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Grupo Aeroportuario Del Sureste Management Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: ASR

We remain positive on providing an outstanding experience to all passengers at our nine concessions in Mexico while continuing to drive growth, efficiencies and profitability. For example, one of our main objectives is to continuously improve the commercial offering for the airports. This quarter, commercial revenues for passenger reached Ps.64.39, a year-over-year increase of more than 7%. As we have announced before, it is our intention to use our strong balance sheet to increase leverage to personifying traffic for the year. In fact, during the quarter we have paid a loan for a conservative of Ps50 million.

At the same time, we are seeking new attractive investment opportunities in Latin America airport market, to cut the lines somewhere core strength and maximize region on our own investment future progress. But keep in mind, we could be analyzing the public bidding documents issued by the Brazilian government for the Brasilia, Direct Airport Service.

For the time being, all that we can say is that the possibility of finding an attractive business is very low. We have also established a 50-50 aligned with the Tristar capital to participate in the bidding process for the privatization of the Tercuanto Porico de Nacional Airport. Now we are among the places that have been short-listed by the government to continue the bidding process.

We’re also seeking opportunity to Latin America to check and disclose at the moment. I’m glad to announce that today we will have our third direct flight with a regular carrier from Cancún to Paris, operated by airports.

Turning now to the results, this was a very good quarter. Passenger traffic increased 8.15% year-over-year with 13 easy traffic on parcels mainly in terms of the domestic traffic. Traffic was up by 0.8% in July, 4.2% in August and 18.4% in September. Despite the start of strong traffic performance, the deduction of medical operations and the dispensation of the reacting in 2010, traffic remained in low previous levels with a lack of domestic airlines seat capacity.

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