Infratil reports net loss, Aeroports de Paris gains, but traffic continues to contract
Shares in New Zealand’s infrastructure company, Infratil, slipped 1.3% in early morning trading on 17-Nov-2009, following the release of its financial results for the six months ended 30-Sep-2009, which showed a net loss of NZD31.4 million (USD23.6 million).
Infrail's portfolio includes Wellington Airport and airports in Europe. The company reported passenger traffic at its European airports fell 39% during the period, while Wellington Airport saw a 6% dip in domestic traffic and a 1.8% increase in international traffic.
Also in the Asia Pacific region, MAp and Australian Infrastructure Fund’s shares ended the day 1.1% and 0.8% lower, respectively. Chinese airports led share gains in the region, with Xiamen, Guangzhou and Shanghai airports gaining 3.7%, 3.0% and 2.1%, respectively.
Aeroports de Paris traffic continues to contract
In Europe, Aeroports de Paris’ traffic continued to contract in Oct-2009, led by traffic declines at Paris Orly Airport, which saw a 6.7% deterioration in passenger numbers, down from the -3.4% reported in the previous month. Combined passenger numbers at Paris Charles de Gaul and Paris Orly fell 3.3% year-on-year, while aircraft movements fell 6.7%.
Elsewhere in Europe, shares in Fraport, operator of Frankfurt Airport, gained 3.4% in trading. The group was upgraded from 'hold' to 'buy' by Citigroup, citing a recovery in passenger traffic in 2010 and increased revenues from external activities as the drivers.
Selected airports daily share price movements (% change): 16-Nov-2009