Fraport, Beijing Airport, Macquarie Airports stronger, Auckland Airport eases despite traffic gains
Shares in Fraport rose 1.5% in thin trade in Frankfurt yesterday, while Beijing Airport's shares gained 0.5% as Taiwan's Kuomintang (KMT) Chairman Wu Poh-hsiung arrived in Beijing at the start of an eight-day visit to the Mainland to review cross-Strait developments over the past year.
There are hopes improving relations will result in an expansion of cross-Strait flights, which will more than double this Summer to 270 per week.
Macquarie Airports' shares gained 2.8% yesterday and have risen a further 2% in morning trade today in Sydney. Across the Tasman, Auckland Airport's shares eased 1.2% yesterday despite the company reporting a 9.9% lift in international passenger arrivals last month to 253,155. Arrivals from Australia surged 23.1%, to 55,323, due to increasing seat capacity from Emirates, Pacific Blue and Jetstar and enhanced tourism promotion. Domestic throughput was weaker as Qantas cut its capacity.
Selected airports daily share price movements (% change): 25-May-09