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MAp, Australian Infrastructure Fund hit by further capacity cuts, Fraport higher on charges increase

Shares in Fraport eased 0.8% yesterday, after falling 1.9% on the previous trading day, on news that the airport operator plans to increase airport charges from Jan-2010, to help fund airport expansion plans. The Frankfurt Dax 30 index gained 1.3% yesterday.

Vienna Airport’s shares eased 0.1% as the airport revealed an easing in passenger traffic falls, but cargo volume deteriorated in Jun-2009, slumping 13.2% year-on-year:

  • Passenger numbers: 1.7 million, -10.5% year-on-year;
  • Cargo volume: 19,486 tonnes, -13.2%;
  • Aircraft movements: 21,469, -9.4%.

Shares in Australia’s Macquarie Airports and Australian Infrastructure Fund dropped 4.1% and 2.1% yesterday, respectively, as domestic airlines, including Virgin Blue and Qantas, contemplate further capacity cuts on news of yield and profitability weakness and the Delta-Virgin Blue JV announcement. The Sydney ASX index eased 0.1% yesterday.

Elsewhere in Asia, Shanghai Airport's shares gained 4.6%, while Malaysia Airports continued its recent ascent, closing 3.7% higher.

Selected airports daily share price movements (% change): 09-Jul-2009