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ASUR Announces Total Passenger Traffic for June 2024

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Grupo Aeroportuario del Sureste (NYSE: ASR; BMV: ASUR) announced June 2024 passenger traffic data. The total passenger traffic reached 6.1 million, a 3.8% increase from June 2023. Year-on-year, Colombia saw a 24.5% rise, Puerto Rico an 11.6% rise, but Mexico experienced a 5.5% decline. In Colombia, international traffic spiked by 33.1%, and domestic traffic rose by 22.3%. Puerto Rico's growth was fueled by a 10.9% increase in domestic and a 16.1% rise in international traffic. However, Mexico's domestic traffic fell by 5.7%, and international traffic decreased by 5.2%. Year-to-date, Mexico's passenger traffic slightly decreased by 0.4%, while Colombia and Puerto Rico showed year-to-date growth of 8.6% and 10.2%, respectively.

Positive
  • Total passenger traffic rose by 3.8% year-on-year to 6.1 million in June 2024.
  • Colombia's passenger traffic surged by 24.5%, supported by a 33.1% increase in international and 22.3% in domestic traffic.
  • Puerto Rico's passenger traffic grew by 11.6%, with domestic and international traffic up by 10.9% and 16.1%, respectively.
Negative
  • Mexico's passenger traffic declined by 5.5% in June 2024.
  • Domestic traffic in Mexico fell by 5.7%, and international traffic decreased by 5.2%.
  • Year-to-date traffic in Mexico slightly decreased by 0.4%.

Insights

The latest passenger traffic data from ASUR shows a mixed performance across different geographies. On one hand, there is significant growth in Colombian and Puerto Rican markets, with a year-on-year increase of 24.5% and 11.6% respectively. In Colombia, the substantial increases in both domestic and international traffic, especially the 33.1% rise in international traffic, indicate a robust recovery and growing airline capacity in the region. Puerto Rico's international traffic growth of 16.1% also points to increased connectivity and potentially higher tourist inflows.

However, the decline in Mexico's traffic by 5.5% is concerning, especially considering the country's pivotal role in ASUR's overall portfolio. Both domestic and international traffic falls, at 5.7% and 5.2% respectively, may indicate macroeconomic challenges, reduced tourism demand, or competitive pressures. This drop in Cancun, a major tourist destination, by 8.3% in total traffic, could suggest larger underlying issues.

Overall, the geographic disparity could lead to uneven revenue growth, with strong performance in some regions compensating for declines in others. Retail investors should be aware of these region-specific trends and their potential impact on ASUR's overall financial performance.

From a financial perspective, ASUR's 3.8% overall increase in passenger traffic is a positive indicator, albeit with mixed signals from its different markets. Colombia's strong recovery, marked by 24.5% growth and Puerto Rico's 11.6% increase, suggest potential revenue boosts from these territories. It's important to note that higher passenger volumes typically translate into increased non-aeronautical revenues, such as retail and concession sales at airports.

The decline in Mexico, however, could hurt short-term revenues, particularly given the country's significant contribution to ASUR's portfolio. The 5.5% drop in Mexican passenger traffic could signal economic headwinds or reduced travel demand, impacting revenue from landing fees and passenger charges. Cancun's 8.3% decline, a key hub, might reflect broader challenges or seasonality effects.

For retail investors, it's important to monitor how these dynamics influence ASUR's upcoming quarterly earnings. While the boost in other regions is promising, the slump in Mexico necessitates a cautious outlook. Consistent growth and recovery in international traffic are essential for long-term financial stability.

Passenger traffic increased year-on-year by 24.5% in Colombia and 11.6% in Puerto Rico, and declined 5.5% in Mexico

MEXICO CITY, July 8, 2024 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V.  (NYSE: ASR; BMV: ASUR), ASUR, a leading international airport group with operations in Mexico, the U.S. and Colombia, today announced that passenger traffic for June 2024 reached a total of 6.1 million passengers, representing an increase of 3.8% compared to June 2023.

Passenger traffic presented year-on-year increases of 24.5% in Colombia and 11.6% in Puerto Rico while traffic in Mexico declined 5.5%. Passenger traffic growth in Colombia was driven by increases of 33.1% in international traffic and 22.3% in domestic traffic. Puerto Rico also reported growth in both domestic and international traffic, up 10.9% and 16.1%, respectively. Mexico, however, presented declines of 5.7% and 5.2% in domestic and international traffic, respectively.

All figures in this statement reflect comparisons between the period from June 1 to June 30, 2024 and from June 1 to June 30, 2023. Passengers in transit and general aviation only for Mexico and Colombia.

Passenger Traffic Summary








June

% Chg


Year to date

% Chg

2023

2024


2023

2024

Mexico

3,550,943

3,357,243

(5.5)


21,771,122

21,690,050

(0.4)

Domestic Traffic

1,738,476

1,639,792

(5.7)


10,049,424

9,512,090

(5.3)

International Traffic

1,812,467

1,717,451

(5.2)


11,721,698

12,177,960

3.9

San Juan, Puerto Rico

1,163,331

1,297,862

11.6


6,105,897

6,731,260

10.2

Domestic Traffic

1,021,934

1,133,730

10.9


5,492,755

6,008,924

9.4

International Traffic

141,397

164,132

16.1


613,142

722,336

17.8

Colombia

1,164,149

1,448,982

24.5


7,274,928

7,903,243

8.6

Domestic Traffic

930,903

1,138,556

22.3


5,899,180

6,198,665

5.1

International Traffic

233,246

310,426

33.1


1,375,748

1,704,578

23.9

Total Traffic

5,878,423

6,104,087

3.8


35,151,947

36,324,553

3.3

Domestic Traffic

3,691,313

3,912,078

6.0


21,441,359

21,719,679

1.3

International Traffic

2,187,110

2,192,009

0.2


13,710,588

14,604,874

6.5

 

Mexico Passenger Traffic








June

% Chg


Year to date

% Chg

2023

2024


2023

2024

Domestic Traffic

1,738,476

1,639,792

(5.7)


10,049,424

9,512,090

(5.3)

CUN

Cancun

984,167

870,730

(11.5)


5,603,062

4,864,912

(13.2)

CZM

Cozumel

16,986

20,142

18.6


77,927

118,724

52.4

HUX

Huatulco

67,073

60,673

(9.5)


426,297

356,146

(16.5)

MID

Merida

256,635

269,315

4.9


1,612,739

1,598,902

(0.9)

MTT

Minatitlan

12,049

12,912

7.2


59,712

66,770

11.8

OAX

Oaxaca

111,853

117,346

4.9


664,398

741,286

11.6

TAP

Tapachula

41,525

47,160

13.6


247,142

299,428

21.2

VER

Veracruz

134,691

127,038

(5.7)


724,413

747,034

3.1

VSA

Villahermosa

113,497

114,476

0.9


633,734

718,888

13.4

International Traffic

1,812,467

1,717,451

(5.2)


11,721,698

12,177,960

3.9

CUN

Cancun

1,717,484

1,606,132

(6.5)


11,035,502

11,373,638

3.1

CZM

Cozumel

38,859

37,157

(4.4)


267,601

309,150

15.5

HUX

Huatulco

2,243

2,660

18.6


75,107

99,905

33.0

MID

Merida

24,942

31,427

26.0


169,099

188,596

11.5

MTT

Minatitlan

638

685

7.4


3,948

3,394

(14.0)

OAX

Oaxaca

16,572

22,764

37.4


101,632

115,398

13.5

TAP

Tapachula

1,378

1,069

(22.4)


9,443

6,450

(31.7)

VER

Veracruz

8,154

13,061

60.2


46,331

64,456

39.1

VSA

Villahermosa

2,197

2,496

13.6


13,035

16,973

30.2

Traffic Total Mexico

3,550,943

3,357,243

(5.5)


21,771,122

21,690,050

(0.4)

CUN

Cancun

2,701,651

2,476,862

(8.3)


16,638,564

16,238,550

(2.4)

CZM

Cozumel

55,845

57,299

2.6


345,528

427,874

23.8

HUX

Huatulco

69,316

63,333

(8.6)


501,404

456,051

(9.0)

MID

Merida

281,577

300,742

6.8


1,781,838

1,787,498

0.3

MTT

Minatitlan

12,687

13,597

7.2


63,660

70,164

10.2

OAX

Oaxaca

128,425

140,110

9.1


766,030

856,684

11.8

TAP

Tapachula

42,903

48,229

12.4


256,585

305,878

19.2

VER

Veracruz

142,845

140,099

(1.9)


770,744

811,490

5.3

VSA

Villahermosa

115,694

116,972

1.1


646,769

735,861

13.8

 

US Passenger Traffic, San Juan Airport (LMM)






June

% Chg


Year to date

% Chg

2023

2024


2023

2024

SJU Total

1,163,331

1,297,862

11.6


6,105,897

6,731,260

10.2

Domestic Traffic

1,021,934

1,133,730

10.9


5,492,755

6,008,924

9.4

International Traffic

141,397

164,132

16.1


613,142

722,336

17.8

 

Colombia Passenger Traffic Airplan







June

% Chg


Year to date

% Chg

2023

2024


2023

2024

Domestic Traffic

930,903

1,138,556

22.3


5,899,180

6,198,665

5.1

MDE

Rionegro

680,518

869,419

27.8


4,408,266

4,608,240

4.5

EOH

Medellin

103,276

96,402

(6.7)


568,942

598,870

5.3

MTR

Monteria

94,926

125,222

31.9


637,819

721,395

13.1

APO

Carepa

17,666

14,555

(17.6)


100,841

87,649

(13.1)

UIB

Quibdo

32,630

30,076

(7.8)


171,315

166,561

(2.8)

CZU

Corozal

1,887

2,882

52.7


11,997

15,950

32.9

International Traffic

233,246

310,426

33.1


1,375,748

1,704,578

23.9

MDE

Rionegro

233,246

310,426

33.1


1,375,748

1,704,578

23.9

EOH

Medellin








MTR

Monteria

-

-



-

-


APO

Carepa

-

-



-

-


UIB

Quibdo

-

-



-

-


CZU

Corozal

-

-



-

-


Traffic Total Colombia

1,164,149

1,448,982

24.5


7,274,928

7,903,243

8.6

MDE

Rionegro

913,764

1,179,845

29.1


5,784,014

6,312,818

9.1

EOH

Medellin

103,276

96,402

(6.7)


568,942

598,870

5.3

MTR

Monteria

94,926

125,222

31.9


637,819

721,395

13.1

APO

Carepa

17,666

14,555

(17.6)


100,841

87,649

(13.1)

UIB

Quibdo

32,630

30,076

(7.8)


171,315

166,561

(2.8)

CZU

Corozal

1,887

2,882

52.7


11,997

15,950

32.9

 

About ASUR
Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain and develop 16 airports in the Americas. This comprises nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean and Latin America, and six airports in northern Colombia, including Medellin international airport (Rio Negro), the second busiest in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport serving the capital of Puerto Rico, San Juan. San Juan's Airport is the island's primary gateway for international and mainland-US destinations and was the first, and currently the only major airport in the US to have successfully completed a public–private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx.

Cision View original content:https://www.prnewswire.com/news-releases/asur-announces-total-passenger-traffic-for-june-2024-302191175.html

SOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.

FAQ

What is the total passenger traffic for ASUR in June 2024?

The total passenger traffic for ASUR in June 2024 was 6.1 million, a 3.8% increase from June 2023.

How much did passenger traffic increase in Colombia for ASUR in June 2024?

In June 2024, ASUR's passenger traffic in Colombia increased by 24.5% year-on-year.

What was the passenger traffic change in Puerto Rico for ASUR in June 2024?

ASUR's passenger traffic in Puerto Rico grew by 11.6% in June 2024 compared to the previous year.

Did passenger traffic in Mexico increase or decrease for ASUR in June 2024?

Passenger traffic in Mexico decreased by 5.5% for ASUR in June 2024.

What were the year-to-date passenger traffic trends for ASUR in Mexico as of June 2024?

Year-to-date, passenger traffic in Mexico for ASUR slightly decreased by 0.4% as of June 2024.

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