GMR and GVK lead stronger day for airport shares

Stocks in Indian infrastructure and airport companies, GVK Infrastructure and GMR Infrastructure, led a better day for airport shares, gaining 2.9% and 3.6% respectively. GMR Group confirmed it will raise USD150 million for its airport unit, through three private equity firms, with the consortium to reportedly include Standard Charted Bank's private equity arm, Jacob Ballas & Old Lane.

Malaysia Airports Holdings Berhad Managing Director Tan Sri Bashir Ahmad stated the company is expecting to handle 60 million passengers in 2011, a 3.8% increase over 2010’s figure of 57.8 million, on the back on increased demand in tourism traffic. MAHB manages 39 airports in Malaysia. Of the total, MAHB expects Kuala Lumpur International Airport to record 34 million, or 59%, of all passengers. Shares in Malaysia Airports eased 0.2% yesterday.

Selected ABD daily share price movements (% change): 13-Apr-2011