Airport operator MAp back in black

Airport operator MAp Group reported a US$17.49 million first half net profit and said the near term traffic outlook at the airports it has invested in is strong.

In the previous year it posted a first half net loss of $265.91 million, reported Dow Jones Newswires.

Last year, MAp became independent of Macquarie Group and changed its name from Macquarie Airports.

The group, which owns 74 percent of Sydney Airport, Australia's largest, alongside large stakes in Copenhagen and Brussels airports, said its proportionate earnings rose 18 percent to $182.51 million from $154.44 million.

MAp sold its 16 percent stake in Mexican airport operator ASUR for $207 million earlier this month.

While the company said the near term traffic outlook is strong, chief executive Kerrie Mather said "a degree of uncertainty and volatility remain".
(Source:www.cargonewsasia.com)