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 reports mixed performance at investment airports in March 2011.
  • Passenger traffic declines by 16.1% at Athens airport.
  • Budapest, Dusseldorf, and Tirana experience growth in passenger numbers.
  • GMR Infrastructure shares drop 2.6% after being barred from charging user development fees.
  • GMR Infrastructure not interested in bidding for Navi Mumbai Airport.
  • GVK has the first right of refusal over the Navi Mumbai Airport project.

Hochtief passenger traffic highlights for Mar-2011:

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

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