Airport Developments - San Diego International Airport opened its new Terminal 1 on September 23, replacing the old terminal built in 1967, which struggled with high travel demand [2][3] - The new terminal features 69 check-in kiosks, 19 gates, and 13 security lanes, with plans for further expansion to 30 gates by 2028 [3] Airline Innovations - Fiji Airways has decided to eliminate traditional business class amenity kits, opting instead for a selection of items offered by cabin crew, aiming to reduce waste and costs [7][8] - LATAM Airlines confirmed an order for up to 74 Embraer E195-E2 aircraft, valued at $2.1 billion, with the first 24 deliveries scheduled for 2026, enhancing its South American route network [9][10][13] Digital Transformation - Ryanair will eliminate physical boarding passes and check-in desks starting November 12, 2025, transitioning to a fully digital boarding pass system via the myRyanair app [14][15] - This move aims to create a faster and more environmentally friendly travel experience, although it may impact passengers without smartphones [15] Customer Experience Enhancements - Lufthansa is investing approximately $19.8 million in its new onboard service product, FOX, which will enhance passenger control over their in-flight experience, starting in spring 2026 [17][20] - Changes include an increase in meal choices and dine-on-demand options in business class, reflecting a trend towards personalized travel experiences [20] Route Expansion - Air Canada is adding Dublin as a new destination for its A321XLR aircraft, with additional routes planned for Toulouse, Palma de Mallorca, and Edinburgh between 2026 and 2028 [21][22][23]

Financial Data and Key Metrics Changes - Total revenues for Q4 2024 increased by 19% year-on-year to MXN 7.4 billion, reflecting strong performance across all regions [11][12][22] - Net majority income for the year rose 33% year-on-year to MXN 13.6 billion, supported by resilient operational performance and a foreign exchange gain of MXN 2 billion [22][23] - Consolidated EBITDA increased by 23% year-on-year to over MXN 5 billion, with an adjusted EBITDA margin improving by 200 basis points to 69.7% [18] Business Line Data and Key Metrics Changes - Passenger traffic was flat year-on-year, down 0.3% at 17.7 million passengers for Q4, with full-year traffic at 71 million [5] - Colombia's revenue grew by 30%, while Mexico and Puerto Rico saw low teens growth, with Mexico accounting for 72% of total revenues [12][13] - Commercial revenues per passenger grew in the high single digits year-on-year, reaching MXN 130 in Q4 [15] Market Data and Key Metrics Changes - Colombia experienced mid-teens growth in passenger traffic, with international traffic up 29% and domestic traffic up 7% [6][7] - Puerto Rico's total traffic increased nearly 10%, supported by a strong growth in international traffic [7] - Mexico's performance remained soft, with an 8% decline in passenger traffic, affected by Pratt & Whitney engine restrictions and capacity constraints at Mexico City Airport [8][9] Company Strategy and Development Direction - The company aims to strengthen its airport network through strategic infrastructure investments to enhance passenger experience and expand commercial opportunities [22][23] - Expansion projects include the construction and expansion of Terminal 1 at Cancun Airport, expected to be completed by 2026, and Terminal 4 by 2028 [21] - The company is focused on recovering commercial opportunities lost due to capacity restrictions, particularly in Terminal 2 [29][46] Management's Comments on Operating Environment and Future Outlook - Management expects traffic trends to normalize in Q1 2025 towards sustainable levels, with improvements anticipated by the end of Q3 2025 regarding capacity restrictions [28][33] - The company acknowledges ongoing challenges from Pratt & Whitney engine issues but expects a gradual improvement in operations [27][93] - Management remains optimistic about the resilience of markets like Colombia and Puerto Rico, with expectations for continued growth [50] Other Important Information - Total expenses increased by 13% year-on-year, primarily due to increased concession fees and minimum wages in Mexico [17] - Capital expenditure accelerated to MXN 2.5 billion in Q4, accounting for half of the total MXN 4.4 billion for the year [19][20] Q&A Session Summary Question: Traffic growth expectations and airline network development in Mexico - Management indicated that traffic will continue to be affected by capacity restrictions and Pratt & Whitney issues, but improvements are expected by Q3 2025 [27][28] Question: Capacity increase at Mexico City Airport - Management noted that there are discussions about lifting capacity restrictions at Mexico City Airport, potentially by Q3 2025 [32][33] Question: International traffic flow nuances - Management reported that international traffic from Canada was nearly flat, with no significant changes due to political rhetoric in the U.S. [36][38] Question: Tulum Airport's impact on Cancun - Management confirmed that Tulum's traffic is included in regulatory calculations, but it is not termed as compensation [68][70] Question: Commercial revenue targets post-expansion - Management stated that there are no specific targets for commercial revenues per passenger, as it is a moving target [45][46] Question: Updates on Dominican Republic assets - Management indicated that there are no updates on the Dominican Republic asset, as the legal process continues [82][84]