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Macquarie Airports up on moderating traffic declines, AoT joins Chinese airport weakness

Shares in Macquarie Airports gained 2.6% yesterday following the release of Jul-2009 traffic highlights at its investment airports.

Macquarie Airports, which is currently in the midst of separating from the Macquarie Group, reported further moderation in the rate of traffic declines at its investment airports. Its European airports registered their smallest declines since the start of the global financial crisis. Macquarie Airports' traffic highlights in Jul-2009 included:

  • Passenger numbers:
    • Sydney Airport: 2.8 million, -3.2% year-on-year;
      • Domestic: 1.9 million, -2.7%;
      • International: 930,000, -3.0%;
    • Copenhagen Airport: 2.0 million, -6.8%;
      • Domestic: 113,000, +7.0%;
      • International: 1.5 million, -4.0%;
      • Transfer: 423,000, -17.7%;
    • Brussels Airport: 1.8 million, -6.6%;
    • Bristol Airport: 623,000, -3.5%;
    • ASUR: 1.4 million, -16.7%.

Elsewhere in the region, Airports of Thailand’s shares slumped 5.6%, joining the majority of Chinese airports, whose shares have been descending since last week. Hainan Meilan International Airport went against the trend yesterday, gaining 2.6%.

Shares in Gemina, parent of Aeroporti di Roma (a former Macquarie Airports investment), eased 0.2% following the release of the airport's Jul-2009 traffic results, which showed cargo volume still in double-digit negative growth:

Aeroporti di Roma traffic highlights in Jul-2009:

  • Passenger numbers: 3.8 million, -6.2% year-on-year;
    • Domestic: 1.3 million, -5.5%;
    • International: 2.5 million, -6.5%;
  • Cargo volume: 13,539 tonnes, -14.0%;
  • Aircraft movements: 35,287, -8.7%.

Meanwhile, shares in Aeroports de Paris, Fraport and BAA parent, Ferrovial, lost ground yesterday, closing 2.0%, 1.6% and 1.3% lower, respectively.

Selected airports daily share price movements (% change): 19-Aug-2009