Frankfurt Airport operator Fraport on Tuesday reported a 14% rise in third-quarter core profit, above market estimates, citing a rebound in passenger traffic during the European summer season.

The group said its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose to 478.1 million euros ($512.05 million) in the quarter from 420.3 million a year earlier. This beat analysts' average forecast of 449.9 million euros, according to LSEG data.

The results were boosted by recovering passenger numbers across Fraport's global network of airports, with traffic at its home-base in Frankfurt growing by almost a quarter in the first nine months of the year. Third-quarter traffic at the hub was at 86% of 2019 levels.

Demand was particularly high for traditional holiday destinations within Europe and long-haul flights, the company said, adding the number of passengers from China had also increased steadily.

The group reiterated its full-year outlook for an EBITDA in the upper half of its 1.04-1.20 billion euro range. ($1 = 0.9337 euros) (Reporting by Anna Mackenzie and Amir Orusov in Gdansk; editing by Milla Nissi)