Private airports double their profits

Despite the pandemic Covid-19 It caused the worst crisis in the history of aviation, the three main private companies that run this airport Mexican airports They have been able to double their profits in this government.

With 34 airports under franchise, Southeastern Airports Group (ASUR), Pacific Airport Group (the gap) and North Central Airport Group OMA achieved a combined net profit of 83.948 million pesos from 2019 to 2023, that is, in the first five years of the President’s administration. Andrés Manuel Lopez Obrador.

This figure is twice the profits obtained during the corresponding period of Enrique Peña Nieto's administration, when it accumulated $40.8 billion from 2013 to 2017, financial reports filed with the Mexican Stock Exchange (BMV) indicate.

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Source: Financial reports of companies and the Federal Civil Aviation Agency

“It's always been the country Destination Tourist Very attractive on a global level, which partly explains why the groups exist Airports Historically “They did a good job,” said Brian Rodriguez, an analyst at Monex.

As if that were not enough, Mexico was one of the few countries that did not close its borders during the pandemic, so practically everyone was moving to consider it the main destination and allow it to be the first country in Latin America to recover in passenger traffic conditions. Globalism.

Formerly United Nations Tourism Authority world tourism organization, Mexico has for the first time become the second most visited country on the planet in 2021, after occupying third place in 2020, Mexico announced.

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Added to this is the strong investment related to Plans Masters of development of airfield clusters, allowing a solid infrastructure And to meet the growing tourist demand, especially from the millennial generation, who have a greater appetite for travel Generations Rodriguez noted that he passed.

From their point of view, traders' profits are also the result of a low level of leverage, a good system for controlling costs and expenses, as well as diversification of income, as Airport usage fees (TUA) are becoming less represented, while those related to commercial activities are gaining importance.

In addition to the TUA fees they charge passengers, airports have other sources of TUA fees Enter Like the prices they get from airlines in Services dropaccommodation, parking lots, aircraft hangars, the border And Rentals And the resources needed to rent buildings for companies and public parking lots.

“Airport groups recovered from Covid-19 faster than we expected, which was reflected in terms of valuation, as there was a fair number of opportunity purchases in the sector and this explains that the groups also achieved gains in… BMV“said the Monix specialist.

Asor is in charge of Cancun Airport and eight other airports in the country, and is the franchisee with the highest net profit since self-connection began. Fourth shiftby collecting 35.530 million pesos, after reporting 17.874 million in the similar period of the last government.

It is followed by GAP, with Guadalajara Airport and 11 other airports, whose profits doubled from 15,447 million to 32,292 million in the same period. In third place is Oma, which operates Monterrey and 12 other stations, and whose profits rose from 7.479 million to 16.126 million.

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Jonathan Felix, aviation sector analyst at Verum, explained that the good results are due to the fact that airport concessionaires charge fees in a way that ensures they receive a financial return for providing adequate maintenance of the infrastructure.

“For example, they have formulas where if the dollar goes up they compensate for it with another variable, and vice versa, if the exchange rate goes down they also cover themselves. And the same thing if the number of passengers carried goes down they are compensated for with something else. That is why the margins of airport concessionaires are usually very wide, While airline margins are very limited.”

“Historically, even in crises, the operating margin of airport groups has been very wide,” Jonathan Felix emphasized.

MrMaster in Management And innovation tourism Pablo Álvarez Icaza, from EST-IPN, agreed that good tourism performance underlies airport results.

The country received a large influx of American visitors He told this publishing house, given the pent-up demand due to Covid and the recovery of the US economy.

In addition, Mexico has benefited from tourism a job Which plans to install factories here in China, first because of the health emergency and then because the reasons GeostrategyHe finished.




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