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
Chiapas municipal official kidnapped by villagers
Again in Chiapas, a group of.
“White syndrome” even more catastrophic than sargassum in Quintana Roo
“In the short term, the white.
Hundreds of migrants placed at detention center in Tapachula, Chiapas
TAPACHULA, Mexico (AP) — Hundreds of.
More Americans are seeking medical treatment south of the border
When Veronica Merrill decided to undergo.
Come to Rio Lagartos, Yucatan and enjoy the 2nd Octopus Festival
On the windy northern shore of.
More than a dozen police killed in ambush in Michoacán
More than a dozen police have.
Another serious case of animal cruelty in Kanasin that goes unpunished
The municipality of Kanasín is once.
Lunar Serpent of Chichén Itzá captured for the first time
The Castle of Chichén Itzá registered.
Yucatán strengthen ties with the the Socialist Republic of Vietnam
On Friday October 11th, the LXII.
Moody’s praises corporate governance and administration policies in Yucatán
International rating agency Moody’s praises the.