MAp up as it takes a step closer to independence, Fraport also up on “slight” recovery outlook
Under the proposed internalisation plan, MAp is seeking to regain management rights from Macquarie Group and become an independent entity, for a proposed cash payment of AUD345 million. According to the report, KPMG stated the internalisation is "reasonable" and "fair", and values the management rights at between AUD320.6 million and AUD400.6 million [full report].
Elsewhere in the Asia Pacific region, Hainan Meilan International Airport's shares gained 0.7% yesterday following the release of its Aug-2009 traffic results:
- Passenger numbers: 640,590, +18.3% year-on-year;
- Cargo volume: 9,232 tonnes, +14.1%;
- Aircraft movements: 5,007, +15.9%.
Fraport sees "slight" recovery in passenger traffic over the next two years
In Europe, shares in Fraport rose 2.5% as the operator of Frankfurt Airport expects a "slight" recovery in passenger traffic over the next two years, from the 6% decline it forecasts for this year.
Meanwhile, Switzerland's duty free retailer, Dufry's shares continue its upward trend, soaring 14.2% in trading yesterday.
Mexican traffic remains weak
In Mexico, shares in Grupo Aeroportuario del Sureste (ASUR) gained 4.0%. The airport operator last week reported its Aug-2009 traffic, which showed domestic traffic declines were improving at a faster pace than competitor, Grupo Aeroportuario del Centro Norte (OMA).
Grupo Aeroportuario del Sureste (ASUR) traffic highlights in Aug-2009:
- Passenger numbers: 1.3 million, -12.8% year-on-year;
- Domestic: 655,242, -5.6%;
- International: 664,445, -18.8%.
Grupo Aeroportuario del Centro Norte (OMA) traffic highlights in Aug-2009:
- Passenger numbers: 1.0 million, -12.9% year-on-year;
- Domestic: 896,000, -11%;
- International: 132,700, -24.1%.
Selected airports daily share price movements (% change): 07-Sep-2009
