Aeroports de Paris surges on resilient retail growth, Copenhagen Airport down on weak revenue

Aeroports de Paris’ shares surged 6.2% yesterday as the airport operator reported “satisfactory” performance in 1H2009 with revenue rising 5.9% year-on-year – driven by retail expansion, which saw rental revenue surge 24.3%. AdP remains confident in generating “mild” revenue growth in the full year of 2009.

Shares in Vienna Airport gained 3.4%, while rival, Zurich Airport, eased 0.2% as the latter reported an 18.4% reduction in cargo volume in Jul-2009. Vienna Airport reported a 5.2% decline in passenger numbers last month, while Zurich Airport’s passenger decline eased to -0.8%;

Vienna International Airport traffic highlights in Jul-2009:

  • Passenger numbers: 1.8 million, -5.2% year-on-year;
  • Cargo volume: 19,898, -8.6%;
  • Aircraft movements: 22,255, -6.8%.

Zurich Airport traffic highlights in Jul-2009:

  • Passenger numbers: 2.1 million, -0.8% year-on-year;
  • Aircraft movements: 23,584, -3.8%;
  • Cargo volume: 27,887, -18.4%.

Meanwhile, Copenhagen Airport’s shares fell 1.3% yesterday following the release of its 2Q2009 and 1H2009 financial results, which showed a 7.1% and 6.9% reduction in revenue, respectively. The airport continues to be affected by declining air travel demand, reporting a 13% slump in passenger numbers for the first half of 2009.

In the Asia Pacific region, airport shares were generally up, led by Airports of Thailand, which gained 2.0%, despite Thai Airways' poor June quarter earnings announcement.

Selected airports daily share price movements (% change): 13-Aug-09