International airport group Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR) (BMV: ASUR) has announced it has received approval from the Mexican Department of Communications and Transportation for the Master Development Programs for each of its Mexican concessions for the years 2019 through 2033, the company said.
The company received approval for the maximum tariffs per workload unit applicable for the years 2019 through 2023 and the corresponding efficiency factor. One workload unit is equivalent to one passenger or 100 kilograms of cargo.
The concession agreements for each airport provide that the maximum tariff for such airport must be reduced on an annual basis to account for projected improvements in efficiency. For the five-year period ending December 31st, 2023, the maximum tariffs applicable to ASUR´s airports will be reduced by an annual efficiency factor of 0.70% in real terms.
Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with operations in Mexico, the U.S. and Colombia. The company has a portfolio of concessions to operate, maintain and develop 16 airports in the Americas.