By the end of 2024, five publicly traded airlines on the Mexican Stock Exchange achieved profits totaling 34 billion 446 million pesos, despite challenges posed by a reduced supply of seats and higher operating costs. According to an analysis by El Financiero based on the companies' stock reports, both airport groups (OMA, GAP, and ASUR) and airlines Viva Aerobus and Volaris generated net profits during the past year, showing better performance than in 2023.
The net profits of the companies increased on average by 25% during the year, despite the depreciation of the Mexican peso and a more competitive environment in the tourism sector. Aeropuerto del Sureste Group (ASUR) stood out with profits of 14 billion 30 million pesos in 2024, surpassing the drop in passenger traffic in Cancun. Meanwhile, Pacific Airport Group (GAP) achieved profits of just over 8 billion 875 million, although these fell by 8.4% compared to 2023.
As for the Central North Airport Group (OMA), it reported a net profit of 4 billion 936 million pesos, showing a decrease of 1.6% compared to the previous year. Ruffo Pérez Pliego, OMA's administration and finance director, highlighted that they expect a growth of around a mid-single digit year after year, thanks to the recovery in domestic capacity of airlines.
Viva Aerobus achieved the highest net profit in 2024, with 4 billion 300 million pesos, due to its strategy of betting on the domestic market through short-term aircraft leases. On the other hand, Volaris generated profits of just over 2 billion 300 million pesos, focusing on a larger supply of flights to and from the United States. Both airlines managed to navigate challenges such as grounding aircraft and fluctuating demand expectations in the market.
For the upcoming year, Volaris expects a recovery in domestic supply against volatile demand in the cross-border market, while Viva Aerobus is confident in the flexibility of its strategy to maintain controlled costs and restore a normalized cost base.
