market will become even more competitive in the post-pandemic era. For us, this means that we have to prepare the company for this increasing competition – and that is exactly what we are doing. We have been working at all levels to reduce costs and increase efficiency.”
At Fraport AG’s ordinary Annual General Meeting (AGM), which was held today (June 1) in a virtual-only format again, shareholders approved all agenda items. Shareholders ratified the actions of the company’s executive and supervisory boards for fiscal year 2020 (ending Dec 31), by 99.81 percent and 98.25 percent respectively. Furthermore, shareholders elected Sonja Wärntges, CEO of DIC Assets AG, to Fraport’s supervisory board (with 99.61 percent of the votes). Ms. Wärntges has already been a Fraport supervisory board member since October 2020, following her appointment by court order. Shareholders also approved the creation of authorized (97.62 percent) and conditional capital (90.92 percent) to provide the company with an even broader range of financing options in the future – however, Fraport currently does not plan to use these options.
More than 1,160 participants followed this year’s live-stream AGM. 73.02 percent of Fraport AG’s capital stock were represented. Fraport supervisory board chairman Michael Boddenberg, who also serves as the State of Hesse finance minister, officially opened the AGM at 10:00 a.m. and concluded the proceedings at 13:19 p.m.