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Grupo Aeroportuario Del Sureste's CEO Discusses Q2 2011 Results - Earnings Call Transcript

Stocks in this article: ASR

Today, I will provide an update on Tulúm Airport and corporate manners and afterwards I will discuss passenger traffic performance and the results of the quarter.

With respect to Tulúm Airport, the public bidding process for the construction, operation and management for an international airport in the town of Tulúm was declared void in May because none of the technical bids presented by the participants complied with the requirements established in the bidding document. As a result the economic proposals were not opened and were returned to the bidding participants.

In terms of corporate matters, on April 27 ASUR shareholders approved an ordinary cash dividend for mature related with (inaudible) of Ps.3 per share that was paid on May 17. Last May, I was named Chief Executive Officer by the Board of Directors, effective June 1, 2011. Mr. Fernando Chico Pardo remains Chairman of the company and President of the nominations and compensations and operations and acquisitions and contract committee.

Our Board of Directors expect to name a new financial and strategic planning officer in (inaudible) and in the interim, I am overseeing the financial and strategic planning areas of the company. I feel really honored to have been chosen to become ASUR’s CEO. The opportunities for future growth and advancing our position in Mexican and Latin American export markets are very attractive. I look forward to continue to capitalize on our core strengths and as we move ahead on our strategy.

Moving to the results, as expected during the quarter passenger traffic increased 2.9% year-over-year, principally driven by the stronger passenger traffic at Cancún particularly in terms of the domestic traffic. Traffic volume was up 4.9% in April, 3% in May, 0.6% in June. Remember that this year, Monday and Wednesday of holy week fell in April. For the last year, they fell in March. Traffic, however, continues to be negatively affected by the disruption of Mexicana operations in August of last year and the suspension of operations at Aviacsa in April last year.

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