Southeast Airport Group (NYSE: ASR)

Southeast Airport Group, also known as ASUR, is a Mexican corporation that operates and develops nine airports in the southeast region of Mexico. The company was established in 1998 as part of the Mexican government's initiative to allow private sector investment in the country's airports. ASUR functions as a holding company, managing its operations through its subsidiaries.

ASUR's primary source of revenue comes from the operation of its airports, which includes charging airlines, passengers, and other users for the use of airport facilities. The company also generates income from commercial activities conducted at its airports, such as leasing space to restaurants and retailers.

One of ASUR's most significant airports is Cancún Airport, which is the second busiest airport in Mexico in terms of passenger traffic and the busiest in terms of international passengers in regular service. Cancún Airport serves as a major tourist destination, with over 42 million visitors in 2023. ASUR's revenue is heavily dependent on Cancún International Airport, which accounted for 75.3% of its Mexican passenger traffic volume and 78.6% of its Mexican revenues in 2023. The company also operates eight other airports in Mexico, including Mérida, Veracruz, Villahermosa, Oaxaca, Huatulco, Cozumel, Tapachula, and Minatitlán.

In addition to its Mexican concessions, ASUR owns a controlling interest in Airplan, which has concessions to operate six airports in Colombia. These airports include the Enrique Olaya Herrera Airport in Medellín, the José María Córdova International Airport in Rionegro, the Los Garzones Airport in Montería, the Antonio Roldán Betancourt Airport in Carepa, the El Caraño Airport in Quibdó, and the Las Brujas Airport in Corozal. ASUR also holds a lease to operate, maintain, and develop the LMM Airport in San Juan, Puerto Rico, for an initial term of 40 years from February 27, 2013.

ASUR has made significant efforts to reduce its environmental impact and promote sustainability. In 2022, the company established a Sustainability Committee that reports to its Board of Directors. The company's sustainability objectives include reducing emissions and energy consumption, promoting diversity and equity, and supporting local communities.

The company's business is highly dependent on international air travel and the perceived attractiveness of its destinations for tourists. As such, ASUR faces competition from other airports in the region and competing tourist destinations. The company's airports serve a diverse range of customers, including international tourists, business travelers, and locals.