Mixed day for airport stocks: Indian traffic soaring
Global airport stocks were mixed yesterday, with Vienna Airport falling 1.8% and Copenhagen Airport closing 1.4% lower. At the other end of the scale, Fraport and Venice Airport rose 1.8% and 2.7%, respectively.
- Global airport stocks experienced mixed performance, with Vienna Airport and Copenhagen Airport declining, while Fraport and Venice Airport saw gains.
- Airline traffic in India continues to grow at a rate above 20%, driven by economic expansion.
- Indian carriers have seen significant growth in domestic passenger numbers.
- GVK Power and Infrastructure Ltd, the operator of Mumbai Airport, saw a slight decline in its shares.
- Beijing Airport experienced a 1.4% increase in its share price, while Korea Airport saw a 0.4% rise.
- Data sourced from the Centre for Asia Pacific Aviation and Yahoo! Finance.
Indian airline traffic soaring
Airline traffic growth in India remained above 20% last month, spurred by economic expansion. The year-on-year comparison is also favourable (traffic fell around 5% in May-2009). See the CAPA Country profile on Indian Aviation.
Indian carriers domestic passenger numbers and passenger number growth: May-09 to May-2010
Source: Centre for Asia Pacific Aviation & Indian Minitsry of Civil Aviation
Shares in GVK Power and Infrastructure Ltd, which operates Mumbai Airport, eased 0.7% yesterday. Elsewhere, Beijing Airport rose 1.4% and Korea Airport rose 0.4%.
Selected airports daily share price movements (% change): 15-Jun-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance