AMLO Wins as Expected and Was Already Baked Into Our Mexican Airport Valuations
Mexicans have elected Andrés Manuel López Obrador, or AMLO, as their next president in a landslide victory in which AMLO won just over 53% of the vote; he will take office Dec. 1, 2018. AMLO campaigned as a populist but based on his tenure as mayor of Mexico City, we think he will turn out to be a moderate in many areas. That said, we do believe Mexican policy vis-à -vis the energy sector and trade with the U.S. will change significantly. But we don’t see an AMLO administration touching the airpo...Grupo Aeroportuario del Pacifico operates concessions to operate one international airport in Jamaica and twelve airports, which serve two major metropolitan areas (Guadalajara and Tijuana), several tourist destinations (Puerto Vallarta, Los Cabos, La Paz and Manzanillo), and a number of mid-sized cities (Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis). All of Co.'s airports are equipped to receive international flights and maintain customs, refueling and immigration services by the Mexican government. Also, Co. leases space to restaurants and retailers at its airports. In 2016, Co.'s airports served a total of approximately 32.6 million terminal passengers.
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