Fraport jumps on new charges, JAT continues to climb - Airports Share Wrap
Fraport shares jumped 7.3% on Tuesday, as the company announced it has reached an agreement with airlines at Frankfurt airport on the schedule of charges over the next two years. A full five year agreement with aviation partners is needed by 19-Feb-2010, if the new schedule is to come into effect.
The agreement covers landing fees, charges for noise, engine emissions and parking, passenger fees and security charges. In total, charges will increase by 4% on 01-Jul-2010, followed by a 3% increase on 01-Oct-2010. Another two increases, of 3% and 2.5%, will follow in 2011, resulting in a total increase of 12.5%. However, if no consensus is reached the airport’s aviation partners can cancel the agreement, resulting in a one-time increase of 8.4% in airport charges on 01-Apr-2010.
In Asia, Japan Airport Terminal soared 7.4%, as it continues to gain on news that the Japanese Government is not planning to turn Tokyo Haneda Airport into a 24-hour international hub. Xiamen and Hainan Meilan shares also had positive days, up 5.3% and 3.8% respectively, but other Chinese Airport shares were more subdued.
Selected airports daily share price movements (% change): 01-Dec-09