Aeroports de Paris slumps on lower EBITDA forecast, BAA parent, Ferrovial, Fraport and Hochtief dive
Aeroports de Paris' shares slumped 8.4% yesterday as the airport operator downgraded its 2009 EBITDA forecast in anticipation of further decline in traffic. AdP lowered its traffic forecast from a drop of up to 4.5% to a drop of up to 6.5%.
Rival major European airport operators' shares also slumped as European stock markets closed lower, despite a resilient session on Wall Street. BAA's owner, Ferrovial, suffered a 5.2% fall in its share price yesterday, while Fraport's share price lost ground at 2.4%. See related article: Traffic falls again at the main European airport hubs in May: Downturn erasing last year's gains
In Asia, Macquarie Airports' shares eased at 0.4%, as the Australian Stock Exchange closed 1.5% lower. Elsewhere in Asia, Hainan Meilan Airport shares rose 2.7% while Shanghai Airport shares rose 2.1% as Asia Pacific share markets recovered ground yesterday.
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Selected airports daily share price movements (% change): 17-Jun-09