Xiamen Airport recovers, ASUR and Fraport suffer from airline woes


Xiamen Airport shares regained ground after recent falls and Hochtief again rose as Goldman Sachs placed the construction company on its conviction buy list.

Mexico's challenged airline market continues to trouble airport owner ASUR and Fraport too suffered with key operator Lufthansa's announcement of a reduced profit outlook and the implied likelihood of capacity reductions.

ASUR's rival operators, OMA and GAP had each revealed a 15% plunge in passenger traffic in Jan-09 as several airlines stopped flying to their airports. A number of Mexican regional and low-cost carriers, hit by the economic slowdown, have closed down since mid-2008, resulting in abandoned routes or reduced flights to some destinations. But ASUR's airports, notably Cancun, have previously held up well.

Selected airports daily share price movements (% change): 12-Mar-09

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