Chinese airports remain mixed, BAA parent, Ferrovial strong while AdP continues to slide
Shares in Chinese airports remained mixed on 31-Dec-2009 with Shanghai Airport (+2.9%) and Beijing Airport (+2.4%) leading the charge, while Hainan Meilan International Airport lost ground, declining 1.9%.
Guangzhou Airport’s shares eased 0.1%. The airport reported an 11% year-on-year increase in annual passenger numbers in 2009 to 37 million. It expects passenger numbers and cargo volume to reach 40 million and 1.0 million tonnes, respectively, in 2010. Meanwhile, Kunming Airport reported a 19.7% increase in passenger numbers to 18.9 million in 2009.
Elsewhere in the Asia Pacific region, Malaysia Airports Holdings Bhd’s shares gained 1.8% in trading on 31-Dec-2009, following the release of its Key Performance Indicators expectations for 2010, setting an EBITDA target of MYR620 million (USD181 million). The airport operator expects a return on equity of 6.57%, down from 9.22% in 2009, due to a change in accounting methods.
Selected airports daily share price movements (% change): 31-Dec-2009