ASUR Announces that the FAA Classifies the Mexican Government as Category 2

Rhea-AI Summary

Grupo Aeroportuario del Sureste (ASUR) announced a significant regulatory update regarding the U.S. Federal Aviation Administration (FAA) downgrading the Mexican government's aviation safety rating from Category 2 to Category 1. This change could enhance ASUR's operational opportunities and international flight access. ASUR operates 16 airports across Mexico, the U.S., and Colombia, including key locations like Cancun Airport and Medellin International Airport. This FAA decision aligns with ASUR's growth strategy, potentially boosting its market performance.

Positive

• FAA downgraded Mexico to Category 1, improving operational prospects for ASUR.
• ASUR operates major airports in Mexico and Colombia, increasing market presence.

Negative

• None.

MEXICO CITY, May 26, 2021 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V.  (NYSE: ASR; BMV: ASUR) ("ASUR" or the "Company") ASUR, a leading international airport group with operations in Mexico, the U.S. and Colombia, per request of the Mexican National Banking and Securities Commission ("CNBV") today announced that the U.S. Federal Aviation Agency (FAA) has downgraded the Mexican Government to Category 1 from Category 2.

Click here to read the FAA Announcement. 

About ASUR

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain and develop 16 airports in the Americas. This comprises nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean and Latin America, and six airports in northern Colombia, including Medellin international airport (Rio Negro), the second busiest in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport serving the capital of Puerto Rico, San Juan. San Juan's Airport is the island's primary gateway for international and mainland-US destinations and was the first, and currently the only major airport in the US to have successfully completed a public–private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx

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SOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.

FAQ

What does the FAA's Category 1 designation mean for ASUR?

The FAA's Category 1 designation allows ASUR to improve operational opportunities and increase international flight access.

When was the FAA's decision regarding the Mexican government's aviation safety rating announced?

The FAA's decision was announced on May 26, 2021.

What airports does Grupo Aeroportuario del Sureste operate?

ASUR operates 16 airports, including Cancun Airport in Mexico and Medellin International Airport in Colombia.

How does the FAA's downgrade affect the operations of Grupo Aeroportuario del Sureste?

The downgrade to Category 1 enhances ASUR's operational capabilities and flight access, potentially leading to increased revenue.

What is the stock symbol for Grupo Aeroportuario del Sureste?

ASUR is the stock symbol for Grupo Aeroportuario del Sureste on the NYSE.