OMA, MAp lead airport shares worldwide higher as airline capacity stablises
Shares in airports worldwide were generally higher yesterday as capacity cuts by airlines worldwide start to stablise, according to OAG. The positive performance was led by Mexico's airport operator, OMA, which surged 5.9%, and Australia's Macquarie Airports, which gained 3.8%, as the Sydney ASX 200 index also rose 3.5%. Lower oil prices and a growing perception of a bottoming out are helping provide some investor comfort.
European airport shares were generally up, but lower than the previous trading day, despite European airlines reporting stabilising traffic. According to the Association of European Airlines (AEA), total demand (RPKs) rose ahead of capacity for the first time in ten weeks in early July. But AEA added, there is "no relief in sight in the airfreight market".
Copenhagen Airport and Vienna Airport went against the trend yesterday, slipping 1.4% and 0.6%, respectively.
In the Asia Pacific region, shares in Macquarie Airports and Australian Infrastructure Fund led the increase, gaining 3.8% and 3.2%, respectively.
Selected airports daily share price movements (% change): 14-Jul-2009
