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.
- Xiamen International Airport plans to launch a low-cost carrier terminal (LCCT) as part of its expansion program.
- The airport will construct a new terminal dedicated to international operations, a new runway, and additional aircraft stands.
- During the 2010 Spring Festival travel period, passenger numbers at Xiamen Airport increased by 21.1% year-on-year.
- In January 2010, passenger numbers rose by 22.7% year-on-year, while cargo volumes increased by 24.8%.
- Xiamen Airport's shares experienced a decline following a dip in the market.
- Other updates from Chinese airports include runway maintenance at Kunming Airport and new terminal operations at Luoyang Airport in June 2010.
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