MAp, GAP, ASUR and OMA bounce back, Ferrovial sinks on Gatwick bids - SHARE WRAP
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.
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Selected airports daily share price movements (% change): 28-Apr-09