Macquarie Airports’ European portfolio struggles; Fraport, Autogrill rebound – SHARE WRAP

Macquarie Airports (MAp) has unveiled considerable weakness across its slimmed-down portfolio of European airports, although there are some glimmers in the gloom. EBITDA (before specific items) at Brussels, Copenhagen and Bristol airports were all down by 20-30% in the three months ended 31-Mar-2009, though the retailing performance at each of the airports has defied the traffic downturn.