FRAPORT AG, owner of Frankfurt Airport, is considering acquisitions in eastern Europe as part of its strategy to make up for slowing traffic growth at home, Chief Executive Officer Wilhelm Bender said.

"We want to move into markets with over-proportional growth and over-proportional margins," Bender said in a Bloomberg Television interview on Friday in Frankfurt.

"We're also thinking of eastern Europe."

Fraport bought 24.5 percent of China's Xi'an airport last year and is a partner in running the main one serving New Delhi, part of its effort to make up for capacity constraints at Frankfurt Airport, Europe's third-busiest.

Bender reiterated a target of boosting passenger numbers at Frankfurt by 1 percent to 2 percent this year, slower than the 2.5 percent growth of 2007.

The company plans to "grow further in China," Bender said.

"We just have to be patient, but we're not under any pressure. I'm very optimistic" on expansion plans in China.

Fraport rose as much as 1.27 euros (US$2.00), or 2.9 percent, to 45.11 euros in German trading and was up 0.3 percent in Frankfurt.

The stock has fallen 18 percent this year, valuing the airport operator at 4.02 billion euros.

Passenger numbers at Frankfurt last year increased to 54.2 million travelers.

That compares with 68 million passengers at London's Heathrow airport, Europe's busiest, and 59.9 million at Paris Charles de Gaulle. Fraport's group traffic increased 5.5 percent to 75.6 million travelers, led by gains at Antalya, Turkey and Lima.