Mexican president says operations at capital airport 'very risky' (updated)

Controladora Vuela Compania de Aviacion SAB de CV

08/09/2023 16:53

(Adds details on Fitch downgrade, president remarks)
       MEXICO CITY, Sept 8 (Reuters) - Operations at Mexico
City's principal airport are "very risky," President Andres
Manuel Lopez Obrador said on Friday.
    The Mexico City International Airport (AICM) is operating at
150% of its capacity, Lopez Obrador said at a regular press
conference, as he sought to make the case for reducing the
number of flights there.
    Last year, his administration opened a state-run airport to
the north of the main hub to alleviate congestion, though
traffic there still remains much lower than at the more
centrally located AICM.
        
    Government-mandated flight cuts
     at the AICM are set to take effect in January, slashing
slots from 52 per hour to 43 per hour. Industry groups decried
the move.
  
        The flight cuts would also affect the usage tax
collected from each passenger who travels through the airport.
The tax is currently used to pay off some $4.2 billion in
outstanding bonds from the construction of an unfinished
airport, which Lopez Obrador scrapped upon his election.
  
        Ratings agency 
    Fitch revised
     the outlook of the trust which manages the bonds, the
Mexico City Airport Trust, to negative from stable earlier this
week, citing concerns about the main airport's ability to
address maintenance needs and significant passenger congestion.
  
        Asked about the downgrade, Lopez Obrador said on Friday
that bondhoders can trust their investments are safe.
  

 (Reporting by Valentine Hilaire; Editing by Kylie Madry)
 ((Valentine.Hilaire@thomsonreuters.com;))