- Passenger numbers:
- Domestic: 2.6 million, +8.4% year-on-year;
- International: 2.1 million, +9.4%;
Mexican domestic passenger numbers up 8% in Oct-2013, int'l pax up 9%
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Synergy spreads its wings to Argentina and Mexico to broaden its strategic Latin markets
After losing the competition to acquire a majority stake in TAP Portugal during 2015, the South American conglomerate Synergy Group has turned its attention to Argentina and Mexico – two of Latin America’s most promising markets. Mexico’s domestic passenger growth continues at a steady rate, and a more liberalised era ushered in by Argentina’s new government is opening up the country’s domestic and international markets to new competitors.
Synergy is taking a sizeable stake in the Mexican regional airline Aeromar, a small player in the country’s aviation market compared with the fast-growing low cost airlines that have grown rapidly during the last few years. Synergy decided to outline plans for its stake in Aeromar just as the US presidential election casts a cloud over the Mexican market due to president-elect Trump’s protectionist rhetoric during his campaign.
Synergy’s moves in Argentina and Mexico are occurring as Avianca Holdings searches for a strategic investor and foreign entities line up to invest in Latin American airlines. For now, Synergy remains Avianca’s largest shareholder.
Interjet’s international passengers soar with new US transborder push against Mexican and US rivals
International passenger numbers for the Mexican low cost airline Interjet skyrocketed more than 50% in the first seven months of 2016, reflecting the launch of more than 10 new international routes during that period, and with US transborder routes representing the bulk of Interjet’s international expansion.
Interjet is no doubt positioning itself to seize on opportunities created by a new, finalised bilateral between the US and Mexico that lifts restrictions on the number of airlines operating on specific routes between the two countries. Interjet’s rival Volaris has also grown its US transborder passengers in 2016, but it has a different route profile from that of Interjet. Generally, Interjet is subject to higher levels of competition on some of its transborder routes than Volaris, given that Interjet and Volaris offer different products to their passengers.
During the past two to three years Interjet and Volaris have been essentially tied for the coveted position of Mexico’s second largest domestic airline. But for the seven months ending Jul-2017 Volaris logged 22% domestic passenger growth, while Interjet’s passenger numbers inched down slightly, resulting in Volaris assuming full command of the second place ranking.