Chinese airports continue poor performance, Aeroports de Paris falls following traffic release

Shares in airports worldwide were generally down yesterday with Chinese airport shares again leading the decline as Shanghai's market correction gathered pace.

Shares in Beijing Airport, which reported strong revenue growth last week, slumped 5.2%, followed by Xiamen Airport (-5.0%), Hainan Airport (-4.2%) and Shenzhen Airport (-4.2%).

Elsewhere in the region, Australian Infrastructure Fund’s shares fell 1.3% yesterday, while Macquarie Airports eased 0.6%. Australian airports, including Melbourne and Brisbane airports are set to benefit from V Australia’s recently announced second phase expansion to Phuket and Johannesburg.

In Europe, Aeroports de Paris’ shares fell 1.7% following the release of its Jul-2009 traffic results:

Positive performers in Europe included Hochtief (+1.7%) and Italian airport operators, Aeroporto di Venezia (+1.7%), Aeroporto di Toscana (+1.0%) and Aeroporto di Firenze (+0.9%).

Selected airports daily share price movements (% change): 17-Aug-09