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ASUR threatens legal action over antitrust ruling; GAP shares gain ground

3-Feb-2011

Mexican airport operator GAP confirmed it is considering a legal challenge to a decision by the Mexican Federal Competition Commission barring it from bidding for a tender to build and operate an airport in the Caribbean resort strip known as Riviera Maya. ASUR’s largest airport, Cancun, is located 130km north of the proposed new airport. Rival, GAP, is bidding on the project in cooperation with Grupo Mexico, as is consortium Corporacion America and Tradeco Infraestructura.

Shares in ASUR were up 0.8% yesterday, while GAP shares gained 3.2%, the company’s largest single-day gain this year. OMA shares dipped 1.3%. Traffic at OMA’s airports in Mexico was up just 1.8% in Dec-2010 and 0.6% over the full-year.

Elsewhere, shares in Turkish airports company, TAV, closed down (-2.3%) for the second consecutive day. The company has extensive airport operations in Turkey, as well as operating/managing airports in Tunisia, Georgia and Macedonia. The stock is down 5.2% for the year-to-date.

Selected airport daily share price movements (% change): 02-Feb-2011

ABD


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