Grupo Aeroportuario del Sureste, S.A.B. de C.V. operates a group of airports in the southeast region of Mexico under the brand name ASUR. These airports are located in the cities of Cancún, Cozumel, Huatulco, Mérida, Minatitlán, Oaxaca, Tapachula, Veracruz and Villahermosa. The company’s headquarters are located in Mexico City. It has no operations outside of Mexico.
The company’s core activity is to administer and maintain the infrastructure of its airports to ensure sufficient capacity for safe, efficient operations and a high standard of service. Basic infrastructure includes that required for aircraft takeoff and landing operations and for arriving and departing passenger flows, as well as facilities for the authorities involved in airport operations (air traffic controllers, customs, immigration, etc.). Contracts are entered into with external companies for a series of secondary business lines, such as restaurants, shops and other passenger services.
In 2008, a total of 17,752,392 passengers passed through ASUR’s terminals. The company’s largest airport is the one located at Cancún, which accounted for 71% of total passenger traffic in 2008.
COMPANY HISTORY
ASUR’s nine airports are operated under 50-year concessions that were granted to the company in 1998, as part of the Mexican government’s plan to open up the country’s state-owned airport sector to private investment.
Under the privatisation scheme, an initial stake of 15% in the company’s shares was sold to a strategic partner, ITA, with expertise in Mexican business operations and in the international airport industry. The remaining 85% of the company’s shares (the B series) began trading on the stock exchanges of Mexico City and New York in two public offers in September 2000 and March 2005.
SHAREHOLDER STRUCTURE
In June 2007, the strategic partner ITA reduced its shareholding in the company from 15% to 7.65%. ITA is owned by Fernando Chico Pardo, a Mexican investor, and by Copenhagen Airports A/S, the operator of the airport in the Danish capital. The 92.35% of ASUR’s shares that are not held by ITA are traded on the New York Stock Exchange (NYSE: ASR) and the Mexico City Bolsa (BMV: ASUR).