Airport shares mixed on Monday. Traffic performance reflects regional differences
Shares in China’s Shenzhen Airport were up 0.6% yesterday. Passenger traffic at the airport rose 5.1% year-on-year in Jan-2010 to 2.2 million, while aircraft movements increased by 6.1% year-on-year in Jan-2010 to 18,200.
Shenzhen's cargo volumes soared 60.0% in the month to 58,300 tonnes. UPS has commenced operations of its new Asia Pacific hub at Shenzhen Airport, which should trigger even higher growth rates in the coming months.
Shenzhen Airport’s traffic report is featured in today’s edition of Airport Business Daily, which also includes the following traffic highlights, showing mixed results, reflecting differences in regional economic recoveries:
- Dalian Airport expects 2010 pax to break 10 million mark;
- Stockholm-Arlanda Airport reports 1% fall in Jan-2010 pax numbers;
- Manchester Airport reports 14% fall in Jan-2010 pax numbers;
- Tegel Airport reports 4% rise in Jan-2010 pax numbers;
- Oakland Airport reports 2% rise in Dec-2009 pax numbers.
In Europe, airport stocks were also mixed yesterday – Venice rebounded (+1.9%), Zurich gained (+0.5%), Fraport and Vienna closed higher (+0.3% and +0.2%, respectively), while Copenhagen (-0.4%), TAV (-3.3%) and BAA parent, Ferrovial (-2.3%) continued to fall. See related report: GIP selling off Gatwick by the pound – is that what the airlines expected?
Selected airports daily share price movements (% change): 08-Feb-2010