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European airports recover at different rates, share prices mixed

13-Jul-2010

Shares in European airports and airport operators were mixed yesterday, with several listed companies releasing their Jun-2010 traffic reports. There are signs of a traffic recovery across airports in the region, with Frankfurt Airport pax up 7.0%, Copenhagen pax rising 9.3% and Rome Fiumicino pax jumping 9.2% for the month. Other airports including Zurich and London Heathrow are also improving, with pax gaining 3.1% and 0.1%, respectively, in Jun-2010.

Shares in Ferrovial, investor in UK’s BAA, slid 0.3% yesterday.

Fraport posts 11.8% passenger numbers growth for Jun-2010

Germany’s Fraport handled 9.2 million passengers in Jun-2010 (+11.8% year-on-year), with 4.9 million passengers at Frankfurt (+7.0%). Passenger numbers for the six months ended Jun-2010 did not rise as sharply, affected by slower growth earlier in the first half. Overall passenger numbers increased 7.1% to 38.6 million and at Frankfurt by 1.4% to 24.5 million in 1H2010.

There were significant year-on-year gains in cargo volumes, with total cargo volume up 27.5% and Frankfurt up 28.8% in Jun-2010. For the six months ended Jun-2010 volumes surged 30.0% for Fraport and 30.5% for Frankfurt.

Shares in Frankfurt closed 1.3% higher yesterday, while the Frankfurt DAX added 0.2%.

Zurich reports 28.7% surge in cargo volumes in Jun-2010

Zurich Airport reported similar growth in cargo volume to Frankfurt in Jun-2010, rising 28.7% year-on-year. For 1H2010, volumes jumped 23.5%, indicating an accelerated recovery in Jun-2010. Passenger numbers at Zurich increased 3.1% in Jun-2010 and 3.0% in 1H2010. Shares in Zurich Airport dipped 0.2% yesterday.

See CAPA profile pages for the full traffic reports from Airport Business Daily today for these European airports:

Selected airports daily share price movements (% change): 12-Jul-2010


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