19-May-2009 2:35 PM
Fraport, Beijing, TAV higher, Infratil lower on weak earnings – Share Wrap
Analysis
Turkey's TAV yesterday unveiled a 12% widening in first quarter net losses, attributed to the impact of the global economic crisis, the leap year effect (decreasing the February result by 3.5%) and the cost of financing the development of Enfidha Airport in Tunisia. The loss was better than market expectations and TAV's shares rose 2.1% yesterday. The company was reportedly recently awarded a USD1.2 billion contract to expand Oman's Muscat International Airport.
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