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(HSBC) European Airports - The preferred way to invest in aviation this year

* Expect improving traffic growth at most European airports, and better passenger mix to bolster commercial trends
* Maintain Buy on Fraport and AdP, expecting volume recovery into 2017 at their main airports and possibly in Turkey
* Upgrade Aena, Vienna and Zurich to Buy, Vienna on valuation grounds, Zurich and Aena on traffic and dividend momentum
Download hsbc_airport_06012017.pdf
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laurent@chekroun.com
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