Core Points - The conference is led by Cecile Combeau, Head of Investor Relations, and includes a presentation of the company's revenue for the past nine months [2] - Christelle Robillard, Group CFO, will provide prepared remarks before the Q&A session begins [2] - The information discussed during the call is forward-looking and subject to risks and uncertainties that may affect actual performance [3]

Financial Data and Key Metrics Changes - In Q3 2025, total passenger traffic reached 7.6 million, an 8% increase year over year [3] - Aeronautical revenues increased by 11%, with aeronautical revenue per passenger rising by 3% [4] - Adjusted EBITDA grew by 9% to 2.7 billion pesos, with a margin of 74.8% [5][10] - Consolidated net income was 1.5 billion pesos, reflecting a 9.1% increase compared to the same quarter last year [10] - Total debt at the end of September was 13.6 billion pesos, with a net debt to adjusted EBITDA ratio of 0.9 times [11] Business Line Data and Key Metrics Changes - Domestic passenger traffic grew by 7%, primarily driven by Monterrey Airport [3] - International passenger traffic increased by 11%, with significant contributions from routes to San Francisco and Dallas [4] - Commercial revenues grew by 7%, with parking, restaurants, VIP lounges, and retail being the main contributors [4][8] - Industrial services revenues increased by 53%, driven by higher leased square meters and contractual rent increases [9] Market Data and Key Metrics Changes - The occupancy rate for commercial space stood at 96% at the end of the quarter [4] - The overall traffic growth expectation for the year is between 7% and 8% [14] Company Strategy and Development Direction - The company is focusing on expanding capacity and commercial opportunities at Monterrey Airport, with half of the Master Development Program (MDP) investment allocated there [23] - The company is exploring international expansion opportunities, although no concrete transactions are currently in place [23] Management's Comments on Operating Environment and Future Outlook - Management expects commercial revenues per passenger to gradually increase in line with inflation [17] - Cost pressures from AG&E and utility costs are viewed as not permanent, with ongoing analysis to maintain costs [19] Other Important Information - Total investments in Q3 amounted to 472 million pesos, including major maintenance and strategic investments [5] - The negotiation process for the next MDP is on track, with expectations for a resolution in December [6][7] Q&A Session Summary Question: Traffic expectations for Q4 and 2026 - Management expects overall traffic growth for the year to be between 7% and 8%, with next year's growth anticipated in the low to mid-single digits [14] Question: Drivers behind the decline in commercial revenue per passenger - The decline is attributed to one-time revenues recorded in the previous year, with expectations for gradual increases in future quarters [17] Question: Outlook on AG&E and utility cost pressures - Cost pressures are not expected to be permanent, with management actively analyzing alternatives to control costs [19] Question: Capital allocation for the next MDP and international expansion - Half of the MDP will be allocated to Monterrey, focusing on capacity expansion and commercial opportunities, while international expansion opportunities are being explored [23]

Financial Data and Key Metrics Changes - In Q3 2025, OMA's passenger traffic reached 7.6 million, an 8% year-over-year increase, with seat capacity rising by 11% [3] - Aeronautical revenues increased by 11%, with aeronautical revenue per passenger rising by 3% [4] - Adjusted EBITDA grew by 9% to MXN 2.7 billion, with an adjusted EBITDA margin of 74.8% [5][10] - Consolidated net income for the quarter was MXN 1.5 billion, reflecting a 9.1% increase compared to the same quarter last year [10] - Cash generated from operating activities amounted to MXN 1.9 billion, with a cash position of MXN 4.4 billion at the end of the quarter [11] Business Line Data and Key Metrics Changes - Domestic passenger traffic grew by 7%, primarily driven by Monterrey Airport, contributing significantly to overall growth [3] - International passenger traffic increased by 11%, with notable contributions from routes to San Francisco, Atlanta, and Dallas [4] - Commercial revenues grew by 7%, with commercial revenue per passenger at MXN 60, driven by parking, restaurants, VIP lounges, and retail [4][8] - Industrial services revenues surged by 53%, mainly due to increased leased square meters in the industrial park [9] Market Data and Key Metrics Changes - The occupancy rate for commercial space was 96% at the end of the quarter, indicating strong demand [4] - The overall investment level for the next Master Development Program is expected to remain similar in real terms to the previous program [7] Company Strategy and Development Direction - The company plans to allocate around half of its Master Development Program (MDP) investment to Monterrey, focusing on capacity expansion and commercial opportunities [23] - OMA is exploring international expansion opportunities, although no concrete transactions are currently in place [23] Management Comments on Operating Environment and Future Outlook - Management expects overall traffic growth for the year to be between 7% and 8%, with a forecast of low to mid-single-digit growth for the following year [14] - Cost pressures from AG&E and utility costs are viewed as not permanent, with ongoing efforts to manage costs effectively [19] Other Important Information - Total debt at the end of September was MXN 13.6 billion, with a net debt to adjusted EBITDA ratio of 0.9x, indicating a solid financial position [11] Q&A Session Summary Question: Traffic expectations for Q4 and early thoughts on 2026 - Management anticipates overall traffic growth for the year to be between 7% and 8%, with expectations for next year in the low to mid-single digits [14] Question: Drivers behind the decline in commercial revenue per passenger - The decline is attributed to one-time revenues recorded in the previous year, with expectations for gradual increases in future quarters [17] Question: Outlook on AG&E and utility cost pressures - Cost pressures are not expected to be permanent, with management analyzing alternatives to maintain costs [19] Question: Capital allocation for the next MDP and potential international expansion - Half of the MDP will be allocated to Monterrey, focusing on capacity and commercial opportunities, while international expansion opportunities are being explored [23]

Financial Data and Key Metrics Changes - In Q3 2025, total passenger traffic increased by 8% year over year, totaling 7.6 million passengers [4] - Aeronautical revenues rose by 11%, with aeronautical revenue per passenger increasing by 3% [6] - Adjusted EBITDA grew by 9% to MXN 2.7 billion, with an EBITDA margin of 74.8% [7][13] - Consolidated net income for the quarter was MXN 1.5 billion, reflecting a 9.1% increase compared to the same quarter last year [13] - Total debt at the end of the quarter was MXN 13.6 billion, with a net debt to adjusted EBITDA ratio of 0.9 times [14] Business Line Data and Key Metrics Changes - Commercial revenues increased by 7%, driven by parking, restaurants, VIP lounges, and retail, with occupancy rates for commercial space at 96% [6][10] - Industrial services revenue surged by 53%, attributed to higher square meters leased and contractual rent increases [11] - Non-aeronautical revenues grew by 7.3%, with significant contributions from parking and retail [9][10] Market Data and Key Metrics Changes - Domestic passenger traffic grew by 7%, primarily due to increased routes from Monterrey Airport [5] - International passenger traffic increased by 11%, with notable growth on routes to San Francisco, Atlanta, and Dallas [5] Company Strategy and Development Direction - The company is focusing on expanding capacity and commercial opportunities at Monterrey Airport, which accounts for half of its traffic [30] - The Master Development Program (MDP) is under negotiation, with expectations for final resolution in December [7][8] Management Comments on Operating Environment and Future Outlook - Management anticipates overall traffic growth for the year to be between 7% to 8%, with expectations for low to mid-single-digit growth in 2026 [19] - Cost pressures from SG&A and utility costs are viewed as temporary, with management exploring alternatives to maintain cost control [24] Other Important Information - Total investments in Q3 amounted to MXN 472 million, including major maintenance and strategic investments [7] - Cash generated from operating activities was MXN 1.9 billion, with cash position at MXN 4.4 billion at the end of the quarter [13][14] Q&A Session Summary Question: Traffic expectations for Q4 and 2026 - Management expects overall traffic growth for the year to be between 7% to 8%, with low to mid-single-digit growth anticipated for next year [19] Question: Decline in commercial revenue per passenger - The decline is attributed to one-time revenues recorded in the previous year, with expectations for gradual increases in the following quarters [22] Question: SG&A and utility cost pressures - Management views these cost pressures as temporary and is analyzing alternatives to maintain cost control [24] Question: Capital allocation for the next MDP - Half of the capital will be allocated to Monterrey for capacity expansion and commercial opportunities [30]

Financial Data and Key Metrics Changes - In Q3 2025, total passenger traffic reached 7.6 million, an 8% increase year over year, with seat capacity rising by 11% [3][4] - Aeronautical revenues increased by 11%, with aeronautical revenue per passenger rising by 3% [4][10] - Total aeronautical and non-aeronautical revenues grew by 9.8% to 3.5 billion pesos [9] - Adjusted EBITDA increased by 9% to 2.7 billion pesos, with a margin of 74.8% [5][10] - Consolidated net income was 1.5 billion pesos, reflecting a 9.1% increase compared to the same quarter last year [10][11] Business Line Data and Key Metrics Changes - Domestic passenger traffic grew by 7%, primarily driven by Monterrey Airport, contributing to 68% of total domestic growth [3][4] - International passenger traffic increased by 11%, with significant contributions from routes to San Francisco, Atlanta, and Dallas [4] - Commercial revenues grew by 7%, with notable increases in parking (9.4%), restaurants (9.8%), VIP lounges (9.9%), and retail (8.2%) [8][9] - Industrial services revenues surged by 53%, driven by higher leased square meters and contractual rent increases [9] Market Data and Key Metrics Changes - The occupancy rate for commercial space stood at 96% at the end of the quarter [4] - Cash generated from operating activities amounted to 1.9 billion pesos, with a cash position of 4.4 billion pesos at the end of the quarter [11] Company Strategy and Development Direction - The company is focused on its Master Development Program (MDP) for 2026-2030, with expectations for a similar investment level to the previous MDP [5][6] - Approximately half of the MDP will be allocated to Monterrey, reflecting its significant traffic share [22] - The company is exploring international expansion opportunities, although no concrete plans have been disclosed [22] Management's Comments on Operating Environment and Future Outlook - Management expects overall traffic growth for the year to be between 7% and 8%, with a forecast of low to mid-single digits growth for 2026 [14] - Cost pressures from AG&E and utility costs are viewed as temporary, with expectations for cost management strategies to mitigate these pressures [18] Other Important Information - Total investments in Q3 2025 amounted to 472 million pesos, including major maintenance and strategic investments [5] - The company maintains a solid financial position with a net debt to adjusted EBITDA ratio of 0.9 times [11] Q&A Session Summary Question: Traffic expectations for Q4 and early thoughts on 2026 - Management anticipates overall traffic growth for the year between 7% and 8%, with next year's growth expected in the low to mid-single digits [14] Question: Drivers behind the decline in commercial revenue per passenger - The decline is attributed to one-time revenues recorded in the previous year, with expectations for gradual increases in future quarters [16] Question: Outlook on AG&E and utility cost pressures - Cost pressures are seen as temporary, with management analyzing alternatives to maintain costs in check [18] Question: Capital allocation for the next MDP and international expansion - Half of the MDP will focus on Monterrey, with ongoing exploration of international expansion opportunities [22]

Core Points - The winter flight season for China's civil aviation officially begins on October 26, 2025, with Inner Mongolia Airport Group enhancing its route network to facilitate communication among various ethnic groups [1] - A total of 39 airlines will operate under the Inner Mongolia Airport Group, with a combined weekly flight schedule of 5,176 flights, averaging 739 flights per day, representing a 15% increase in flight volume compared to the 2024 winter season [1] - The planned routes will cover 238 routes, reaching 85 cities [1] Group 1: Hohhot Airport Network Enhancement - Hohhot Airport has improved its slot utilization, operational capacity, and route structure, further enhancing its regional hub function [2] - The airport has resolved a total of 268 weekly slot demands through collaborative operations with multiple airlines, effectively increasing the efficiency of unused slots [2] - The maximum stationed capacity at Hohhot Airport can reach 43 aircraft, including 14 medium-sized aircraft and 29 smaller aircraft [2] Group 2: Route Structure Improvements - The connectivity to external routes has been strengthened, with an average of 19 daily flights to the Yangtze River Delta region, including 7 flights to Shanghai and 4-5 flights to Hangzhou and Nanjing [3] - Daily flights to the Chengdu-Chongqing region average 10-11, with a slight increase of 1 flight compared to last year [3] - The route to Mongolia has been intensified, increasing from 6 flights per week to 11, achieving a historical high of 1-2 flights per day [3] Group 3: Regional Airport Connectivity - The group’s regional airports have opened multiple new routes to key domestic cities, enhancing air connectivity for various regions [4] - Hohhot Airport has added new routes to Chongqing, Haikou, Jinan, and Fuzhou, while also increasing flights to Harbin and Qingdao [4] - Other regional airports, such as Chifeng and Xilin Gol, have also expanded their route offerings to improve accessibility [4] Group 4: "Supportive Connectivity" Network Upgrade - The "Supportive Connectivity" network plans to open 45 new routes, a 12.5% increase, achieving full coverage of all cities in the region [5] - The Inner Mongolia Airport Group will collaborate with several airlines to deploy 31 aircraft, including 5 A320 models, to enhance route quality [5] - New direct flights have been introduced between various cities to ensure quick access across the region [5] Group 5: Product and Pricing Initiatives - The Inner Mongolia Airport Group will introduce a series of promotional policies for the "Supportive Connectivity" routes, with ticket prices starting as low as 200 yuan [6] - A "cloud bus" pass product will be available for frequent travelers, providing discounts and convenience for air travel [6] - The group aims to optimize the overall route network and contribute to the high-quality development of the regional economy [6]

Core Viewpoint - The Thai government has ordered the Ministry of Transport to accelerate budget execution and investment plans to stimulate the economy and create jobs [1] Group 1: Government Initiatives - The Deputy Prime Minister and Minister of Transport, Phiphat, has instructed all departments under the Ministry of Transport to expedite fund disbursement and project implementation within four months [1] - This initiative aims to drive economic circulation and stimulate consumption [1] Group 2: AOT's Investment Plans - The Airports of Thailand Public Company Limited (AOT), a state-owned enterprise, is prepared for investment and execution of projects [1] - AOT plans to accelerate several key projects within the next four months, with a focus on the expansion of Suvarnabhumi Airport [1] Group 3: Suvarnabhumi Airport Expansion - The East Expansion project at Suvarnabhumi Airport has a total investment of approximately 12 billion Thai Baht, which will add 81,000 square meters of building area and is expected to increase passenger capacity by 15 million [1] - The project is currently awaiting cabinet approval, and if approved this year, AOT will initiate the bidding process immediately, with construction planned to start in 2026 and completion expected in 2030 [1] - Upon completion, the overall annual passenger capacity of Suvarnabhumi Airport will increase from 65 million to between 70 million and 80 million [1]

Core Viewpoint - Zhuhai Airport officially implements the 2025 winter flight schedule starting from October 26, enhancing passenger travel options with 28 operating airlines and 59 reachable destinations, including 50 direct routes [1]. Group 1: Flight Network Optimization - The flight network at Zhuhai Airport has been comprehensively optimized, with 59 reachable destinations and 50 direct routes, creating a broad coverage of the flight network [34]. - The highest frequency routes include up to 17 daily flights to Beijing and 12 to Shanghai, with 7 high-frequency routes to major regional cities such as Chengdu, Hangzhou, and Nanjing [34]. - Cities like Shenyang, Taiyuan, Jinan, and Kunming maintain a daily flight volume of 5 or more [34]. Group 2: New and Restored Routes - The winter flight schedule introduces direct flights from Zhuhai to Harbin, Shenyang, and Changchun, catering to winter tourism demand and establishing a convenient air corridor between the north and south [36]. - New and restored routes include destinations such as Ordos, Lianyungang, and Taizhou, further expanding the coverage of the flight network [36]. - The airport retains unique routes to destinations like Ganzhou, Jinggangshan, and Xiamen [36]. Group 3: Future Developments - Zhuhai Airport plans to strengthen cooperation with various airlines to continuously improve the layout of its flight network [37]. - The airport is committed to enhancing passenger service quality and ensuring a safe, convenient, and comfortable travel experience [37].

Core Insights - Guizhou Airport has seen significant growth in various transportation metrics in the first three quarters of the year, particularly in international and regional passenger throughput, which reached 198,193 passengers, a year-on-year increase of 187.02% [1][2]. Group 1: Domestic and International Routes - The airport has opened and enhanced multiple domestic routes, with 161 originating routes and 25 stopover routes [2]. - Internationally, the airport has capitalized on a 240-hour visa-free transit policy, establishing routes to key cities such as Bangkok, Osaka, Kuala Lumpur, Milan, Singapore, Jakarta, Hanoi, and Seoul, with a total of 1,946 flights executed [2]. - The average passenger load factor stands at 64.8%, excluding international stopover flights [2]. Group 2: Cargo Operations - Cargo throughput has also shown notable growth, reaching 89,950.94 tons, which is a 17.34% increase year-on-year [2]. - The airport has operated 438 international cargo flights to destinations like Yangon, Dhaka, Bangkok, and Delhi, marking an 85.60% increase [2]. - The inbound and outbound cargo volume reached 5,446.11 tons, reflecting a growth of 65.31% [2]. Group 3: Seasonal Performance - During the summer peak travel period (July 1 to August 31), the airport handled 4.8679 million passengers, averaging 78,500 passengers per day, a 3.52% increase year-on-year [2]. - The airport recorded 27 days with passenger throughput exceeding 80,000, setting three historical records during this period [2]. - The National Day and Mid-Autumn Festival holiday saw passenger throughput surpassing 547,800, a year-on-year increase of 2.28% [2]. Group 4: Service and Safety Enhancements - The airport has improved its service by reducing the check-in time for domestic flights from 40 minutes to 35 minutes and has introduced expedited channels for urgent passengers [3]. - A comprehensive safety control system has been established, integrating human, technical, and regulatory measures, with no safety incidents reported during critical periods [3].

Core Insights - Qingdao Airport will officially launch its 2025/26 winter-spring flight schedule on October 26, with a planned total of 4,149 flight takeoffs and landings per week, including 3,973 passenger flights [1] Flight Network Expansion - Compared to the previous winter-spring season, Qingdao Airport plans to open 14 new destinations including Shijiazhuang, Ruoqiang, Baishan, Lishui, Linfen, Nantong, and Enshi, enhancing coverage and accessibility to regional cities [3] - The airport will increase flight frequencies to 18 key destinations, focusing on popular southern tourist cities such as Kunming, Jingdezhen, Wuyishan, Quanzhou, Ningbo, and Xiamen, as well as northern cities known for winter tourism like Changchun, Qiqihar, and Hohhot [3] International Route Development - New international routes to Phnom Penh, Cambodia, and Hanoi, Vietnam, will be launched, along with increased frequencies to destinations like Nha Trang, Moscow, and Singapore [4] - Future plans include opening routes to Sapporo, Japan, and Daegu, South Korea, while also increasing flight frequencies to Seoul and Osaka, reinforcing Qingdao Airport's role as a gateway to Japan and South Korea [4] Enhanced Passenger Experience - Qingdao Airport is optimizing transfer services by collaborating with 42 other airports to provide seamless transfer processes, including "one check-in, one security check, and luggage direct transfer" [4] - The airport has introduced international transfer services with overnight accommodation and ticket discounts for transfer passengers, enhancing the overall travel experience [4] Marketing and Service Upgrades - The airport is upgrading its "Qingyi Fly" marketing service brand, offering integrated benefits related to food, accommodation, transportation, tourism, and shopping [6] - Collaborations with the Shanghai Cooperation Organization's tourism group and Qingdao Beer Group have led to exclusive offers combining discounted flights and accommodations, promoting a unique "aviation + tourism" experience [6]