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Paris passenger traffic underperforms Heathrow in bleak March – SHARE WRAP

Analysis

Aeroports de Paris shares rose 2.2% yesterday as the airport operator released traffic data for March showing a 9.8% year-on-year reduction in passenger numbers to 6.5 million. Charles de Gaulle’s (CGD) passenger numbers fell 9.1% to 4.5 million – giving it a more severe contraction last month than main rivals London Heathrow (-7.5%), but slightly better than Frankfurt (-9.2%).

Selected European Airports’ passenger numbers growth: Jan-08 to Mar-09

Fraport’s shares rose 1.4% yesterday, while Ferrovial (parent of Heathrow operator, BAA) surged 7.3%.

Elsewhere, Beijing Airport’s shares continued to rise, as the airport reported an 18.7% rise in passenger numbers last month, including a 27.4% surge in domestic traffic off last year’s depressed pre-Olympics base.

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Selected airports daily share price movements (% change): 16-Apr-09

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