- Copenhagen Airports shares rise as Lufthansa suspends negotiations with SAS;
- Vienna Airports shares fall - investors could be unhappy if Lufthansa turns attention to Austrian.
Airports were not spared the global sell-off on equity markets yesterday, with European airports particularly hardest hit. The operator of Vienna Airport was hit by a wave of selling again, linked to concerns about the outlook for key customer, Austrian Airlines.
Lufthansa, which is a potential bidder for Austrian, yesterday pulled out of negotiations to acquire SAS. Copenhagen Airport, one of SAS's main bases, had a reasonable day on the market (rising 1.6%), indicating airport investors would prefer airlines to stand-alone. Being swallowed up by a rival would lead to a reduction in capacity, which can hurt airport revenues.
Selected airport's daily share price movements (% change): 11-Nov-08
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