ASUR Announces Total Passenger Traffic for January 2024

Rhea-AI Summary

Grupo Aeroportuario del Sureste (ASR) reports a 0.5% increase in passenger traffic for January 2024, with a 2.6% increase in Mexico and an 8.2% increase in Puerto Rico. However, passenger traffic in Colombia decreased by 10.1%. International traffic growth in Mexico and Puerto Rico drove the increases, while domestic traffic faced declines. The suspension of operations of two local airlines in Colombia negatively impacted domestic traffic. A total of 6.3 million passengers were served in January 2024.

Positive

• Year-on-year increases of 2.6% in Mexico and 8.2% in Puerto Rico
• International traffic increase of 6.3% in Mexico and 23.1% in Puerto Rico
• Total passenger traffic reached 6.3 million in January 2024
• Suspension of operations of two local airlines in Colombia negatively impacted domestic traffic

Negative

• 10.1% decrease in passenger traffic in Colombia
• 2.2% decrease in domestic traffic in Mexico

Insights

Market Research Analyst

The reported changes in passenger traffic have direct implications for airport revenues and, by extension, the financial performance of Grupo Aeroportuario del Sureste (ASUR). The overall marginal increase of 0.5% in passenger volume may seem modest but is significant when considering the scale of operations. The growth in international traffic, particularly the notable 23.1% increase in Puerto Rico, suggests a robust demand for international travel which could be indicative of broader economic trends such as recovering tourism sectors post-pandemic.

The decline in Colombian domestic traffic by 10.1% is concerning, as it may reflect ongoing challenges in the local aviation market, such as the suspension of operations by two airlines. This contraction could signal underlying economic issues or competitive dynamics that may require strategic adjustments by ASUR to maintain profitability in that region. The disparity between domestic and international traffic growth rates within these geographies is also a point of interest, as it could influence future investment and operational decisions by the company.

Financial Analyst

From a financial perspective, ASUR's performance in different regions can have asymmetric effects on its revenue streams. The increase in international traffic in Mexico and Puerto Rico is likely to contribute positively to the company's top-line growth due to higher revenue per passenger typically associated with international flights. This is compounded by the fact that international passengers often generate greater ancillary revenues from duty-free shopping, dining and other airport services.

Conversely, the decline in Colombian traffic poses a risk to revenue and could impact ASUR's profitability if not offset by cost management or other revenue sources. Investors should monitor how ASUR addresses these regional disparities and whether it can leverage its diversified portfolio to mitigate risks. The data provided could also inform analysts' projections for future quarters, influencing stock valuations and investment decisions.

Aviation Industry Consultant

The aviation industry is highly sensitive to macroeconomic factors, regulatory changes and competitive landscapes. The significant increase in international traffic in Puerto Rico could be attributed to strategic route development, marketing efforts, or shifts in consumer travel preferences. Understanding the drivers behind these changes is crucial for ASUR's strategic planning and competitive positioning.

Additionally, the stark contrast in performance between domestic and international sectors within ASUR's markets highlights the importance of a balanced portfolio. The company may need to explore new partnerships, adjust pricing strategies, or invest in market-specific promotions to stimulate growth in underperforming segments. The data also underscores the importance of operational resilience in the face of industry volatility, such as the impact of airline suspensions in Colombia on domestic traffic.

Passenger traffic increased year-on-year by 2.6% in Mexico and 8.2% in Puerto Rico, and decreased 10.1% in Colombia

MEXICO CITY, Feb. 6, 2024 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR), ASUR, a leading international airport group with operations in Mexico, the U.S. and Colombia, today announced that passenger traffic for January 2024 reached a total of 6.3 million passengers, representing an increase of 0.5% compared to January 2023.

Passenger traffic presented year-on-year increases of 2.6% in Mexico and 8.2% in Puerto Rico, while it decreased 10.1% in Colombia. Passenger traffic growth in Mexico and Puerto Rico was driven primarily by increased international traffic of 6.3% and 23.1%, respectively, while domestic traffic decreased 2.2% in Mexico and increased 6.7% in Puerto Rico. Passenger traffic in Colombia remained negatively affected by the suspension of operations of two local airlines in the beginning of 2023 which resulted in a 14.1% decline in domestic traffic while international traffic increased 6.6% year-on-year.

This announcement reflects comparisons between the periods January 1 through January 31, 2024 and 2023. Transit and general aviation passengers are excluded from traffic measures in Mexico and Colombia.

Passenger Traffic Summary
	January		% Chg		Year to date		% Chg
	2023	2024			2023	2024
Mexico	3,774,707	3,871,735	2.6		3,774,707	3,871,735	2.6
Domestic Traffic	1,658,897	1,623,154	(2.2)		1,658,897	1,623,154	(2.2)
International Traffic	2,115,810	2,248,581	6.3		2,115,810	2,248,581	6.3
San Juan, Puerto Rico	1,028,927	1,113,130	8.2		1,028,927	1,113,130	8.2
Domestic Traffic	938,226	1,001,458	6.7		938,226	1,001,458	6.7
International Traffic	90,701	111,672	23.1		90,701	111,672	23.1
Colombia	1,480,990	1,331,781	(10.1)		1,480,990	1,331,781	(10.1)
Domestic Traffic	1,190,799	1,022,491	(14.1)		1,190,799	1,022,491	(14.1)
International Traffic	290,191	309,290	6.6		290,191	309,290	6.6
Total Traffic	6,284,624	6,316,646	0.5		6,284,624	6,316,646	0.5
Domestic Traffic	3,787,922	3,647,103	(3.7)		3,787,922	3,647,103	(3.7)
International Traffic	2,496,702	2,669,543	6.9		2,496,702	2,669,543	6.9

 

Mexico Passenger Traffic
		January		% Chg		Year to date		% Chg
		2023	2024			2023	2024
Domestic Traffic		1,658,897	1,623,154	(2.2)		1,658,897	1,623,154	(2.2)
CUN	Cancun	914,893	824,158	(9.9)		914,893	824,158	(9.9)
CZM	Cozumel	10,916	21,480	96.8		10,916	21,480	96.8
HUX	Huatulco	78,013	62,452	(19.9)		78,013	62,452	(19.9)
MID	Merida	274,343	277,692	1.2		274,343	277,692	1.2
MTT	Minatitlan	8,840	9,880	11.8		8,840	9,880	11.8
OAX	Oaxaca	115,316	129,093	11.9		115,316	129,093	11.9
TAP	Tapachula	39,936	54,107	35.5		39,936	54,107	35.5
VER	Veracruz	112,475	122,446	8.9		112,475	122,446	8.9
VSA	Villahermosa	104,165	121,846	17.0		104,165	121,846	17.0
International Traffic		2,115,810	2,248,581	6.3		2,115,810	2,248,581	6.3
CUN	Cancun	1,982,951	2,096,243	5.7		1,982,951	2,096,243	5.7
CZM	Cozumel	49,978	56,198	12.4		49,978	56,198	12.4
HUX	Huatulco	18,998	26,230	38.1		18,998	26,230	38.1
MID	Merida	29,862	31,572	5.7		29,862	31,572	5.7
MTT	Minatitlan	827	674	(18.5)		827	674	(18.5)
OAX	Oaxaca	20,403	21,479	5.3		20,403	21,479	5.3
TAP	Tapachula	1,743	1,718	(1.4)		1,743	1,718	(1.4)
VER	Veracruz	8,719	11,387	30.6		8,719	11,387	30.6
VSA	Villahermosa	2,329	3,080	32.2		2,329	3,080	32.2
Traffic Total Mexico		3,774,707	3,871,735	2.6		3,774,707	3,871,735	2.6
CUN	Cancun	2,897,844	2,920,401	0.8		2,897,844	2,920,401	0.8
CZM	Cozumel	60,894	77,678	27.6		60,894	77,678	27.6
HUX	Huatulco	97,011	88,682	(8.6)		97,011	88,682	(8.6)
MID	Merida	304,205	309,264	1.7		304,205	309,264	1.7
MTT	Minatitlan	9,667	10,554	9.2		9,667	10,554	9.2
OAX	Oaxaca	135,719	150,572	10.9		135,719	150,572	10.9
TAP	Tapachula	41,679	55,825	33.9		41,679	55,825	33.9
VER	Veracruz	121,194	133,833	10.4		121,194	133,833	10.4
VSA	Villahermosa	106,494	124,926	17.3		106,494	124,926	17.3

 

US Passenger Traffic, San Juan Airport (LMM)
		January					% Chg		Year to date				% Chg
		2023			2024				2023	2024
SJU Total		1,028,927			1,113,130		8.2		1,028,927	1,113,130			8.2
Domestic Traffic		938,226			1,001,458		6.7		938,226	1,001,458			6.7
International Traffic		90,701			111,672		23.1		90,701	111,672			23.1

 

Colombia Passenger Traffic Airplan
			January						Year to date			% Chg
			2023	2024					January		% Chg
Domestic Traffic			1,190,799	1,022,491		(14.1)			1,190,799		1,022,491	(14.1)
MDE	Rionegro		901,816	729,213		(19.1)			901,816		729,213	(19.1)
EOH	Medellin		97,087	112,847		16.2			97,087		112,847	16.2
MTR	Monteria		141,185	133,081		(5.7)			141,185		133,081	(5.7)
APO	Carepa		16,048	13,441		(16.2)			16,048		13,441	(16.2)
UIB	Quibdo		31,813	30,495		(4.1)			31,813		30,495	(4.1)
CZU	Corozal		2,850	3,414		19.8			2,850		3,414	19.8
International Traffic			290,191	309,290		6.6			290,191		309,290	6.6
MDE	Rionegro		290,191	309,290		6.6			290,191		309,290	6.6
EOH	Medellin
MTR	Monteria		-	-					-		-
APO	Carepa		-	-					-		-
UIB	Quibdo		-	-					-		-
CZU	Corozal		-	-					-		-
Traffic Total Colombia			1,480,990	1,331,781		(10.1)			1,480,990		1,331,781	(10.1)
MDE	Rionegro		1,192,007	1,038,503		(12.9)			1,192,007		1,038,503	(12.9)
EOH	Medellin		97,087	112,847		16.2			97,087		112,847	16.2
MTR	Monteria		141,185	133,081		(5.7)			141,185		133,081	(5.7)
APO	Carepa		16,048	13,441		(16.2)			16,048		13,441	(16.2)
UIB	Quibdo		31,813	30,495		(4.1)			31,813		30,495	(4.1)
CZU	Corozal		2,850	3,414		19.8			2,850		3,414	19.8

 

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 was the percentage increase in passenger traffic in Puerto Rico?

Passenger traffic in Puerto Rico increased by 8.2%.

How much did passenger traffic decrease in Colombia?

Passenger traffic in Colombia decreased by 10.1%.

How many passengers were served in January 2024?

A total of 6.3 million passengers were served in January 2024.

What caused the decline in passenger traffic in Colombia?

The suspension of operations of two local airlines in Colombia negatively impacted domestic traffic.