Airports of Thailand focuses on real estate development; Shanghai Airport shares lose 4.5%
Airports of Thailand (-1.8%) plans to generate income from five smaller airports by focusing on real-estate development. Space in the airports will also be developed to accommodate more tenants and provide more convenience for passengers. The international airports include Chiang Rai, Chiang Mai, Hat Yai, Phuket and Don Mueang.
AoT's senior executive vice president Nitinai Sirismatthakarn plans to engage an appraisal company to assess AoT's property at each airport. The results will allow AoT to raise its rental rates.
China's Shenzhen Airport (-1.4%) stated construction work on its Terminal 3 project is progressing. Once completed, the airport will be the fourth largest in China.
Other Asia Pacific operators whose shares lost ground include Shanghai Airport (-4.5%), Japan Airport Terminal (-1.8%) and Infratil (-0.6%). Shares that gained included Korea Airport (+2.9%) and Australian Infra Fund (+1%).
Selected airports daily share price movements (% change): 28-Sep-2010
