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Mexico’s GAP, ASUR, OMA and Beijing, Autogrill lead global airport sell-off – SHARE WRAP

Shares in Mexican airport operators Grupo Aeroportuario del Pacifico (GAP), Grupo Aeroportuario del Centro Norte (OMA) and Grupo Aeroportuario del Sureste (ASUR) slumped 17.1%, 14.8% and 9.6% yesterday, respectively, as investors trimmed their exposure to travel stocks worldwide amid concern over the swine flu outbreak.

It was OMA’s steepest daily decline since its Nov-2006 IPO. The broader Mexican IPC stock index tumbled 3.3% - its biggest one-day percentage loss since 30-Mar-2009. The US Centres for Disease Control and Prevention stated it will recommend that non-essential travel to Mexico be avoided.

Beijing Capital Airport also suffered, with its shares falling 11% yesterday in Hong Kong. Beijing was one of the worst-affected airports during the SARS outbreak in 2003.

Shares in Autogrill, the world’s leading airport F&B and retail operator, fell 5.6% in Milan - its biggest drop in over eight weeks.

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Selected airports daily share price movements (% change): 27-Apr-09

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