Regional airports set to grow as Mexico City hits saturation point - OMA

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Friday, October 24, 2014

Saturation at Mexico City's international airport (AICM) will create opportunities for growth in regional airports, said airport operator OMA's CFO José Luis Guerrero during a 3Q14 results call.

"The Mexico City airport saturation creates a short-term benefit for us, as airlines would much rather prefer to open a new route in a regional airport than delay flights in the capital," said Guerrero.

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More capacity in the capital will, however, benefit the entire network of airports in the long term.

The first phase of the new Mexico City airport is expected to start operations within five years, but the immediate effect it will have on other airports around the country is difficult to estimate, added Guerrero.

RESULTS

OMA reported a net profit of 271mn pesos (US$20mn) for the third quarter, up 18.9% on the prior-year period, according to the company's results report.

Total revenue came to 1bn pesos, a 15.3% year-on-year increase, with aeronautical and non-aeronautical revenue up 12.8% and 8.1%, respectively.

Ebitda was up 23% at 545mn pesos for the quarter.

Total passenger numbers were up 9.2%, with OMA's airports handling 4mn passengers during the quarter.

Domestic traffic increased 9.2%, while international traffic increased 9.5% year-on-year.