Changi mulls acquisition of 5% stake in Gemina SpA
Shares in Gemina SpA rose 1.0% yesterday, with reports Changi Airports International is increasing its investment in the Italian airport operator. Changi stated its USD100 million purchase of a 5% stake in the company will allow it to play a key role in the expansion of Rome's airports, as traffic is expected to increase.
Gemina operates Rome's Fiumicino Leonardo da Vinci Airport and Ciampino GB Pastine Airport, and aviation related activities.
Fiumicino Airport expects passenger numbers to reach 55 million by 2020 and 90-100 million by 2044, bringing the airport in line with international airports including Madrid, London and Singapore. The airport, which currently has three runways, handled 35 million passengers in 2009 while Ciampino Airport handled 5 million passengers.
In other European airports and suppliers yesterday, Copenhagen led the way up (+5.3%), TAV Airports advanced (+3.4%), Aeroporto di Venezia jumped (+1.9%), Ferrovial climbed (+1.3%), Fraport remained flat, while Aéroports de Paris (AdP) dipped (-0.1%) and Zurich closed lower (-1.1%).
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Selected airports daily share price movements (% change): 03-May-2010
