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: January 2003 (specifically the 28-day period from January 1 through January 28, 2003)
Business Overview: ASUR operates concessions for nine airports in southeast Mexico, including Cancun, Merida, Cozumel, and Villahermosa. The company is listed on the NYSE (ASR) and the Mexican Bolsa (ASUR).
Key Financial and Operational Metrics
This filing reports operational traffic data rather than financial statements (revenue, profit, cash flow, or debt). Key operational metrics for the 28-day period ending January 28, 2003, compared to the same period in 2002:
- Total Passenger Traffic: 886,829 passengers (up 14.3% year-over-year).
- Top Performing Airport: Cancun, with 642,908 passengers (up 17.9%).
- Lowest Performing Airport: Minatitlan, with 8,634 passengers (down 4.9%).
- Exclusions: Transit and general aviation passengers are excluded from these figures.
Material Changes Versus Prior Period
Passenger traffic increased across the majority of ASUR's portfolio compared to January 2002. The aggregate growth of 14.3% was driven primarily by Cancun, which contributed significantly to the total volume. Weekly growth rates remained positive throughout the month, ranging from 12.5% to 15.9% year-over-year. Minatitlan was the only airport to report a decline in total traffic for the period.
Guidance, Outlook, and Management Commentary
Management Commentary: ASUR management is publishing monthly traffic figures to assist investors in monitoring the impact of the September 11, 2001, events and the current economic environment on passenger traffic.
Outlook: Management expects to return to normal quarterly reporting procedures once passenger traffic returns to normal patterns.
Risks and Contingencies: The filing explicitly cites the lingering effects of the September 11, 2001, attacks and the broader economic environment as factors influencing traffic monitoring.
Important Facts for Investor Verification
- Verify the specific 28-day comparison window (Jan 1-28, 2003 vs. Jan 2-29, 2002) when analyzing year-over-year growth rates.
- Note that financial metrics (revenue, EBITDA, debt) are not provided in this specific filing; only passenger traffic counts are reported.
- Confirm the company's transition timeline back to quarterly reporting, as monthly reporting is a temporary measure due to post-9/11 market conditions.
- Review the performance of Minatitlan, the only airport in the portfolio showing negative growth (-4.9%) during this period.