Chinese airport shares up strongly, Auckland airport down despite traffic growth
Chinese airport shares reported strong growth on Monday, led by Beijing Airport (+5.9%) and Hainan Meilan Airport (5.7%). Morgan Stanley forecast a strong probability of continued growth in Hainan Meilan’s share price over the next 30 days, as the company acquires assets from parent, HNA Group, and considers issuing A shares.
Other Chinese airport shares were more subdued, although still positive, with Shenzhen (+0.4%), Shanghai (+0.8%), Guangzhou Baiyun (+0.9%) and Xiamen (+1.4%) all up.
Auckland Airport reported a 0.5% share drop on Monday, as it announced its Oct-2009 traffic highlights. The airport saw domestic passenger traffic up 3.3% in the month, while international traffic rose 1.9%.
Also reporting share price falls were Copenhagen Airport (-1.7%) and Aeroporti di Roma (-0.9%).
Selected airports daily share price movements (% change): 23-Nov-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance