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Guangzhou Airport reports double-digit traffic growth: Airport Share Wrap

Guangzhou Baiyun International Airport shares dipped 1.0% yesterday ahead of the release of its traffic report for Mar-2010 this morning.

The Chinese operator reported double-digit traffic growth for the month, with passenger numbers up 17.7% year-on-year to 3.7 million in Mar-2010. Cargo volumes surged 29.8% to 96,970 tonnes and aircraft movements were up 11.5% to 28,004 in the period.

Share performances of Chinese airports were mixed yesterday. Hainan Meilan (+0.8%) and Beijing (+0.2%) rose, while Shenzhen (-1.3%) and Shanghai (-1.7%) closed weaker.

Malaysia Airports Holdings Bhd (MAHB) shares were stable yesterday. HWANGDBS Vickers Research maintained a “buy” rating on the operator, with the upcoming Kuala Lumpur International Airport development project and low cost carrier terminal expected to boost the site as a commercial hub. HWANGDBS increased MAHB’s share-price target from MYR4.75 to MYR6.15.

These reports are included in today’s edition of Airport Business Daily, which also features CAPA exclusive analysis on strategic airport developments globally, including a feature on European earnings: Zurich, Vienna and Hochtief airport company results 2009.

Selected airports daily share price movements (% change): 15-Apr-2010