CEO of Australian Infrastructure Fund, Jeff Pollock, has given a optimistic outlook for 2011, stated that despite the effects of rising fuel costs, cautious consumer spending and natural disasters, several major Australian airports will record rising passenger numbers this year.
Mr Pollock also confirmed that the company is looking to shed non-core, non-airport assets. Shares in AIX were down 0.5% in trading on Friday, but have recovered 0.8% in the morning trading session on the ASX.
Australian Infrastructure Fund has around 90% of its portfolio invested in airports, but the CEO stated the ultimate aim is divest non core assets such as ports in Geelong and Portland and roads in Sydney. AIX is also looking to sell its European airport interests, which it holds via a 40% stake in Germany's Hochtief Airport Capital. No formal sales process is under way.
- Passenger numbers: 6.8 million, +0.8%;
AdP passenger traffic and aircraft movements in 1Q2011 both up 3.9%.
Mexico's Grupo Aeroportuario del Centro Norte's (OMA) annual shareholders' meeting approved the payment of a MXN400 million (USD34 million) cash dividend and elected that José Luis Guerrero Álvarez be the new Chairman. OMA shares were 1.1% higher. Fellow Mexican airport operator GAP rose 0.8% on Friday, while ASUR shares eased 0.1%.
Selected airport and airport operator share price movements (% change): 15-Apr-2011
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.