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Malaysia Airports shares leap on restructuring breakthrough

Shares in Malaysia Airports (MAHB) surged 8.7% on Friday on expectations the airport operator's earnings will improve as a result of the long-awaited approval of its financial restructuring plan.

MAHB aims to repay debts to the government and to develop a new LCCT at Kuala Lumpur International Airport, to urgently replace the temporary facility AirAsia is fast outgrowing. Credit Suisse upgraded Malaysia Airports from 'underperform' to 'neutral' with a higher target price of MYR2.00 per share.

Selected airports daily share price movements (% change): 13-Feb-09