TEXT - Fitch publishes quarterly airport trend data

Wed Feb 13, 2013 10:45am EST

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Feb 13 - Fitch Ratings has published a quarterly snapshot detailing volume
trends for its rated airports in the United States. Going forward, Fitch will
continue to make this data available on a quarterly basis on
www.fitchratings.com.

Passenger traffic for Fitch's rated airports is up 1.3% for the first three 
quarters of 2012 compared to the same period in 2011. Airports serving larger 
metropolitan areas continue to perform better than smaller regional airports 
with San Francisco, LaGuardia and Miami experiencing meaningful increases in 
traffic. Growth for some airports has been above historical trends, and Fitch 
views this as more temporary and likely to revert back to a more sustainable 
rate of growth.

Regional airports, especially secondary airports serving major markets, continue
to be on a declining trend. Secondary airports such as Manchester (New 
Hampshire), TF Green (Providence), Burbank (California) and Ontario (California)
have been experiencing multiyear declines which continued in 2012. Integration 
of services between recent merging legacy carriers, such as United and 
Continental or Delta and Northwest, has not measurably affected traffic 
performance at their primary hub airports or focus cities such as Atlanta, 
Chicago, Denver, Detroit, Houston Intercontinental, Minneapolis, and Washington 
Dulles airports. Still, worst-performing airports in Fitch's portfolio include 
Memphis, Milwaukee, and Cincinnati, all of which experienced double-digit 
declines. Traffic declines at all three airports are results of corporate 
decisions by carriers to reduce service, particularly those to support 
connecting traffic.pdf
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