The easiest way to fly green? Take the train instead. Soon travellers in France will not have a choice. Domestic flights of two and a half hours or fewer will be outlawed under new emissions rules. But investors need not fear for Parisian airports owner ADP which has instead staked its future on international travel.
Its shares blipped on to traders’ radars on Tuesday when Schiphol Group, the Amsterdam airport owner, sold its 3.9% ADP stake one-tenth below market prices. Its shares plummeted more than 12 per cent.
ADP owns and operates the important Charles de Gaulle and Orly airports in Paris. Traffic in the first nine months of this year remained about 15 per cent below 2019 levels. Lockdowns in China explain why lucrative Asia-Pacific routes remain far more subdued.