Sureste Gets Boost From Nonaeronautical Services in 2Q; Maintaining FVE
In its second quarter, wide-moat Grupo Aeroportuario del Sureste generated 5% higher passenger traffic from its Mexican operations compared with last year, but passenger traffic slipped in Puerto Rico and Colombia by 6% and 4%, respectively. Total revenue climbed 32% mostly due to an accounting change for Puerto Rico operations, which are now fully consolidated into results. Nonaeronautical revenue in Mexico rose 15.2%, benefitting from 15.6% higher commercial revenue. Although the aftermath of ...Grupo Aeroportuario del Sureste holds concessions to operate, maintain and develop nine airports in the southeast region of Mexico. As operators of these airports, Co. charges airlines, passengers and other users fees for the use of the airports' facilities. Co. also derives rental and other income from commercial activities conducted at its airports, such as the leasing of space to restaurants and retailers. Co.'s concessions include the concession for Cancun International Airport, the airports in Cozumel, Huatulco, Merida, Minatitlan, Oaxaca, Tapachula, Veracruz and Villahermosa.
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