Mixed week for the Mexican aviation sector. While the Ministry of the Interior reported deceleration of Mexico’s air tourism in 2018, local airlines Viva Aerobus and Volaris expect positive results for 2019. Saturation at Mexico City International Airport (AICM) remains a problem and the Ministry of Communication and Transport now turns to neighboring state Queretaro as a potential solution to the problem. Meanwhile, the operator in charge of NAIM announced a MX$30 billion (US$1.6 billion) payment to investors of the now cancelled project.
Now, dive into last week’s highlights:
Grupo Aeroportuario de la Ciudad de México (GACM) will pay NAIM investors MX$30 billion (US$1.6 billion) by February 28 to compensate losses related to the project’s cancellation.
The Ministry of Communications and Transport is pondering the viability of using the Queretaro Intercontinental Airport to drain saturation of cargo arrivals at AICM. The first stage would be to redirect 10 percent of the over 580,000 ton of cargo received in 2018.
Foreign air tourism decelerated in 2018 according to the Ministry of the Interior. The country received 18.7 million tourists over the year, which represents a 4.6 percent increase compared to 2017 but also a downturn from the 2016-2017 growth rate of 9.8 percent.
Viva Aerobus reported a 20 percent increase in passenger traffic during January 2019, in comparison to that same month in 2018.
After a difficult 2018, Volaris stock appraises by 38.5 percent during the first month of 2019.
Australian Qantas cancels a US$4 billion order for eight Airbus A380. The move comes just a week after Emirates, Airbus’ largest A380 customer, began contemplating a possible switch towards other aircraft. The cancellation raises doubts regarding the future of the largest commercial airplane in the world.
Embraer receives an order for 12 military aircraft from the Nigerian Air Force.