Despite Natural Disasters, Our Long-Term Forecasts Are Intact for Mexican Airport Groups
Recent hurricanes and a Sept. 19 earthquake in Mexico have caused a great amount of infrastructure damage. However, we believe the impact on the three wide-moat Mexican airport groups we cover is transitory, and we do not plan to alter our fair value estimates. Our P/FVE for Centro Norte, Pacifico, and Sureste sit at 0.83, 0.90, and 0.90, respectively.The Mexico City airport hosts more than 41 million passengers annually and while it is not managed by any of the three airport groups we cover, t...
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