European airports recover at different rates, share prices mixed


Shares in European airports and airport operators were mixed yesterday, with several listed companies releasing their Jun-2010 traffic reports. There are signs of a traffic recovery across airports in the region, with Frankfurt Airport pax up 7.0%, Copenhagen pax rising 9.3% and Rome Fiumicino pax jumping 9.2% for the month. Other airports including Zurich and London Heathrow are also improving, with pax gaining 3.1% and 0.1%, respectively, in Jun-2010.

  • European airports are experiencing a mixed performance in terms of share prices, with some showing signs of traffic recovery.
  • Frankfurt Airport saw a 7.0% increase in passenger numbers in June 2010, contributing to a 1.4% rise in the first half of the year.
  • Fraport, the operator of Frankfurt Airport, reported a significant year-on-year growth in cargo volumes, with a 28.8% increase in June 2010.
  • Zurich Airport also witnessed a surge in cargo volumes, rising by 28.7% in June 2010.
  • Passenger numbers at Zurich Airport increased by 3.1% in June 2010 and 3.0% in the first half of the year.
  • Shares in Ferrovial, the investor in UK's BAA, experienced a slight decline of 0.3%.

Shares in Ferrovial, investor in UK's BAA, slid 0.3% yesterday.

Fraport posts 11.8% passenger numbers growth for Jun-2010

Germany's Fraport handled 9.2 million passengers in Jun-2010 (+11.8% year-on-year), with 4.9 million passengers at Frankfurt (+7.0%). Passenger numbers for the six months ended Jun-2010 did not rise as sharply, affected by slower growth earlier in the first half. Overall passenger numbers increased 7.1% to 38.6 million and at Frankfurt by 1.4% to 24.5 million in 1H2010.

There were significant year-on-year gains in cargo volumes, with total cargo volume up 27.5% and Frankfurt up 28.8% in Jun-2010. For the six months ended Jun-2010 volumes surged 30.0% for Fraport and 30.5% for Frankfurt.

Shares in Frankfurt closed 1.3% higher yesterday, while the Frankfurt DAX added 0.2%.

Zurich reports 28.7% surge in cargo volumes in Jun-2010

Zurich Airport reported similar growth in cargo volume to Frankfurt in Jun-2010, rising 28.7% year-on-year. For 1H2010, volumes jumped 23.5%, indicating an accelerated recovery in Jun-2010. Passenger numbers at Zurich increased 3.1% in Jun-2010 and 3.0% in 1H2010. Shares in Zurich Airport dipped 0.2% yesterday.

See CAPA profile pages for the full traffic reports from Airport Business Daily today for these European airports:

Selected airports daily share price movements (% change): 12-Jul-2010

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