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11-Jan-2010 2:08 PM

TAV Holding expects EBITDA growth of 20% in 2009, Auckland Airport snaps up Cairns/Mackay stake

Analysis

Shares in Turkey's largest airport operator, TAV Holding, soared 8.2% at the end of last week (08-Jan-2010) following a statement by CEO, Sani Sener, that the group expects a 1%-3% increase in revenues to up to EUR640 million in 2009.

TAV also expects EBITDA to grow by as much as 20% to up to EUR170 million, due to cost cutting measures. Passenger traffic at TAV airports, which rose 2% year-on-year in 2009, is expected to more than double to 100 million by 2020.

AdP "buy"

Also in Europe, shares in Aeroports de Paris rose 2.2% after Oddo Securities raised its recommendation on the French airport operator's stock from "add" to "buy".

Auckland down after Cairns/Mackay buy-in

In the Asia Pacific region, Auckland Airport's shares fell 2.4% in early trading today (11-Jan-2010) following the announcement it agreed to purchase Westpac Bank's 24.55% stake in North Queensland Airports for NZD166 million (USD122.7 million). Auckland's shares rose 1% on Friday.

Selected airports daily share price movements (% change): 08-Jan-2010

Source: Centre for Asia Pacific Aviation & Yahoo! Finance

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