Auckland International Airport Ltd

AIA: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$4.90	Ckcd	Nvldszvbw

Sydney and Auckland Airports' April Traffic Grounded, but Set to Recover Longer Term

Adam Fleck

May 22, 2020

April traffic for wide-moat Auckland and narrow-moat Sydney Airports has begun to fully reflect the coronavirus challenges, with passengers unsurprisingly down 97.5% from a year ago. Given both airports are open for essential travel only, we anticipate passenger movements will remain near zero for at least two more months, evidenced by Sydney Airport’s reported May month-to-date movements, down 98% versus the PCP.

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