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TRANSPORTATION: Aeroports de Paris; Jan Traffic

TRANSPORTATION

(ADPFP; NR/A-/BBB+) 

An aside but the Paris traffic will look better than actual if it hasn't adjusted one-offs from last year (circa 10% headwind on air-traffic trial system that ran through the month last year). Paris traffic has generally been growing 2-5% in recent months. ADP manages/reports across both CDG and Orly.

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(ADPFP; NR/A-/BBB+) 

An aside but the Paris traffic will look better than actual if it hasn't adjusted one-offs from last year (circa 10% headwind on air-traffic trial system that ran through the month last year). Paris traffic has generally been growing 2-5% in recent months. ADP manages/reports across both CDG and Orly.

Keep reading...Show less