ASUR reports reduction in first quarter passengers, revenue and net profit

ASUR, operator of nine Mexican airports, reported a 2.4% fall in 1Q2011 net profit to USD35.2 million, as passenger numbers declined 1.3%. The airport operator attributed the fall in traffic to the later timing of Easter this year.

ASUR, which operates Cancun Airport, reported a 0.2% decline in revenue in 1Q2011, while EBITDA rose 1.7%. Meanwhile, plans for a new privately-operated international airport along Mexico's Riviera Maya are moving forward, providing new competition for Cancun. After several years of delays in launching the project, bids are due this week for the concession to build and operate a new airport 120km south of Cancun International. See related report: Mexico's Riviera Maya airport project moves forward without ASUR

Shares in ASUR fell back yesterday, while rivals GAP and OMA were stronger.

Selected airport daily share price movements (% change): 26-Apr-2011