BAA adjusts FY2012 profit outlook
UK airports operator BAA announced it expects earnings at its London airports at Heathrow and Stansted in FY2012 will be marginally higher than originally forecast. EBITDA is expected to be GBP4 million higher than forecast due to higher per passenger spending, despite a projected reduction in passenger numbers at the airports. Shares in BAA owner, Ferrovial were up 0.8%.
India's GMR Infrastructure-controlled Delhi International Airport Ltd is reportedly seeking an extension of the airport development fee, which is pending with the Airports Economic Regulatory Authority, to bridge a gap in its funding. The request was reportedly made after a consortium of lenders led by ICICI Bank reportedly refused to lend to DHIAL, citing its inability to service debt through the current revenue model. GMR Airports CFO Sidharth Kapur commented that the company is not in a position to raise any further equity because "other members of our consortium have issues". GMR infrastructure shares closed 0.8% lower.
Aeroporti di Roma held a shareholders' meeting of the company, to reduce the number of board members to 11 and confirm the appointment of two new directors. Guido Angiolini, Aldo Minucci, Piergiorgio Peluso, Massimo Pini and Marco Troncone resigned from office while directors Carlo Bertazzo and Giuseppe Angiolini, who had been co-opted at the last board meeting in May-2011, have been confirmed as new members.
Selected airport & airport operators share price movements (% change): 09-Jun-2011