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Infratil and Auckland Airport down on sale, Ferrovial eases as BAA traffic remains unimpressive

11-Nov-2009

Shares in New Zealand’s Infrail fell 4.4% while Auckland Airport’s shares fell 3.1% yesterday, its largest single-day decline since early Jul-2009. The fall comes after Infratil announced the sale of its 3.87% stake in the airport for NZD1.84 per share.

Airport shares worldwide were mixed in trading yesterday, with Beijing Airport and Airports of Thailand also closing lower, down 1.6% and 1.3%, respectively.

BAA outlook remains “difficult”

Shares in Ferrovial, parent of UK’s BAA, eased 0.3% following the release of BAA’s Oct-2009 traffic results, which were down overall, but showed improving traffic at Heathrow and Gatwick.

 

According to BAA CEO, Colin Matthews, “this year has been one of the most challenging on record for the aviation industry, and the outlook remains difficult.”

Meanwhile, shares in Italy’s Autogrill also eased 0.4% after reporting a 5.1% year-on-year decline in revenue in 3Q2009, led by travel retail & duty free (-9.1%) and flight (-9.8%) revenues. The travel retail company reported a 1.7% reduction in EBITDA to EUR222.7 million while net profit rose 0.2% to 78.2 million.

Selected airports daily share price movements (% change): 10-Nov-2009


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