September-Quarter Traffic at Sydney and Auckland Airport Tracks Our Expectations
Passenger traffic during the September quarter at narrow-moat Sydney Airport and wide-moat Auckland Airport tracked our full-year expectations, with solid, but slowing international movements. As a reminder, Auckland's year-end is June, Sydney's is December. Our fair value estimates remain at AUD 7.30 per security for Sydney and NZD 7.40 for Auckland’s New Zealand shares, but increases to AUD 6.90 per share for Auckland’s Australian listing given a strengthening New Zealand dollar. Sydney’s secu...Sydney Airport's principal activity is the ownership of Sydney Airport.
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