Mexico Airports Upgrade Infrastructure, Maintain Strong Margins

Private airport operators in Mexico, including ASUR, GAP, and OMA, have significantly invested in infrastructure to meet growing passenger demand, René Robles, director of Corporate Credit and Infrastructure Project Analysis, Moody’s Local Mexico, told A21. These investments have helped the airports maintain operational efficiency and financial stability.

“Over the past 16 years, passenger traffic has grown between 4.6% and 4.7% annually, nearly double the national GDP, supporting strong profitability across all three operators,” Robles said at the ‘Inside Latam: Mexico 2025’ event.

He highlighted the contribution of low-cost carriers, noting that budget airlines have opened air travel to new customers, boosting airport revenues and producing operating margins of 60% to 70%.

Private airport groups submit a Master Development Program (PMD) every five years, detailing capital needs and demand projections. These plans help the government approve tariffs and ensure infrastructure upgrades. Notable projects include Monterrey Airport’s second terminal, a new terminal in Guadalajara, and Tijuana’s Cross Border Xpress.

Despite challenges in 2024, when Airbus inspections grounded Volaris and Viva aircraft, airport operators remain financially resilient. “Passenger volumes in early 2025 are strong, confirming the sector’s continued growth,” Robles said.