Advertisement
UK markets closed
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • CRUDE OIL

    83.11
    +1.76 (+2.16%)
     
  • GOLD FUTURES

    2,254.80
    +42.10 (+1.90%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • Bitcoin GBP

    56,151.99
    +1,362.51 (+2.49%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    16,379.46
    -20.06 (-0.12%)
     
  • UK FTSE All Share

    4,338.05
    +12.12 (+0.28%)
     

French airport group ADP says low-cost growth offsets weak Asia demand

PARIS, July 28 (Reuters) - French airport operator Groupe (Other OTC: GROPF - news) ADP said its retail revenue fell in the first half as attacks in Europe deterred travellers from Asia but confirmed its forecast for traffic growth for the year thanks to growth by low cost carriers.

"We are seeing good traffic volumes in Paris, what we are seeing is a shift in the type of traffic," Chief Financial Officer Philippe Pascal said on Thursday, adding that low cost traffic was up by 11.3 percent in the first half.

Earlier, travel data analysis company ForwardKeys said demand for air travel to France and Nice (Milan: NICE.MI - news) , the country's second most popular destination after Paris, has dropped again after an militant Islamist attacker killed 84 people in the city on the French Riviera on July 14.

But Pascal said the growth of low cost carriers such as Air France-KLM unit Transavia and IAG-owned Vueling meant the group expected it could achieve passenger growth at its Paris airports of 2.3 percent this year compared with 2015.

ADVERTISEMENT

While Groupe ADP confirmed its forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) to rise slightly this year, it said net profit attributable to the group would now fall due to the difficulties experience by Turkish airports group TAV, in which ADP owns a 38 percent stake.

(Reporting by Victoria Bryan and Cyril Altmeyer; Additional reporting by Pawel Lipinski; Editing by Andrew Callus)