Mexico Slashes 2027 Mega-Project Budgets; AIFA Reaches Profit

President Claudia Sheinbaum’s administration has proposed significant budget adjustments for key infrastructure projects initiated under former President Andrés Manuel López, according to the 2027 Economic Package and Expenditure Budget Project (PPEF) submitted by the Ministry of Finance.

Under the proposed 2027 fiscal plan, funding allocations for major state-run enterprise projects, including the Felipe Ángeles International Airport (AIFA), the Maya Train, and the state-owned airline Mexicana de Aviación, will experience spending reductions ranging between 29% and 41%. Conversely, the Isthmus of Tehuantepec Railroad represents the sole major project slated for an increase, with its funding set to rise 7% to MX$25.546 billion (US$1.513 billion).

The fiscal adjustments reflect shifting financial trajectories across military-controlled state enterprises, highlighted by AIFA reaching commercial self-sufficiency. Located at the Santa Lucía Air Base, the civil-military facility has become the only state-owned enterprise managed by the Armed Forces to cross its break-even point and operate at a commercial profit.

According to financial state records, AIFA generates MX$3.2 million (US$189,547) in daily profits, reporting net earnings of MX$581 million (US$34,176,471) during the first half of the year. During that same initial six-month period, state subsidies totaled MX$273 million (US$16.17 million), a reduction compared to support received in prior fiscal years.

For the 2027 fiscal year, the Ministry of Finance projects AIFA will generate over MX$2.2 billion (US$130.31 million) in revenue, alongside an initial resource availability exceeding MX$3.6 billion (US$213.24 million). While the main budget project document indicates AIFA will receive an allocation of MX$2.43 billion (US$143.94 million), a 29% reduction compared to the previous period, projections within the expenditure plan outline a transition where the airport will no longer require treasury funds for operational costs due to its internal profitability.

AIFA’s operational growth has been driven by the mandatory transfer of cargo flights from Mexico City International Airport (AICM) to the Santa Lucía terminal, paired with steady domestic passenger traffic. Operational connectivity was further enhanced by the launch of the Felipe Ángeles Train, which links Mexico City directly to the terminal in Zumpango, optimizing transit times for passengers.

Despite these domestic gains, AIFA faces operational limitations in expanding its international network. The airport has been unable to add flights to and from the United States due to restrictions imposed by the administration of President Donald Trump, constraining its penetration into the cross-border market.

Other mega-projects faced notable reductions in the 2027 proposal:

• The Maya Train: Slated to receive MX$19.27 billion (US$1.141 billion), representing a 39% decrease from the MX$32 billion (US$1.895 billion) allocated in 2026. Enabling freight infrastructure to transport food and general raw materials remains an outstanding objective for the rail system.
• Mexicana de Aviación: Scheduled for a 41% budget reduction, bringing its allocation to US$1.012 billion (US$59.94 million). The state airline was established to expand air connectivity to underserved domestic destinations and broaden public access to air transit.