AICM 2026 Improvements Aim at Service, Not Capacity: Moody’s

Moody’s Ratings emphasized that investments announced for Mexico City International Airport (AICM) ahead of the 2026 World Cup aim to enhance passenger experience and services, not expand terminal capacity. Diego González, Moody’s vice president and analyst, told A21 that AICM will remain critical for the metropolitan area.

“There is no alternative in the city; the airport will continue to serve as the region’s primary hub,” he said, noting that neither Toluca nor Felipe Ángeles airports can fully absorb AICM’s traffic.

Revenue from the Airport Use Fee (TUA), currently directed toward bonds issued for the never-built Texcoco project, could eventually fund larger-scale improvements. Moody’s reports four outstanding bond issuances, with maturities in 2026 and 2028 totaling roughly US$560 million.

Despite operational restrictions introduced last year, passenger traffic has remained at 45 million annually, exceeding Moody’s initial projections. González added that while slots could eventually rise from 44 to 61 per hour, no increase is expected before the World Cup, with traffic projected at 46 million next year.

Investments will primarily improve services rather than expand capacity, limiting their overall impact, he noted.