The private airport groups that operate in the country are heading towards having a year of losses, due to decisions and projects of the federal government that have impacted them, according to specialists.
At the end of November, the value of the shares of the airport groups of the Southeast (Asur) and Pacific (GAP) showed negative results, with falls of 13.3 and 6.8 percent each, compared to the beginning of the year. The above translates into losses in market value of 17,432 million pesos for Asur, led by Fernando Chico Pardo, and 8,506 million for GAP, headed by Laura Díez Barroso.
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Only North Central Airport Group (Oma) shows a positive trend, with a gain of 3.85 percent in the value of its shares so far this year, which translates into an increase of nearly two billion pesos in its market value.
However, the company he runs Ricardo Dueñas reflects a lower performance than that shown in the same period last year, when the value of its shares increased by more than 22 percent.
For sector specialists, this drop in the performance of airport groups has to do with government decisions such as the application of news Tariff Regulation Bases, announced in October. In that month, it was announced that the Airport Use Fee (TUA) would be reduced by 10 percent, however, the Chamber of Deputies approved a modification to the Federal Law of Rights that allows an increase in the rates paid for air terminal concessionsby going from five to nine percent of the dealer’s gross income.
For Eduardo López, analyst of the Ve por Más Financial Group (BX+)the fall in the value of the shares of these companies has mainly to do with this decision, which, he said, will have an economic impact on them.
“It has to do with the uncertainty that was generated from the changes in the tariff regulation announced by the authority. There was talk of reviewing the TUA drops, on the one hand, but also to increase the right that the government charges them for concession. That is mainly what has affected them,” she said.
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Carlos Torres, sector specialist, agreed that the effect of the modification on the Tariff Regulation Bases will make the airport groups a good amount of money for the uncertainty.
He added that, as has happened with other airports in the world, These companies had been showing better returns after the pandemicas in a rebound effect, but now tend towards a point of equilibriumwhich also is reflected in lower profits.