Airports Council International (ACI) stated it has taken a "fresh look" at its mid-term growth forecasts in light of the further weakening of the world economy. ACI stated the indicators point, unsurprisingly, to an "accentuated decline in traffic" in early 2009. But the airport body predicts the situation will begin to stabilise by year end.
ACI forecasts that 2010 will show "spotty growth", with 2011 starting a rebound - a year later than previously predicted.
Director General, Angela Gittens, reiterated that the delay in growth "is not an excuse for inaction". She again urged airports to look for opportunities to "build up our strengths during this down cycle", by seeking to maximise efficiency and the utilisation of airport resources.
Ms Gittens concluded, "we cannot sit back to see what happens next. Our industry must continue to invest now to ensure that tomorrow we are ready to serve the billions of passengers who rely on us for efficient service in an environmentally sustainable manner".
Airport shares were generally higher yesterday, although Australian Infrastructure Fund fell a further 5.6% and Mexico's OMA dipped 5%. Beijing Airport shares went the other way, rising 4.2%.
Selected airports daily share price movements (% change): 09-Feb-09