The transformation of Frankfurt Airport (FRA) from Germany's main gateway into a leading European hub, the biggest employer at one location in the country and the core of a thriving airport city which has developed over the past than 10 years, can only been described as a remarkable feat.

By almost every economic indicator Frankfurt scores high marks: the airport welcomed 50.9 million passengers and processed 1.9 million tonnes of cargo in 2009,  making it the ninth busiest airport in the world and the eighth biggest airfreight processor.

Through its operating company, Fraport AG, FRA's 2,200 hectares have become the scene of one of the most ambitious airport real estate projects in Europe, including the Gateway Gardens business park and Mönchhof Logistics Park (both under development), an integrated 'cargo city' and the impressive 140,000sqm inter-modal centre - The Squaire (previously known as the airrail center).

Fraport AG has grown to become a major global airport group with significant stakes in airports including Jorge Chavez International Airport in Peru, Delhi's Indira Gandhi and Xi'an Xianyang Airport in China and combined with its cargo and ground handling operations, Fraport generated €1.97 billion last year.

Fraport's strategic goals and airport city vision rests on three pillars of economic growth:

1) Consolidation at Frankfurt Airport - focused on taking advantage of the gateway's strong position in the aviation and ground handling fields, tightening relations with key customers and optimising productivity and efficiency.

2) Growth and capacity expansion - including the expansion and modernisation of the airport's terminals and retail areas and developing real estate.

3) External growth - exporting Fraport's airport operations expertise to locations around the world. Acquiring and operating airports and passenger terminals and winning airport management and service contracts.

With the arrival of Dr Stefan Schulte as CEO and chairman of Fraport's executive board in September 2009 and to meet the challenges of the economic downturn, a new operational framework was introduced - Agenda 2015 - to manage capex projects, strengthen profitability and efficiencies, increase customer satisfaction, improve  sustainability and explore new growth potentials.

And despite the economic downturn, Fraport AG is moving ahead with a €7 billion of expansion and development programme, with €4 billion allocated for the Airport  Expansion Program (AEP) - a fourth runway (northwest), a third passenger terminal and ancillary projects, with the remaining €3 billion spent on reconstruction of the existing terminals. Total runway capacity will incrementally grow by more than 50%.

"Construction of the new Runway Northwest is on schedule and it will be inaugurated by the start of the 2011 winter timetable. Thus, the airlines - which have  increasingly been demanding more take-off and landing slots at Frankfurt - will finally be able to set a course for future growth," explains Shulte.