China’s major airports profitable in 1H2009; traffic growth remains firmly in positive territory

Airports in China have been defying the weaker trend experienced at most of their global counterparts, as they benefit from the recovery of Chinese domestic travel demand, driven partly by government stimulus measures designed to help revive demand. [2090 words]

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This report contains the following subheadings:

• 40% passenger growth among CAAC East China airports, 34% in Central/Southern Region in Aug-2009
• Xiamen Airport benefiting from cross-Strait services
• Growth for Shanghai, but affected (traffic and profit wise) by international weakness
• Largest rate of pax growth since Jan-2008 for Guangzhou and Shenzhen
• Shenzhen most profitable Chinese airport on a net level in 1H2009 
• Improvements in passenger traffic at Beijing, with double-digit revenue growth as well 
• Cargo showing signs of recovery
• Shanghai Pudong continues to see growth contractions, but double-digit growth at Hongqiao
• Guangzhou freight growth reaches highest level in over four years
• Hainan Meilan reports strong gains in Aug-2009, expects improvements in 2H2009
• Hainan Airports’ net profit margin above 50% in 1H2009
• Hong Kong expecting a “slow and possibly volatile” recovery

This report contains the following charts and tables:

• CAAC East China Regional Administration Member Airport passenger traffic: Aug-2009
• CAAC Central and Southern Regional Administration Member Airport passenger traffic: Aug-2009
• CAAC Southern, Central and East Regional Administration Member Airport aircraft movements: Aug-2009
• CAAC Central and Southern Regional Administration Member Airport total passenger number growth: Jul-2008 to Aug-2009
• Shanghai Pudong, Shanghai Hongqiao, Xiamen and Nanjing Airports total passenger number growth: Jul-2008 to Aug-2009
• Guangzhou International Airport passenger number growth and cargo volume growth: Jul-2007 to Aug-2009
• Shenzhen International Airport passenger number growth and cargo volume growth: Jul-2007 to Aug-2009
• Net profit (CNY) among select Chinese Airports: Six months ended 30-Jun-2009
• Beijing Airport passenger number growth and cargo volume growth: Jul-2007 to Aug-2009
• CAAC East China Regional Administration Member Airport freight traffic: Aug-2009
• Shanghai Pudong, Shanghai Hongqiao, Xiamen and Nanjing Airports cargo volume growth: Jul-2008 to Aug-2009
• CAAC Central and Southern Regional Administration Member Airport freight traffic: Aug-2009
• CAAC Central and Southern Regional Administration Member Airport freight growth: Jul-2008 to Aug-2009
• Hainan Meilan International Airport Aug-2009 traffic
• Hainan Meilan Airport passenger number growth and cargo volume growth: Aug-2009 to Aug-2009
• Net profit margin (%) among select Chinese Airports: Six months ended 30-Jun-2009
• Hong Kong International Airport Aug-2009 traffic
• Hong Kong International Airport passenger and cargo growth: Aug-2007 to Aug-2009