Malaysia Airports surges – Stronger financial base for 2010
Malaysia Airports Holding Berhad (MAHB) surged 9.5% yesterday, as Khazanah Nasional, 67.74% stakeholder in the airport's operator, stated its financial restructuring in 2009, has given MAHB a stronger financial base to undertake selected overseas ventures in India and Turkey, while also embarking on the proposed Low Cost Carrier Terminal (LCCT) project.
2009 also saw Khazanah's significant divestment in MAHB.
Earlier in the week, MAHB announced plans to proceed with its construction programme, awarding Gadang Engineering Sdn Bhd and Bukit Jerneh Quarry Sdn Bhd a contract worth USD87.1 million for work on the development of the LCCT and associated works at Kuala Lumpur International Airport. The contract, awarded on a 70:30 proportion to Gadang and Bukit Jerneh Quarry, is expected to be completed on 18-Dec-2010. Gadang stated the contract was expected to have a positive impact on the group's earnings and net asset base for the financial year ending 31-May-2010, and 2011.
Beijing's 2nd airport to commence during 2010
Beijing Airport gained 1.0% yesterday. The CAAC confirmed plans to commence construction of a second airport in Beijing during 2010. The airport, to be built in the Daxing District, is one of 25 airport construction and expansion projects that comprise the USD13.2 billion to be invested in China's airport infrastructure in 2010. The airport is earmarked for completion in 2015 to ease traffic pressure on the capital.
Fraport up, but German traffic declines for first time since 2002
In Europe, shares in German airport operator, Fraport, also rose 1.0%. The German Federal Statistical Office reports that for the first year since 2002, passenger numbers declined at German airports in 2009. Passenger numbers declined by 4.8% year on year to a total of 158 million. This decline, reportedly due to the negative economic climate, is deeper than after the terrorist attacks of September 11, when German Airport passenger traffic declined by 3.3%. International passenger numbers declined by 4.8% to a total of 135 million passengers, while domestic traffic declined by 4.9% to 24 million passengers. This report is featured in today's edition of Airport Business Daily.
Other financial and traffic reports in today's Airport Business Daily edition include:
- Barcelona El Prat Airport;
- Chongqing Airport;
- Kuwait International Airport;
- Macau Airport. Click here for more information on Airport Business Daily - your one-stop shop for airport news from around the world.
Selected airports daily share price movements (% change): 14-Jan-2010
