Business Context and Reporting Period
Company: Southeast Airport Group (Grupo Aeroportuario del Sureste, S.A. de C.V.)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: October 2002 (specifically the 35-day period from September 25 through October 29, 2002, compared to the equivalent period in 2001).
Business Overview: ASUR operates concessions for nine airports in southeast Mexico, including Cancun, Merida, and Cozumel. The company is listed on the NYSE (ASR) and the Mexican Bolsa (ASUR).
Key Financial Metrics and Operational Data
Passenger Traffic: Total passenger traffic for the reported period increased by 6.0% year-over-year, reaching 796,872 passengers compared to 751,440 in the prior year. Transit and general aviation passengers are excluded from these figures.
Financials: The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on operational passenger traffic statistics.
Material Changes Versus Prior Period
- Overall Growth: Total traffic rose 6.0% despite the ongoing impact of the September 11, 2001, events on the aviation industry.
- Top Performers:
- Cancun: Increased 9.3% (522,278 passengers).
- Oaxaca: Increased 12.6% (43,146 passengers).
- Villahermosa: Increased 6.1% (50,010 passengers).
- Declines:
- Cozumel: Decreased 20.8% (21,820 passengers).
- Huatulco: Decreased 17.0% (14,457 passengers).
- Minatitlan: Decreased 3.0% (12,262 passengers).
- Weekly Trends: Traffic fluctuated weekly, with a 1.3% decrease in the week of October 2-8, followed by increases ranging from 8.0% to 9.6% in subsequent weeks.
Guidance, Outlook, and Management Commentary
Reporting Frequency: Management is publishing monthly passenger traffic figures as an extraordinary measure due to the post-September 11, 2001, environment. They expect to return to normal quarterly reporting procedures once the situation normalizes.
Risks and Contingencies: The filing explicitly references the "current situation following the events of September 11, 2001, in the U.S." as a material factor influencing reporting practices and potentially traffic volumes, though specific financial risks are not detailed in this text.
Key Facts for Investor Verification
- Verify the correlation between the 6.0% traffic increase and actual revenue growth, as financial statements are not included in this filing.
- Monitor the significant double-digit declines in Cozumel (-20.8%) and Huatulco (-17.0%) to assess if these are temporary or structural issues.
- Confirm the timeline for the company's return to quarterly reporting, as monthly updates may not reflect full financial performance.
- Review subsequent filings for the impact of the September 11, 2001, events on the full fiscal year, given the ongoing nature of the disruption noted by management.