The completion of a 50 million passenger per annum airport in Mexico City has major implications for the passenger traffic flows to airports operated by Grupo Aeroportuario Del Sureste (ASR-NYSE, $161.38), Grupo Aeroportuario Del Pacifico (PAC-NYSE, $95.37) and Grupo Aeroportuario Del Centro Norte (OMAB-NASDAQ, $41.58).
Mexico operates a somewhat antiquated hub-and-spoke transport flow system with the major hub being Mexico City. Capacity constraints at Mexico City have been a sore point for many years and have resulted in sub-optimum utilization of regional airports throughout the entire country.
A modern 50 million person airport, all else being equal, should produce strong incremental traffic flows to airports all throughout Mexico. The three publicly traded Mexican airport operators should be primary beneficiaries.