Fraport Group, the German owner and operator of Frankfurt Airport and others, generated $814.6 million in revenue in the first quarter. The result was 5.9 percent below the previous year, which got a boost from the Airrail Center finance lease. Group profit dropped 33 percent below the comparable period in 2007 to $37.8 million.

Higher revenue at Frankfurt Airport in the first quarter of 2008 was primarily achieved in the retail & properties segment. Operating expenses dropped 7.4 percent to $660.4 million.

But losses mounted in interest expenses. In the first quarter, the group lost $45.8 million, compared with a loss of $500,000 in the previous year due to interest cost compounded on Fraport's long-term liabilities for the concession payable to operate Antalya, and liabilities in connection with the basic agreement concluded with Celanese AG/Ticona GmbH.