My Account Menu

CAPA Login

Register to trial CAPA Membership!

Fraport surge ahead, Aeroports de Paris up, GEMINA boosted by AdR acquisition - Share Wrap


Fraport's shares surged 4.3% on Tuesday as the German Dax Index stabilised after a big slump on Monday at 3.5%, despite the airport operator reporting continuing declines in its May-2009 traffic report.

Fraport's traffic highlights in May-2009 included:

  • Passenger numbers: 6.2 million, -6.2% year-on-year;
  • Cargo volume: 165,301 tonnes, -16.6%;
    • Frankfurt: 150,384 tonnes, -17.3%;
  • Aircraft movements: 57,329, -4.3%;
    • Frankfurt: 40,666, -4.4%.

Aeroports de Paris, Gemina (operator of Rome Airport), Hochtief, and Turkey's TAV Airports also surged as European stock markets recovered ground yesterday, although the underlying traffic outlook is not promising. See related article: European airlines' May traffic declines, but June looks like it will be just as bad.

Gemina announced on Monday that it would acquire Macquarie Airports’ 44.7% stake in Aeroporti di Roma, giving it approximately 96% ownership in the company, which operates Rome’s Fiumicino and Ciampino airports.

The USD1.7 billion acquisition sent Gemina’s share price up 4.2% yesterday, while MAp slid 3.9%. Shares in Gemina and MAp had been suspended since Thursday.

In Asia, Asia Pacific stock markets slipped yesterday, and was reflected in the share prices of airport operators in the region, with the exception of Shanghai Airports, which rose 2.3%. Australian Infrastructure Fund shares gave up Monday's gains, dropping back 5.6%.

In Mexico, Grupo Aeroportuario del Pacifico's (GAP) shares slipped 3.1% following the release of its dismal May-2009 traffic report.

For daily updates on American aviation stock prices and a complete wrap of the day's breaking news, sign up now for a complimentary subscription to America Airline Daily.

Selected airports daily share price movements (% change): 16-Jun-09

Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.