News: SYD Sydney Airport Holdings Pty Says Dec Total Passenger Traffic Up 0.6%, page-4

Easily, thank you for the question, IMHO Sydney Airport and travel stocks like Qantas and Air New Zealand are inversely correlated in times like overhyped coronavirus nonsense to the more defensive, necessity like stocks such as Caltex Australia, AGL Energy and BlueScope Steel.

Gasoline (petroleum), energy retailers and Western world steel makers are the polar opposites of discretionary travel stocks like Sydney Airport, Qantas and Air New Zealand (Virgin might struggle to stay afloat), a VAH event would be bad for slots at Sydney Airport but due to reduction in competition, good for Qantas and Air New Zealand (charge higher prices).

If the hype from this coronavirus stops, SYD (and QAN and AIR/AIZ) (IAG and EZJ in Europe, LUV, AAL, DAL and UAL in our United States) will all be back in favor but not for another quarter.

The damage from US, Singapore and Australia is now irreversible IMHO for at least one or two quarters. SYD will IMHO become a good buy in say 1 or 2 quarters when the lowballing and selloffs stop, say at $7 AUD or something. Same with QAN and AIZ, IAG and EZJ, AAL, LUV, UAL and DAL, all have slots at SYD except for LUV, the Jetstar of these United States.