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TAV jumps on Oman airport win, Fraport dives on 1Q profit fall/outlook, AdP lower – Share Wrap


Shares in Turkey's TAV rose 2.6% yesterday as the company revealed its joint venture with Athens-based Consolidated Contractors Co has been awarded a USD1.2 billion contract to expand Muscat Seeb International Airport in Oman. The company reportedly fended off France's Vinci, India's Larsen & Toubro and local contractor, Galfar Engineering for the contract, according to a Reuters report.

Meanwhile, shares in Fraport fell 5.8% as the airport operator yesterday revealed its 1Q2009 net profit fell 25% year-on-year, as revenues plunged 14% on a 7% reduction in passenger numbers. The company expects to remain profitable for the full year.

Shares in Fraport’s rival, AdP, eased 1.4% yesterday.

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Selected airports daily share price movements (% change): 12-May-09

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