Zurich Airport jumps on improving aircraft movements, Beijing and AdP rise – SHARE WRAP
Shares in the operator of Zurich Airport rose 3.6% yesterday as the company revealed passenger numbers fell 8.9% to 1.7 million in Mar-2009, after a 7.7% fall in Feb-2009. The March result was impacted by the early Easter last year.
Zurich's cargo volume fell 18.1% last month, after a similar fall in Feb-2009. Investors may have been cheered by aircraft movements, which recovered to 21,123 (down 4.5% year-on-year), following Feb-2009's 11.8% drop.
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Zurich Airport passenger numbers, cargo volume and aircraft movement growth: Apr-08 to Mar-09
Source: Centre for Asia Pacific Aviation & company report
Elsewhere, Beijing Airport kept rising, buoyed by improving airline outlooks, while Aeroports de Paris rose 2.3%.
Selected airports daily share price movements (% change): 15-Apr-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance