China’s Xiamen Airport to launch LCCT: shares remain weak

China’s Xiamen International Airport Co CEO, Wang Xiaolin, recently announced plans to launch a low cost carrier terminal (LCCT) at Xiamen Gaoqi International Airport.

As part of the airport’s expansion programme, a new terminal dedicated to international operations will be constructed. In addition, the airport plans to construct a new runway and 27 additional aircraft stands, bringing the total number of gate positions up to 80.

The airport reported last week that passenger numbers rose 21.1% year-on-year during the 2010 Spring Festival travel period, on an 18% rise in aircraft movements. Xiamen reported a strong month in Jan-2010, when passenger numbers rose 22.7% year-on-year to 993,499, while cargo volumes were 24.8% higher at 14,711 tonnes, compared to Jan-2009. But the company's shares lost a further 0.8% yesterday (in broader market weakness), following a 1.9% dip on Friday last week.

Airport Business Daily contains these strategic news updates on Xiamen Airport, including construction and financial/traffic highlights. Sign up for other airport updates from China, including today:

  • Kunming Airport to close runway for maintenance works from 16-20-Mar-2010;
  • Hebei Airport Management Group reports traffic highlights for year-to-Feb-2010;
  • Yunnan Airport Group reports traffic highlights for year-to-Feb-2010;
  • Luoyang Airport's new terminal to commence operations in Jun-2010.

Selected airports daily share price movements (% change): 15-Mar-2010