BAA parent higher after May traffic report, AdP eases, while Fraport gains - Share wrap

BAA's traffic fell 7.3% last month - the 14th consecutive monthly decline - and the operator stated the outlook remains "challenging". Passenger traffic at Heathrow was "resilient", according to BAA, declining just 3.9% to 5.4 million, while volumes were down 19% at the LCC-dominated Stansted. Gatwick's passenger numbers declined 6.5%, reflecting the impact of EU-US open skies liberalisation and the summer schedule.