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In line with expectations and previous company announcements, Celebi Ground Handling participated in the tender process for Frankfurt International Airport's ground handling operations. January 31, 2013 (yesterday) was the bid collection deadline.
Frankfurt International Airport, the main European hub both for passenger and cargo traffic, serves ~250K aircraft traffic movement (ATM) and handles more than 2.0mn tons of cargo annually (i.e. Celebi served 225K ATM and 550K tons of cargo on a consolidated basis in the last four quarters). Celebi Ground Handling is already active in Frankfurt through its subsidiary operating in the cargo and warehouse business. If they are successful in the upcoming tender, they will also initiate ground handling operations, which will both trigger higher revenues and also better margins due to economies of scale advantages. The positive outcome expectations for the Frankfurt ground handling tender and ongoing Mumbai International cargo tender could be two important catalysts for the share price in the coming period.
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