Another ugly day for airport shares
21st November, 2008
Key Points:
- AdP shares slump 7.5% as Air France slows new aircraft deliveries
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- Ferrovial, Copenhagen, Guangzhou, Zurich airports shares rise, Fraport, Aercap fall, Boeing steady
- Denpasar (Bali) Airport's domestic terminal to be expanded. Indonesian aviation prospects improve
- Dramatic falls in airport traffic around the world in Nov-08 - Two years of gains lost
- Senator Feinstein raises safety concerns over Air Traffic Controller shortage in Southern California
- American Association of Airport Executives urges action to expedite airport projects
- More analysis from Airport Business Daily...
Heavy selling struck AdP's shares on 20-Nov-08 as Air France confirmed capacity cuts for the Winter and announced it would now stagger a fleet investment programme over a longer period, making for fewer seats at the Paris hub.
Infratil's shares were hit by weak earnings and traffic at its airports, while Vienna Airport's traffic outlook downgrade disappointed investors and as they consider the outlook for Austrian Airlines as part of the Lufthansa Group.
Selected airports daily share price movements (% change): 20-Nov-08
Source: Centre for Asia Pacific Aviation & Yahoo! Finance