Dufry Group proposes merger of subsidiaries to simplify its corporate structure


Shares in airport retailer, DUFRY, led the way up yesterday (+5.3%) as the Group proposed to combine Dufry AG (DAG) with Dufry South America Ltd (DSA).

The rationale for the merger is to establish a simplified corporate structure of Dufry Group with a unified shareholder base, which can "participate in a balanced and diversified concession portfolio with an exposure of approximately 60% to emerging markets and a proven track record of delivering growth". Furthermore, the transaction will increase the Group’s strategic flexibility to pursue growth opportunities globally and in South America.

Mexico’s Grupo Aeroportuario del Centro Norte reports double-digit reduction in 2009

In Latin America, shares in Mexico’s Grupo Aeroportuario del Centro Norte (OMA) lost 1.6% yesterday. The airport operator reported an almost 10% decline in passenger numbers in Dec-2009 and a double-digit reduction for 2009:

  • Dec-2009:
    • Passenger numbers: 959,287, -9.9% year-on-year;
      • Domestic: 789,243, -10.5%;
      • International: 170,044, -7.4%.
  • 2009:
    • Passenger numbers: 11.5 million, -18.1%;
      • Domestic: 9.7 million, -17.2%;
      • International: 1.8 million, -22.4%.

Ferrovial down as BAA reports dull year

In Europe, Ferrovial’s shares were virtually flat (-0.2%) yesterday. BAA, owned by Ferrovial, reported a 1.5% and 10.7% year-on-year decline in passenger numbers in 2009 at London Heathrow and London Stansted airports, respectively. Cargo volume was also down at both airports for the full year, falling 8.7% and 8.0% year-on-year at London Heathrow and London Stansted airports, respectively.

The full traffic report for BAA in Dec-2009 and 12 months ended 31-Dec-2009, is available in Airport Business Daily. Other traffic reports in today’s Airport Business Daily edition include:

Selected airports daily share price movements (% change): 11-Jan-2010

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