Compensation continues
Frankfurt airport operator Fraport is to receive a further €41.9m in compensation for the failed airport terminal project in Manila, the company has announced.

The payment is expected to be made within three months by the German government under a state guarantee for investments outside Germany. The figure could rise by a further €3.9m, Fraport added.

Fraport continues to pursue further claims for compensation relating to the Manila project not covered by the federal government guarantee. “This is only the first step,” Fraport’s Chief Executive Wilhelm Bender said in a statement. Fraport received an initial payment from the Philippines government of around €27m in 2006.