Mexico launches airport privatisation drive

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The government is to sell controlling stakes in two airport authorities covering 25 Mexican airports

Two Mexican airport authorities are to be privatised this year as the government seeks to improve airport facilities and drive commercial revenues. The Mexican transport ministry is to offer 85% of Grupo Aeroportuario del Pacifico (GAP) by July, followed by the sale of Grupo Aeroportuario Centro Norte in either November or January

The government anticipates that the stake in GAP, which operates 12 Mexican airports including Guadalajara and Tijuana, will fetch about $800m. A transport ministry official said that the move would allow GAP and Centro Norte—which manages 13 airports including Monterrey and Acapulco—to reach similar standards of corporate governance to those achieved since the privatisation of Grupo Aeroportuario del Sureste (ASUR), Mexico's first publicly traded airport authority.

Shares in the two groups will be sold on Wall Street as well as the local bourse. Last year the government completed the privatisation of ASUR by selling its remaining 11% stake in the company, which operates nine airports including Cancún International airport.