Ferrovial confirms BAA bond issue, Germany airport traffic down 3.1% in 3Q2009 – Airports Share Wrap
Ferrovial, parent of BAA, confirmed that the UK airports operator would sell approximately GBP1 billion in bonds through a number of sales in 1H2010 to help refinance debt. Ferrovial has already injected GBP500 million into BAA in preparation for the bond issue.
Ferrovial also announced that it expects UK regulators will decide by Mar-2010 whether the company will be forced to sell of London Stansted Airport. The UK Competition Authority forced BAA to sell London Gatwick airport. Ferrovial sold the airport to Global Infrastructure Partnership (GIP) for GBP1.51 billion in Oct-2009. GIP is now planning to sell a stake in Gatwick next year, although it would retain control, according to Bloomberg reports.
Ferrovial shares jumped 4.1% on Monday.
Meanwhile, the latest German airport traffic data shows a mixed picture for recovery as the year draws to a close. The Germany’s Federal Statistical Office reported total passenger numbers departing from German airports fell 3.1% year-on-year to 26.4 million for the three months ended Sep-2009.
Selected airports daily share price movements (% change): 07-Dec-09