Germany’s Hochtief reports March passenger traffic down 0.8%

Germany’s Hochtief has reported a mixed performance at its investment airports in Mar-2011. Passenger traffic plummeted 16% at Athens and eased 0.4% at Hamburg and 0.1% at Sydney, but improved at Dusseldorf, Budapest and Tirana. Hochtief shares were 0.8% higher on Friday.

Hochtief passenger traffic highlights for Mar-2011:

  • Passenger numbers: 7.4 million, -0.8%;
    • Athens: 978,000, -16.1%;
    • Budapest: 637,000, +8.9%;
    • Dusseldorf: 1.5 million, +4.1%;
    • Hamburg: 1.1 million, -0.4%;
    • Sydney: 3.0 million, -0.1%;
    • Tirana: 129,00,0, +23.9%;
  • Aircraft movements: 54,671, -5.0%;

Shares in GMR Infrastructure dropped 2.6%. Last week, the Indian Supreme Court barred airport consortia involving GMR and GVK from charging a user development fee for capital costs related to developing airports. Meanwhile, GMR Infrastructure his reportedly not interest in bidding for Navi Mumbai Airport. GVK, which operates Mumbai Chhatrapati Shivaji International Airport, has the first right of refusal over the project.

Selected airport and airport operators share price movements (% change): 29-Apr-2011