Mexican airport operators are posting some of the country’s best stock returns as air travel surges to a record, bolstered by cheap fuel, a domestic consumption boom and currency shifts that entice dollar-wielding foreign tourists, according to Bloomberg.
The peso’s drop against the greenback has made it easier for U.S. tourists to afford sun-drenched holidays amid Mexico’s warm waters and soft sands. Domestic ticket sales are also increasing as discount carriers chop fares, increase flights and add new destinations in a bid to coax travelers onto modern jetliners instead of long-haul buses.
Rising passenger loads swell the coffers of Mexico’s three airport operators — nicknamed OMA, GAP Airports and Asur — because the companies receive a slice of a fee that’s paid by every customer buying an airline ticket. The number of fliers climbed by about half in five years to a record 74.8 million in 2015, according to government data, and Mexico’s on track to set an all-time high this year.
“Every time someone buys an airplane ticket, the airport operators’ cash register rings,” Marco Montanez, an analyst at Vector Casa de Bolsa who recommends buying shares in all three airport companies, said by telephone. Every five years, the operators negotiate with the government the possibility of raising the fees based on the companies’ planned infrastructure investments, Montanez said.
more recommended stories
Yucatan was elected venue for the third edition of Travel Po Up
Yucatán was chosen as the venue.
Great vaquería is carried out in Kanasín in honor of San Isidro Labrador
With the start of the great.
Homicide suspect arrested in Tizimín tried to run over an agent
An individual in Tizimín tried to.
SSP firefighters put out a fire in Valladolid municipal dump
Firefighters from the Ministry of Public.
SSY reports 40 new infections by Covid in Yucatan
From Monday 16 and until Thursday,.
Valet parking worker gets shot at Tulum restaurant
A valet parking worker was shot.
Protesters show up at informative public meeting regarding the Maya Train Project in Mérida
On Friday, May 13th, civil groups,.
Renán Barrera seeks to attract projects from countries members of the European Community
“The best way to promote economic.
Homicides and extortions unstoppable in Acapulco, Mexico
With information from Alina Navarrete Fernández/Correspondent / Latinus.
Tragedy in Tixpéhual, Yucatan; once again a young man takes his own life in this town
On Wednesday, May 11th, a 24-year-old.