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Airports of Thailand jump, Ferrovial up as Gatwick sale reaches conclusion

19-Oct-2009

Shares in airports worldwide were mixed in trading on Friday (16-Oct-2009). Airports of Thailand led the way, rising 7.3%.

The operator of Thailand’s main gateways has been vocal about its focus on infrastructure development and expansion lately, although its share price has been volatile on mixed traffic reports by national carrier, Thai Airways.

Elsewhere in the Asia Pacific region, MAp’s shares remained steady following its formal split from parent group, Macquarie Group, while Australian Infrastructure Fund gained 0.3%. Hainan Meilan International Airport went against the trend, closing down 4.7% on Friday.

BAA to commence appeal against airport sale

Shares in Ferrovial, owner of BAA, gained 0.5% as the debacle surrounding the sale of London Gatwick commences. In the latest development, BAA is reportedly likely to sell London Gatwick to Global Infrastructure Partners as early as this week, for a reported sum of GBP1.5 billion. The airport has submitted plans to the local council for major infrastructure development, including extending its North Terminal and the construction of a multi-storey car park facility.

Meanwhile, BAA stated it will commence its appeal against the Competition Commissions order for the airport owner to sell three of its UK airport, including Gatwick, on 19-Oct-2009.

Elsewhere in Europe, Zurich Airport’s shares gained 0.6%, while competitor, Vienna Airport fell 2.7%. Copenhagen Airport also ended the week on a low, closing down 1.5%.

Selected airports daily share price movements (% change): 16-Oct-2009


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