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, operator of nine Mexican airports, reported a 2.4% fall in 1Q2011 net profit due to a decline in passenger numbers.
- The decline in traffic was attributed to the later timing of Easter this year.
- ASUR reported a 0.2% decline in revenue in 1Q2011, while EBITDA rose 1.7%.
- Plans for a new privately-operated international airport along Mexico's Riviera Maya are progressing, posing new competition for Cancun Airport.
- Bids are due this week for the concession to build and operate the new airport.
- Shares in ASUR fell, while rivals GAP and OMA experienced stronger performance.
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
