Mexico’s CJNG Violence Halts Flights, Erases MX$28 Billion

Mexico’s financial and operational sectors faced significant disruptions on Feb. 22 following the killing of Nemesio Oseguera, alias “El Mencho,” leader of the Cártel Jalisco Nueva Generación (CJNG). A coordinated wave of violent unrest, including blockades and attacks on commercial sites, led to the suspension of hundreds of flights and caused airport and airline stocks to lose more than MX$28 billion (US$1.63 billion) in market value in a single day, while retail chains implemented emergency closures in affected regions.

Authorities reported 252 blockades across 20 states in response to Oseguera’s death. The events forced the cancellation of nearly 300 flights and prompted several airlines to temporarily suspend operations at key airports in Guadalajara, Puerto Vallarta and Tepic. 

The impact on Mexico’s stock market was immediate. Grupo Aeroportuario del Pacífico (GAP), which operates Guadalajara, Puerto Vallarta and Manzanillo airports, recorded the largest single-day loss in market capitalization, approximately MX$15.7 billion (US$909.7 million), as its shares fell 6% to MX$482.94 (US$28) per share. Grupo Aeroportuario del Sureste (Asur), operator of Cancun and other airports, saw its shares decline 3% to MX$629.01 (US$36.63), erasing roughly MX$5.9 billion (US$342 million) in market value. Grupo Aeroportuario del Centro Norte (OMA), which manages Reynosa and other terminals, lost MX$2.5 billion (US$144.8 million) in market capitalization after a 2% drop to MX$281.56 (US$16.40) per share.

Airlines were similarly affected. Aeroméxico shares fell 10% between Feb. 20 and the close of trading on Feb. 22, representing a loss of approximately MX$2.7 billion (US$156.4 million) in market capitalization. Volaris stock declined 7% over the same period, wiping out roughly MX$1.4 billion (US$81.1 million) in value. Financial analysts noted that these declines reflect the sector’s heightened sensitivity to security-related disruptions, particularly in destinations critical to domestic and international tourism flows.

“The economic impact of the violence has shifted from a latent risk to a direct operational disruption,” said Felipe Mendoza, analyst, EBC Financial Group. He emphasized that the blockades and suspension of both air and land transport “directly affect the tourism and services sectors — pillars of GDP — and significantly increase risk perception for the country.”

Analysts stressed that the unrest directly undermined both operational continuity and investor confidence. “The blockades in at least seven states, leading to the suspension of domestic and international flights, as well as interruptions in ground transportation, illustrate the fragility of operational networks when exposed to security shocks,” Mendoza said.