Shenzhen Airport Company:1st Take,Aug-17Traffic,Pax Growth Accelerated to 8.8%YoY
SACL's pax growth accelerated to 8.8% YoY in Aug-17, from 7.0% in Jul-17. In8M17, aggregate pax volume grew 8.0% YoY, above 4.8% in 8M16.。
Aircraft traffic growth improved to 5.9% YoY, following 4.3% in Jul-17, withhigher average daily landings of 945(vs. 926in Jul-17), thanks to the increase inpeak hour landings, we think. Average pax per aircraft also climbed, to 136from134in Jul-17. YTD, aircraft movement increased 6.9% YoY, up from 3.1% in 8M16.。
Cargo/mail volume growth recovered to +0.8% YoY, vs. -0.1% in Jul-17. In 8M17,cargo/mail volume growth was 5.0%, slower than 8.7% in 8M16.