Business Context and Reporting Period
Company: Central North Airport Group (Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., or OMA)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: October 2009 (with Year-to-Date comparison through October 2009)
Date of Filing: November 9, 2009
Business Overview: OMA operates 13 international airports in nine states of central and northern Mexico, serving major metropolitan areas like Monterrey and tourist destinations such as Acapulco and Mazatlán.
Key Financial and Operational Metrics
Note: This filing contains operational traffic data only. No revenue, profit, cash flow, margin, debt, or liquidity figures are provided in this specific document.
| Metric | Oct 2008 | Oct 2009 | Change % | Jan-Oct 2008 | Jan-Oct 2009 | Change % |
|---|---|---|---|---|---|---|
| Total Terminal Passengers | 1,038,648 | 910,340 | (12.4)% | 11,958,742 | 9,635,167 | (19.4)% |
| Domestic Passengers | 898,388 | 793,869 | (11.6)% | 9,973,434 | 8,144,379 | (18.3)% |
| International Passengers | 140,260 | 116,471 | (17.0)% | 1,985,308 | 1,490,788 | (24.9)% |
| Flight Operations | N/A | N/A | (8.6)% | N/A | N/A | N/A |
Traffic Composition (Oct 2009): 97.5% Commercial Aviation, 2.5% General Aviation.
Material Changes vs. Prior Period
- Overall Decline: Total passenger traffic fell 12.4% in October 2009 compared to October 2008. Year-to-date traffic declined 19.4%.
- International Impact: International traffic saw the steepest decline, dropping 17.0% in October and 24.9% year-to-date.
- Domestic Variance: While domestic traffic fell 11.6% in October, specific airports (Culiacán, Durango, Mazatlán) saw growth of 14.8%, 7.7%, and 7.0% respectively.
- Flight Operations: Total takeoffs and landings decreased 8.6% in October 2009.
Management Commentary, Risks, and Unusual Items
Drivers of Performance
- Negative Factors:
- Suspension of Aviacsa (since July 6, 2009).
- Departure of carriers Alma and Aladia from the market.
- Reductions in traffic by Interjet and Magnicharter.
- Cancellation of international routes by Continental, Grupo Aeroméxico, and Alaska Airlines.
- Monterrey, Acapulco, and Ciudad Juárez airports recorded the largest traffic reductions.
- Positive Factors:
- New routes by VivaAerobus (Mazatlán-La Paz, Reynosa-Veracruz) and Aeromar (Monterrey-San Luis Potosí).
- International traffic at Zacatecas increased 22.6% due to growth on Chicago, Oakland, and Los Angeles routes.
Risks and Forward-Looking Statements
The filing includes standard forward-looking statements regarding future expectations. Management cautions that actual results may differ due to risks discussed in the most recent Form 20-F, including uncertainties beyond OMA's control. OMA undertakes no obligation to update these statements.
Investor Verification Checklist
- Financial Impact: Verify the correlation between the 19.4% year-to-date traffic decline and actual revenue/profit impacts in the next quarterly or annual financial report.
- Airline Partnerships: Monitor the status of suspended carriers (Aviacsa) and the long-term viability of new routes launched by VivaAerobus and Aeromar.
- International Recovery: Assess the stability of international route cancellations by major carriers (Continental, Alaska Airlines) and their potential return.
- Regional Disparities: Review performance data for specific airports like Zacatecas (growth) versus Monterrey/Acapulco (decline) to understand portfolio diversification risks.