Flughafen Wien AG Maintains Hold Recommendation Amid Growth Challenges

Flughafen Wien AG's latest traffic update reveals a mixed picture for investors. The 12-day conflict between Iran and Israel has temporarily hindered growth, affecting June's passenger numbers. Overall, June saw a 1.5% year-over-year increase in passengers, totaling 4.03 million group-wide. However, the Vienna main airport experienced a slight decline of 0.4%, in contrast to growth at other European airports.

The conflict caused significant disruptions, particularly in travel routes involving Israel, leading to a loss of approximately 50,000 passengers in June. Airlines plan to resume regular flights in August, which might restore growth momentum.

Attention now shifts to the upcoming decision regarding the third runway project within the next year. A positive decision could result in substantial infrastructure investment, enhancing long-term growth. Despite uncertainties, the HOLD rating with a target price of €60 reflects steady investor sentiment.