Across the pond in New Zealand, the nation's government recently cast a shadow over some businesses operating in the transportation sector.
More specifically, the Ministry of Business Innovation and Employment (MBIE) has been conducting a review of airport regulation services in the country.
But what on earth has this got to do with the ASX?
As it turns out, this government review directly impacts a leading ASX 200 industrials business.
And a key development announced this week had its shares flying.
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Auckland International Airport Ltd (ASX: AIA) is New Zealand's largest and busiest airport.
It caters to more than eight million domestic passenger movements annually and is served by four airlines across 23 destinations.
It also accounts for more than 10 million international passenger movements each year, with 69% of all foreign visitors to New Zealand first arriving at this airport.
In April, MBIE launched a review of airport regulations just three weeks after New Zealand's Commerce Commission gave Auckland International the tick of approval for an upgrade.
For this review, MBIE allowed related parties to provide their viewpoints on the regulation of airport services in the nation.
To cut a long story short, this regulatory evaluation created doubt about the airport's operations.
But news from this week appears to have delivered some clarity.
What happened this week?
MBIE provided an update to parties who made submissions on the effectiveness of the economic regulation of airport services in New Zealand.
Here, it advised that legislative changes are not being considered for the time being.
And Auckland International now believes the MBIE review process to be complete.
In turn, the company's shares jumped sharply, rising from $6.78 each at the close of trading on Wednesday to $7.07 apiece by Thursday's close.
This represents a jump of 4.28%.
For context, the S&P/ASX 200 Index (ASX: XJO) was up by 0.9% during this period.
However, Macquarie Group Ltd (ASX: MQG) believes there could be more fuel left in the tank for Auckland International's share price.
What is Macquarie saying?
The broker has now placed an overperform rating on Auckland International, citing the regulatory review outcome as one of the key catalysts for its decision.
It also noted that passenger volumes continue to recover towards pre-COVID levels, with non-aeronautical revenue opportunities providing further appeal for the company.
As such, Macquarie sees potential for further share price appreciation for Auckland International.
However, it is important to note that the company's primary reporting currency is New Zealand dollars.
So, Macquarie has placed a 12-month share price target of NZ$8.55, up from NZ$7.46 on Wednesday.
This equates to a healthy 15% ascent for the airport's shares.
