It had to establish Brazilian subsidiaries before the deal could be rubber stamped by the Brazilian government, and by its own admission has spent much of the last few months planning and creating the foundation for the new Fraport Brazil airport companies.
Dr Stefan Schulte, Fraport AG’s executive board chairman, underscored the importance of the company’s expansion to Brasil and the signing of the concession agreements.
He said: “We have been closely watching the Brazilian market for some years and are excited to be operating at not one, but two airports.
"We are convinced of the great potential offered by the strategic, ‘best-located’ gateways of Fortaleza and Porto Alegre.”
Aletta von Massenbach, Fraport AG’s senior executive vice president for Global Investments and Management, noted: “We are working closely with Infraero – the current operator of the two airports and other competent state institutions in advancing the transition process for handing over operations at both airports.
"The concession agreements outline vital mandatory infrastructure projects that will significantly enhance overall operations, service performance and capacity.
"This will benefit the airlines, passengers, airport business partners, as well as helping drive economic development in the respective airport regions served by Fortaleza and Porto Alegre airports.”
Under the terms of the concession agreements, Fraport Brasil is required to develop the infrastructure at Fortaleza and Porto Alegre airports via a so-called Mandatory Construction Programme that includes expansion of the existing terminals, extending the existing runways, refurbishing taxiways and apron areas, and re-designing the airport road system.
Furthermore, both airports will receive new automated baggage management and security screening systems, and new aircraft boarding bridges.
In addition, numerous refurbishment projects will be carried out at the existing passenger terminals of FOR and POA.
Free high-speed Wi-Fi will also be introduced in passenger areas to improve the customer experience.
Schulte also announced the appointment of Andrea Pal as the chief executive officer of Fraport Brasil.
Pal brings to Fraport Brasil wide-ranging experience in international airport management; strategic and financial development in different business environments; airport financing; as well as infrastructure development and management.
During her past seven years at Northern Capital Gateway (NCG) – the consortium involving Fraport that manages Russia's St Petesburg-Pulkovo Airport– Pal has held executive management responsibilities and served as deputy general manager and chief financial officer.
She commented: "I am honoured to serve as the CEO of Fraport Brasil. Moving from one BRIC country in the northern hemisphere to another in the southern hemisphere is an exciting new challenge.
"I look forward to leading the Fraport Brasil team in South America’s largest market. Our commitment is to create two modern, efficient and customer-oriented gateways.
"By leveraging Fraport’s extensive expertise and the energy of our future team that we are attracting to Fraport Brasil, we will successfully launch a new era of air transportation at Fortaleza and Porto Alegre.”