MAp, GAP, ASUR and OMA bounce back, Ferrovial sinks on Gatwick bids - SHARE WRAP


Mexico's Bolsa Index rose 0.1% as airport stocks rebounded yesterday after sharp falls the previous day over swine flu concerns. Airport operators OMA, GAP and ASUR rose 6.9%, 3.4% and 0.5%, respectively, while Macquarie Airports (MAP), which has a strategic stake in ASUR, rose 2.3% yesterday.

Meanwhile, shares in BAA owner, Grupo Ferrovial, slumped 6.7%, as the airport operator received at least two bids for London Gatwick Airport by its second round deadline on 27-Apr-09, from Global Infrastructure Partners (GIP) and a consortium led by Manchester Airport Group. It is unknown whether a bid from a consortium led by Citi Infrastructure Investors was made.

But Gatwick is only expected to fetch between GBP1.3-1.5 billion - below its regulated asset base (RAB) value of GBP1.6 billion. Furthermore, Credit Suisse Group stated BAA could breach debt covenants if the outbreak of swine flu causes a global decline in air travel to accelerate. BAA stated this prospect was unlikely.

Vienna Airport's shares slumped 9.2% yesterday.

For daily updates on American aviation stock prices and a complete wrap of the day's breaking news, sign up now for a complimentary subscription to America Airline Daily.

Selected airports daily share price movements (% change): 28-Apr-09

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More