|
21. |
Revenues |
According to the General Law on Airports and its regulations in Mexico, certain of the Company’s revenue are classified as airport, complementary and commercial services. Airport services generally include the use of airport runways, taxiways and parking areas for arriving and departing planes, use of passenger walkways, security services, hangars, and, in general, use of the space inside the terminal and other infrastructure by aircraft, passengers and cargo services. These services include rental of space that is vital for the operation of airlines and complementary service suppliers. Complementary services are ramps and handling services, catering, maintenance and repairs, and traffic and dispatch services. Commercial services include services that are not essential for the operation of an airport; therefore, these revenues are not regulated by TM, such as car parking services, lease of space to retailers, restaurants and banks, among others. The revenues of the subsidiary MBJA have the same classification, therefore consolidated in the area that correspond to the numbers of airports in Mexico.
A price regulation system establishes in Mexico a TM rate for airport services and complementary services for each airport for each year in a five-year period. The maximum rate is the maximum amount of revenues per “workload unit” that may be earned at an airport each year from regulated sources. Under this regulation, a workload unit is equivalent to one passenger (excluding transit passengers) or 100 kilograms (220 pounds) of cargo. As of December 2014, SCT authorized the Company’s maximum rates applicable for the period 2015-2019.
The maximum rates of the Montego Bay Airport, were approved in November 2014 and are applicable from April 1, 2015 to March 31, 2020.
During the periods ended December 31, 2015, 2016 and 2017, the compliance with the TM by the Company’s Mexican airports was 100.0%, 99.9%, and 100.0%, respectively.
The table below presents a summary for the years ended December 31, 2015, 2016 and 2017, of the Company’s revenues (these do not include revenues related to improvements to concession assets under IFRIC 12). Using the Airports Law classification, the information is sent to the SCT to comply with the Company’s reporting obligations with respect to regulated and unregulated revenues, which are classified as either aeronautical or non-aeronautical revenues. For this presentation, access fee are classified as airport services.
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2015 |
|
|
2016 |
|
|
2017 |
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||||||
|
Regulated revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Airport operating services to airlines: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Landing |
|
Ps. |
284,275 |
|
|
Ps. |
518,404 |
|
|
Ps. |
681,096 |
|
|||
|
Charges for not canceling extended stay reservations |
|
|
|
3,412 |
|
|
|
|
3,601 |
|
|
|
|
2,207 |
|
|
Parking on embarking/disembarking platform |
|
|
|
135,701 |
|
|
|
|
66,563 |
|
|
|
|
72,158 |
|
|
Parking on extended stay or overnight platform |
|
|
|
35,663 |
|
|
|
|
45,274 |
|
|
|
|
61,722 |
|
|
Passenger walkways and shuttle buses |
|
|
|
18,346 |
|
|
|
|
31,217 |
|
|
|
|
34,795 |
|
|
Airport security charges |
|
|
|
113,579 |
|
|
|
|
160,986 |
|
|
|
|
181,304 |
|
|
Airports services |
|
|
|
34,540 |
|
|
|
|
— |
|
|
|
|
— |
|
|
Airport real estate services to airlines: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leasing of hangars to airlines |
|
|
|
7,011 |
|
|
|
|
20,257 |
|
|
|
|
24,574 |
|
|
Leasing of shops, warehouses and stockrooms to airlines (operating) |
|
|
3,884 |
|
|
|
4,045 |
|
|
|
4,040 |
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|||
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Leasing of space and other terminal facilities to airlines within the terminal (operating) |
|
|
43,559 |
|
|
|
53,095 |
|
|
|
56,100 |
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|||
|
Leasing of land and other surfaces to airlines outside the terminal (operating) |
|
|
3,154 |
|
|
|
6,013 |
|
|
|
5,602 |
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|||
|
Leasing of check-in desks and other terminal space |
|
|
|
4,090 |
|
|
|
|
809 |
|
|
|
|
575 |
|
|
Leasing of desks and other terminal space for ticket sale. |
|
|
|
6,294 |
|
|
|
|
5,764 |
|
|
|
|
7,866 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Airport passenger services: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic passenger charges |
|
|
|
2,078,059 |
|
|
|
|
2,552,169 |
|
|
|
|
3,054,639 |
|
|
International passenger charges |
|
|
|
2,404,331 |
|
|
|
|
3,210,822 |
|
|
|
|
3,696,147 |
|
|
Airport real estate services and rights of access to other operators |
|
|
28,709 |
|
|
|
33,192 |
|
|
|
34,688 |
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|
Complementary services: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Catering services |
|
|
|
16,601 |
|
|
|
|
21,286 |
|
|
|
|
24,893 |
|
|
Other third-party ramp services rendered to airlines |
|
|
|
35,670 |
|
|
|
|
42,283 |
|
|
|
|
50,775 |
|
|
Traffic and/or dispatch |
|
|
|
37,362 |
|
|
|
|
55,402 |
|
|
|
|
58,954 |
|
|
Fuel supply or removal |
|
|
|
117,162 |
|
|
|
|
195,458 |
|
|
|
|
216,600 |
|
|
Third-party airplane maintenance and repair |
|
|
|
7,620 |
|
|
|
|
11,280 |
|
|
|
|
11,787 |
|
|
Total regulated revenues included in the maximum rate |
|
|
|
5,419,022 |
|
|
|
|
7,037,920 |
|
|
|
|
8,280,522 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Regulated revenues not included in the maximum rate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Car parking charges |
|
|
|
251,468 |
|
|
|
|
254,108 |
|
|
|
|
277,229 |
|
|
Recovery of cost over aeronautical services |
|
|
|
115,273 |
|
|
|
|
126,513 |
|
|
|
|
157,211 |
|
|
Recovery of cost over non-aeronautical services |
|
|
|
31,976 |
|
|
|
|
35,721 |
|
|
|
|
43,034 |
|
|
Total regulated revenues not included in the maximum rate |
|
|
|
398,717 |
|
|
|
|
416,342 |
|
|
|
|
477,474 |
|
|
Total regulated revenues |
|
|
|
5,817,739 |
|
|
|
|
7,454,262 |
|
|
|
|
8,757,996 |
|
|
|
|
2015 |
|
|
2016 |
|
|
2017 |
|
||||||
|
Unregulated revenues(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial concessions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail operations |
|
|
|
125,481 |
|
|
|
|
186,849 |
|
|
|
|
201,683 |
|
|
Food and beverages |
|
|
|
118,910 |
|
|
|
|
138,664 |
|
|
|
|
163,925 |
|
|
Duty free |
|
|
|
226,226 |
|
|
|
|
312,569 |
|
|
|
|
343,847 |
|
|
VIP lounges |
|
|
|
21,021 |
|
|
|
|
28,418 |
|
|
|
|
36,945 |
|
|
Financial services |
|
|
|
28,671 |
|
|
|
|
36,537 |
|
|
|
|
40,586 |
|
|
Communications and networks |
|
|
|
10,202 |
|
|
|
|
12,528 |
|
|
|
|
11,927 |
|
|
Car rentals |
|
|
|
138,532 |
|
|
|
|
177,807 |
|
|
|
|
205,992 |
|
|
Commercial leasing |
|
|
|
22,912 |
|
|
|
|
22,802 |
|
|
|
|
16,579 |
|
|
Advertising |
|
|
|
129,244 |
|
|
|
|
169,762 |
|
|
|
|
168,573 |
|
|
Time sharing developers |
|
|
|
139,124 |
|
|
|
|
172,660 |
|
|
|
|
186,652 |
|
|
Leasing of space to airlines and other complementary service providers (non-operating) |
|
|
|
205,891 |
|
|
|
|
111,146 |
|
|
|
|
123,568 |
|
|
Lease outside the terminal |
|
|
|
|
|
|
|
|
36,132 |
|
|
|
|
47,730 |
|
|
VIP Lounges operated directly |
|
|
|
65,045 |
|
|
|
|
112,042 |
|
|
|
|
154,737 |
|
|
Convenience store |
|
|
|
— |
|
|
|
|
93,747 |
|
|
|
|
84,436 |
|
|
Royalties |
|
|
|
— |
|
|
|
|
532 |
|
|
|
|
4,700 |
|
|
Revenues from sharing of commercial activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail operations |
|
|
|
50,432 |
|
|
|
|
87,845 |
|
|
|
|
113,175 |
|
|
Food and beverages |
|
|
|
50,537 |
|
|
|
|
81,455 |
|
|
|
|
112,350 |
|
|
Duty free |
|
|
|
21,391 |
|
|
|
|
36,331 |
|
|
|
|
53,709 |
|
|
Financial services |
|
|
|
721 |
|
|
|
|
726 |
|
|
|
|
17,386 |
|
|
Car rentals |
|
|
|
8,904 |
|
|
|
|
20,914 |
|
|
|
|
28,790 |
|
|
Access fee for ground transportation |
|
|
|
46,145 |
|
|
|
|
61,267 |
|
|
|
|
75,938 |
|
|
Non-airport access fees |
|
|
|
28,696 |
|
|
|
|
60,128 |
|
|
|
|
73,622 |
|
|
Other leases |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
11,706 |
|
|
Services rendered to ASA |
|
|
|
3 |
|
|
|
|
82 |
|
|
|
|
276 |
|
|
Various commercial-related revenues |
|
|
|
12,447 |
|
|
|
|
16,319 |
|
|
|
|
16,599 |
|
|
Total unregulated revenues |
|
|
|
1,450,535 |
|
|
|
|
1,977,262 |
|
|
|
|
2,295,431 |
|
|
Total aeronautical and non-aeronautical services |
|
Ps. |
|
7,268,274 |
|
|
Ps. |
|
9,431,524 |
|
|
Ps. |
|
11,053,427 |
|
(1)Unregulated revenues are earned based on the terms of the Company’s operating lease agreements. Lease agreements are based on either a monthly rent (which generally increases each year based on the National Consumer Price Index (INPC) in Mexico and based on the CPI or the greater of a monthly minimum guaranteed rent or a percentage of the lessee’s monthly revenues. Monthly rent and minimum guaranteed rent earned on the Company’s operating lease agreements are included under the caption “Commercial concessions” above. Revenues earned in excess of the minimum guaranteed rent are included in the “Revenues from sharing of commercial activities” caption above (Note 33).
Revenues from improvements to concession assets are recognized with respect to the additions and improvements made for the Company, which are committed under the MDP, and is a requirement of fulfillment. Revenues for the years ended as of December 31, 2015, 2016 and 2017 accounted for Ps. 838,635, Ps. 1,676,037 and Ps. 1,312,491, respectively.