Created by Airport Insights, the Airport Operator Stock Index is a customized market capitalization-weighted stock market index that tracks the performance of 26* airport operators listed in stock exchanges all over the world.
*GMR Infrastructure (GMRINFRA.NS) which operates a number of airports in India and the Philippines, has recently been added to the Airport Operator Stock Index.
It tracks the total market capitalization of this group of airport operators on a weekly basis, with the 31 July 2020 being the base date and the index containing a value of 100 derived from the weighted average market capitalization as of the base date.
Over the past week, the Index moved up by 0.3 points to reach 112.3 points at the close of 4 Sept 2020. Compared to the start of the Index on 31 July 2020, the Index has increased by 12.3 points
While some of the stocks in the Airport Operator Stock Index saw weekly increases in market capitalization by above 5%, these increases were offset by the negative or 0% growth of the majority of the stocks over the week.
Over the week, 2 of the publicly-listed airport operators saw increases in their market capitalization above 5%. These were Sydney Airport Corporation Limited, Auckland International Airport Limited and Airports Corporation of Vietnam.
Analyzing the growth in market capitalization from the start of the Airport Operator Stock Index on 31 July 2020 , Japan Airport Terminal Company's stock showed the highest growth in its market capitalization at 31.2%.
Highlights of the week ending on 4 Sept 2020:
Fitch Ratings revised the outlook on Spanish airports operator Aena S.M.E. SA to negative from stable, citing considerable uncertainty in traffic profile and recovery for the second half of the year and beyond.
The Airports Corporation of Viet Nam (ACV) would continue to cut fees for takeoff and landing and aircraft operating services for domestic flights by 50% for the next six months to support airlines affected by the COVID-19 pandemic, according to a Transport Ministry circular.
The Civil Aviation Administration of China announced that it would resume direct flights to Beijing from eight countries including Thailand, Cambodia, Greece, Denmark, Sweden and Canada from 3 Sept 2020.
The GMR Group announced that it would consolidate its airports business while eyeing selective divestment opportunities in the power segment, including its barge mounted project, highways and coal, to monetise some assets.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. announced that on 3 Sept 2020 its subsidiary MBJ Airports Limited signed loan agreements with The Bank of Nova Scotia Jamaica Limited and The Bank of Nova Scotia. The loan amount is US$60 mil.
Malaysia Airports unveiled a new rental model for its tenants. With this new rental model, existing tenants who had signed up, or are going to sign up under the ongoing airport commercial reset programme will get to benefit from a rental reduction of up to 30% from the current rate, equivalent to a total annual savings of MYR 45 mil (US$10.8 mil) for the participating tenants.
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