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Airport stocks lower as ACI forecast “conservative” growth in 2010

Shares in airports worldwide were generally lower in trading yesterday following the release of ACI’s Sep-2009 traffic results, which showed international passenger number and cargo growth still in negative territory.

ACI Director General, Angela Gittens, stated 2010 is expected to see a conservative growth of 2.5%, led by domestic markets.

Airports Council International (ACI) traffic highlights in Sep-2009:

  • Passenger numbers: 262 million, +1.6% year-on-year;
    • Domestic: 136.7 million, +4.4%;
    • International: 123.3 million, -1.1%;
  • Cargo volume: 5.1 million tonnes, -2.9%;
    • Domestic: 1.7 million tonnes, +3.7%;
    • International: 3.2 million tonnes, -5.8%.

Positive performers include Mexican airport operators, ASUR (+5.0%) and GAP (+1.4%). The smallest of Mexico’s three major airport operators, OMA, led the decline in global airport shares, closing down 3.7%.

Chinese airports also went against the trend, with Guangzhou, Shenzhen, Shanghai and Beijing airports all gaining 1.7%, 1.6%, 1.4% and 1.0%, respectively. China's domestic market is still showing double digit growth.

Selected airports daily share price movements (% change): 03-Nov-2009