Shares in Australian Infrastructure Fund (AIX) fell almost 7% to $2.67 by late afternoon despite positive half year passenger results at Melbourne Airport, which the fund has a significant interest.
AIX owns 10.1% of APAC, the holding company for Melbourne and Launceston airport, and APAC represents 23.8% of the AIX portfolio.
The second quarter of the 2007/08 financial year – which included the start of the busy Christmas travel period – has seen both international and domestic passenger numbers continue their strong growth.
Overall passenger numbers were up 6% for the quarter – the equivalent of an additional 328,000 passengers through Melbourne Airport. For the half year to date, passengers have increased by 5%, or an extra 580,000 passengers.
International traffic also rose by 5%, buoyed by Cathay Pacific's increase to three flight per day between Melbourne and Hong Kong, the introduction of Korean Air, as well as increased in seats from China Eastern, Jetstar and Philippine Airlines.
