J P M O R G A N Europe Equity Research 13 July 2026 Fraport FY26 traffic guidance lowered but financial outlook confirmed Our Take: Fraport this morning reported June traffic down 1.7% y/y in Frankfurt, and lowered the group's traffic guidance to look for 2026 volumes 'at about 2025 levels' (JPMe: +1% y/y), citing the loss of nearly 700,000 passengers to strikes at Lufthansa, a 35% decrease in traffic to the Middle East YTD, reduced airline capacities and passengers becoming more reluctant to book given con ...