Australian Infrastructure Fund higher, Queensland Airports Ltd traffic rising
Australian Infrastructure Fund's (AIX) shares rose 5.4% yesterday on investor confidence in the performance and outlook of the fund's airport portfolio.
The fund's stock has risen over 40% since early Jul-2009. Queensland Airports (QAL), in which AIX has a 49.1% stake, this week reported strong traffic growth at its investment airports (Gold Coast, Townsville and Mount Isa), led by Gold Coast Airport last month.
QAL Managing Director Dennis Chant said it had seen "another great month" at Gold Coast Airport, with international passengers increasing by 71% and domestic passenger by 5%. He added, "Townsville Airport, too, recorded another positive growth month with increase of 4.8% over this time last year". Mount Isa Airport movements are still down 5% on the same time last year.
MAp's shares rose 0.4% yesterday, while Malaysia Airports added 1%.
Selected airports daily share price movements (% change): 17-Dec-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance