Chinese airport shares bounce back
Chinese airport operators and suppliers gained during trade yesterday, as global stock markets traded higher on a positive lead the previous day from Wall Street.
In China, Shanghai Airport led the way, surging 5.6%, Beijing jumped 2.7% and Hainan Meilan 2.6%, while Shenzhen, Xiamen and Guangzhou gained more than 1.0%.
HNA signs cooperation agreement on Beijing International Aviation City project
During trade yesterday, HNA Group and Beijing Municipality's Tongzhou District signed a cooperation agreement to construct the Beijing International Aviation City project, 4.5km from Beijing Capital International Airport, with an investment of CNY30 billion (USD4.4 billion). Major construction works are slated for completion in 2013 with all other supporting work scheduled for completion in 2015. Earlier this month, HNA Group and Beijing Municipal Government received capital increases of CNY450 million (USD65.9 million) from Beijing State-owned Enterprise, relaunching its Deer Air subsidiary as Capital Airlines.
Shenzhen Airport offers subsidies for cargo at remote Dongguan Terminal
Meanwhile, Shenzhen Airport announced plans to offer financial subsidies of up to CNY800 per tonne for cargo traffic that goes through its remote air cargo terminal in Dongguan, effective this year to 2012. Details are as follows:
- International cargo throughput:
- 2010: CNY800/tonne;
- 2011: CNY600/tonne;
- 2012: CNY400/tonne;
- Domestic cargo throughput:
- 2010: CNY500/tonne;
- 2011: CNY375/tonne;
- 2012: CNY250/tonne.
Shenzhen Airport's Dongguan Terminal opened on 20-Jan-2010.
CAAC approves Tianjin Airport's second runway
Elsewhere, Tianjin Airport's second runway design received CAAC approval. The runway project includes construction of a control tower within the new air traffic control building, a 5,000 sqm supporting space, a new 16-channel VHF communications system, a new 64 automatic switching system, a second radar system and weather radar.
Airport Business Daily contains the latest strategic news updates on Chinese and global listed and non-listed airport operators and suppliers, including construction, traffic and financial reports. Subscribe today!
Selected airports daily share price movements (% change): 26-May-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance