Mexico’s three airport operators will now contribute 9% of their gross revenue to the government from the current 5%.
(Bloomberg) — Mexico’s three airport operators will now contribute 9% of their gross revenue to the government from the current 5%.
GAP, OMA and Asur have reached an agreement with the government to modify the tariff structure that had been in place for over two decades, the Infrastructure, Communications and Transportation Ministry said in a statement Thursday.
Earlier this month, the operators said the government had “unilaterally and without prior communication” modified the fee structure. The announcement sent shares tumbling the most on record as investors interpreted the move as another overreach by President Andres Manuel Lopez Obrador’s administration.
GAP’s total revenues for 2022 amounted to 22.5 billion pesos ($1.2 billion), while OMA reported revenue of 11.9 billion pesos ($654 million). Asur’s revenues last year amounted to 14.3 billion pesos ($786 million).
Shares in Grupo Aeroportuario del Centro Norte SAB, or OMA, fell 0.75% in Mexico City on Thursday, while Grupo Aeroportuario del Sureste SAB, or Asur, fell 1.63%. Grupo Aeroportuario del Pacifico SAB or GAP dropped the most, with shares falling 3.38%.
AMLO Sends Mexican Stocks Down With Confusing Airport Fee Change
“These changes will benefit passengers by reducing the cost of airport services that have an impact on ticket prices,” the government said in the statement. The changes won’t negatively affect the financial or operational situation of the operators, the ministry said.
–With assistance from Michael O’Boyle.
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