Shares of Mexican airport operator Grupo Aeroportuario del Sureste, known as ASUR
Management has heard from multiple sources that the Mexican government intends to open up bidding for another airport to serve the rapidly growing tourist destination of the Mayan Riviera. That would mean that a portion of the traffic at ASUR's Cancun and Cozumel airports -- those tourists who are headed for destinations in the Riviera -- may deplane at a new facility, cutting traffic and therefore revenues at those two airports.
This isn't exactly a new risk factor to those who know the airport group. Officials in the state of Quintana Roo have long been advocating a new airport to better serve the destination.
And it seems that, following the quick drop, investors seem to have perceived what I believe to be the silver lining in this gathering cloud. If what ASUR management has heard is true, this will be an open, public bidding process. As one of the premier airport-management groups in the world, with operations already in the area, it seems to me a safe bet that ASUR will be an eventual winner in any bidding process.
And if that means better travel conditions to the Mayan Riviera, I believe it will eventually lead to a greater number of tourist visits, faster development, and, ultimately, more traffic. Those would all be good things indeed.