Sydney Airport’s 1Q Passenger Traffic Ahead of Full-Year Expectations; Shares Undervalued
Sydney Airport’s passenger traffic improved nicely in March versus the first couple of months of 2018, and year-to-date is tracking slightly ahead of our full-year projections. But we attribute this improvement largely to timing, given the Easter holiday weekend fell at the end of the first quarter this year versus squarely in the second quarter in 2017, and maintain our near-term forecasts. We expect passenger growth to slow slightly as the year progresses. However, we’re encouraged internation...Sydney Airport's principal activity is the ownership of Sydney Airport.
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