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ASUR Announces Total Passenger Traffic for May 2024

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Grupo Aeroportuario del Sureste (ASR) reported passenger traffic for May 2024 at 5.8 million, a 3.1% increase from May 2023. Colombia saw a 20.2% rise, driven by a 30.1% increase in international traffic and 17.8% in domestic traffic. Puerto Rico's traffic grew by 4.3%, with domestic and international traffic increasing by 3.1% and 15.4% respectively. However, Mexico experienced a 3.0% decline, with domestic and international traffic down by 4.6% and 1.3% respectively. Year-to-date, total traffic climbed by 7.2%, with a 0.3% rise in domestic traffic and a 19.0% surge in international traffic.

Positive
  • ASR's total passenger traffic increased by 3.1% year-on-year in May 2024.
  • Colombia's passenger traffic rose by 20.2%, with international traffic up 30.1% and domestic traffic up 17.8%.
  • Puerto Rico's passenger traffic grew by 4.3%, with increases of 3.1% in domestic traffic and 15.4% in international traffic.
  • Year-to-date, ASR's total passenger traffic increased by 7.2%, with a 19.0% rise in international traffic.
Negative
  • Mexico's passenger traffic declined by 3.0% in May 2024.
  • Domestic traffic in Mexico fell by 4.6% and international traffic dropped by 1.3%.
  • Cancun's passenger traffic decreased by 7.2% in May 2024.
  • Year-to-date, domestic traffic in Mexico decreased by 5.3%.

Insights

The latest passenger traffic update from ASUR reflects mixed results across its various regions of operation, with notable year-on-year increases in Colombia and Puerto Rico offset by a decline in Mexico. Specifically, Colombia experienced a substantial increase of 20.2% in passenger traffic, driven by a 30.1% rise in international traffic and a 17.8% increase in domestic traffic. In contrast, Mexico saw a decline of 3%, with domestic traffic falling by 4.6% and international traffic dipping 1.3%.

This data implies a shift in regional dynamics, which could impact ASUR's revenue streams and profitability. While the growth in Colombia and Puerto Rico is promising, the decline in Mexico, especially in key tourist spots like Cancun, could indicate potential challenges in the Mexican tourism sector or competition pressures. Investors should keep an eye on macroeconomic factors and travel trends that could further impact these numbers.

Additionally, the mixed results might affect ASUR's stock in the short term as market participants react to the geographic variances in performance. However, the overall year-to-date increase in total traffic by 7.2% suggests a generally positive trend, which could bode well for long-term growth if the company can address the issues in Mexico.

The data shows significant variability in passenger traffic across ASUR's operational regions. The sharp rise in Colombia, especially the 30.1% growth in international traffic, might be attributed to improved economic conditions, increased airline routes, or successful tourism campaigns. This increase is a positive indicator for the Colombian market, suggesting robust demand for both domestic and international travel.

Meanwhile, Puerto Rico's increase in international traffic by 15.4% could reflect a resurgence in tourism post-pandemic, aided by strategic marketing efforts or improved connectivity. Investors might find this growth appealing as it indicates a recovering and potentially robust travel market in Puerto Rico.

The decline in Mexico, particularly the 14.7% drop in Cancun's domestic traffic, is concerning. Cancun is a major travel hub and such a significant decline could point to deeper issues such as economic downturns, increased competition from other tourist destinations, or potential sociopolitical factors. For retail investors, it's important to understand these underlying reasons as they might influence ASUR's future performance and strategic adjustments.

Passenger traffic increased year-on-year by 20.2% in Colombia, 4.3% in Puerto Rico and declined 3.0% in Mexico

MEXICO CITY, June 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 May 2024 reached a total of 5.8 million passengers, representing an increase of 3.0% compared to May 2023.

Passenger traffic presented year-on-year increases of 20.2% in Colombia and 4.3% in Puerto Rico while traffic in Mexico declined 3.0%. Passenger traffic growth in Colombia was driven by increases of 30.1% in international traffic and 17.8% in domestic traffic. Puerto Rico also reported growth in both domestic and international traffic, up 3.1% and 15.4%, respectively. Mexico, however, presented declines of 4.6% and 1.3% in domestic and international traffic, respectively.

All figures in this statement reflect comparisons between the period from May 1 to May 31, 2024 and from May 1 to May 31, 2023. Passengers in transit and general aviation only for Mexico and Colombia.

Passenger Traffic Summary








May

% Chg


Year to date

% Chg

2023

2024


2023

2024

Mexico

3,444,746

3,341,200

(3.0)


17,125,475

18,332,807

7.0

Domestic Traffic

1,764,993

1,683,397

(4.6)


8,310,948

7,872,298

(5.3)

International Traffic

1,679,753

1,657,803

(1.3)


8,814,527

10,460,509

18.7

San Juan, Puerto Rico

1,089,726

1,136,672

4.3


4,942,566

5,433,398

9.9

Domestic Traffic

982,486

1,012,936

3.1


4,470,821

4,875,194

9.0

International Traffic

107,240

123,736

15.4


471,745

558,204

18.3

Colombia

1,141,261

1,371,343

20.2


6,110,779

6,454,261

5.6

Domestic Traffic

920,223

1,083,874

17.8


4,968,277

5,060,109

1.8

International Traffic

221,038

287,469

30.1


1,142,502

1,394,152

22.0

Total Traffic

5,675,733

5,849,215

3.1


28,178,820

30,220,466

7.2

Domestic Traffic

3,667,702

3,780,207

3.1


17,750,046

17,807,601

0.3

International Traffic

2,008,031

2,069,008

3.0


10,428,774

12,412,865

19.0

 

Mexico Passenger Traffic








May

% Chg


Year to date

% Chg

2023

2024


2023

2024

Domestic Traffic

1,764,993

1,683,397

(4.6)


8,310,948

7,872,298

(5.3)

CUN

Cancun

1,029,493

878,015

(14.7)


4,618,895

3,994,182

(13.5)

CZM

Cozumel

14,706

21,448

45.8


60,941

98,582

61.8

HUX

Huatulco

69,341

61,617

(11.1)


359,224

295,473

(17.7)

MID

Merida

266,946

264,893

(0.8)


1,356,104

1,329,587

(2.0)

MTT

Minatitlan

11,444

13,817

20.7


47,663

53,858

13.0

OAX

Oaxaca

101,994

124,267

21.8


552,545

623,940

12.9

TAP

Tapachula

40,995

52,097

27.1


205,617

252,268

22.7

VER

Veracruz

125,495

136,378

8.7


589,722

619,996

5.1

VSA

Villahermosa

104,579

130,865

25.1


520,237

604,412

16.2

International Traffic

1,679,753

1,657,803

(1.3)


8,814,527

10,460,509

18.7

CUN

Cancun

1,597,328

1,560,736

(2.3)


8,313,443

9,767,506

17.5

CZM

Cozumel

31,061

35,188

13.3


210,469

271,993

29.2

HUX

Huatulco

1,574

2,266

44.0


54,651

97,245

77.9

MID

Merida

23,778

26,342

10.8


103,590

157,169

51.7

MTT

Minatitlan

655

574

(12.4)


4,386

2,709

(38.2)

OAX

Oaxaca

14,958

17,717

18.4


75,771

92,634

22.3

TAP

Tapachula

1,040

792

(23.8)


5,218

5,381

3.1

VER

Veracruz

7,353

10,931

48.7


35,938

51,395

43.0

VSA

Villahermosa

2,006

3,257

62.4


11,061

14,477

30.9

Traffic Total Mexico

3,444,746

3,341,200

(3.0)


17,125,475

18,332,807

7.0

CUN

Cancun

2,626,821

2,438,751

(7.2)


12,932,338

13,761,688

6.4

CZM

Cozumel

45,767

56,636

23.7


271,410

370,575

36.5

HUX

Huatulco

70,915

63,883

(9.9)


413,875

392,718

(5.1)

MID

Merida

290,724

291,235

0.2


1,459,694

1,486,756

1.9

MTT

Minatitlan

12,099

14,391

18.9


52,049

56,567

8.7

OAX

Oaxaca

116,952

141,984

21.4


628,316

716,574

14.0

TAP

Tapachula

42,035

52,889

25.8


210,835

257,649

22.2

VER

Veracruz

132,848

147,309

10.9


625,660

671,391

7.3

VSA

Villahermosa

106,585

134,122

25.8


531,298

618,889

16.5

 

US Passenger Traffic, San Juan Airport (LMM)






May

% Chg


Year to date

% Chg

2023

2024


2023

2024

SJU Total

1,089,726

1,136,672

4.3


4,942,566

5,433,398

9.9

Domestic Traffic

982,486

1,012,936

3.1


4,470,821

4,875,194

9.0

International Traffic

107,240

123,736

15.4


471,745

558,204

18.3










Colombia Passenger Traffic Airplan








May

% Chg


Year to date

% Chg


2023

2024


2023

2024


Domestic Traffic

920,223

1,083,874

17.8


4,968,277

5,060,109

1.8


MDE

Rionegro

683,098

814,672

19.3


3,727,748

3,738,821

0.3


EOH

Medellin

96,933

102,058

5.3


465,666

502,468

7.9


MTR

Monteria

93,357

120,005

28.5


542,893

596,173

9.8


APO

Carepa

17,337

16,185

(6.6)


83,175

73,094

(12.1)


UIB

Quibdo

27,693

28,377

2.5


138,685

136,485

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FAQ

What was ASR's total passenger traffic in May 2024?

ASR's total passenger traffic in May 2024 was 5.8 million, a 3.1% increase from May 2023.

How did passenger traffic in Colombia change in May 2024?

Colombia's passenger traffic increased by 20.2% in May 2024, with international traffic up 30.1% and domestic traffic up 17.8%.

What was the change in passenger traffic for Puerto Rico in May 2024?

Puerto Rico's passenger traffic grew by 4.3% in May 2024, with domestic traffic up 3.1% and international traffic up 15.4%.

What was the change in passenger traffic for Mexico in May 2024?

Mexico's passenger traffic declined by 3.0% in May 2024, with domestic traffic down 4.6% and international traffic down 1.3%.

How has ASR's year-to-date passenger traffic changed in 2024?

ASR's year-to-date passenger traffic increased by 7.2% in 2024, with a 0.3% rise in domestic traffic and a 19.0% surge in international traffic.

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