Jose Itzamna Espitia Hernandez

Banorte

Senior Equity Research Analyst, Infrastructure, Materials and Transportation @ Banorte

José has more than 10 years of sell-side experience in Grupo Financiero Banorte. He was ranked as #3 in the Industry Stock Picking category (Industrials), in the Analyst Awards 2018 in Latin America by Thomson Reuters. Nowadays, as a Senior Equity Research Analyst, he is in charge of infrastructure, materials and transportation sectors. Throughout his career he has participated (as an equity analyst) in initial and follow-on public offerings of several companies and Mexican REITs (FIBRAs). He is an active member of the Analysis' Committee of the Mexican Association of Financial Intermediaries (AMIB) and he is professor of the Banorte-UNAM business subject (Financial Markets) at the Faculty of Accounting and Administration at UNAM. José has a degree in Economics and holds a master’s degree in Finance from the Universidad Panamericana.

Jose Itzamna Espitia Hernandez
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Latest from Jose Itzamna Espitia Hernandez

AIRPORTS: Growth in passengers’ moderates

In May, total number of passengers of the 3 airport groups recorded an annual increase of 24.8% (airports operated in Mexico). Total passenger variations of Asur, Gap, and Oma of the LTM were placed at 107.8%, 71.6%, and 73.2% (June 2021 – May 2022),...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 8 June 2022

Grupo Aeroportuario Centro Norte: Flash: The recovery in May passengers slows down

Oma reported that in May, the total number of passengers in the 13 airports it operates showed an annual increase of 28.4%, representing 99.0% of the May 2019 figure, below our ~104.0% expectation. Although domestic passengers increased by 35.6% y/y,...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 7 June 2022

ASUR: Flash: Continues to stand out with the highest growth in the sector

In May, Asur's total passengers showed a 38.6% y/y growth, —including the 9 airports it operates in Mexico, the International Luis Muñoz Marin Airport of San Juan, in Puerto Rico (LMM) and the 6 airports in Colombia (Airplan)—, exceeding pre-pandemic...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 7 June 2022

Grupo Aeroportuario del Pacifico: Flash: Passengers continue to grow, but at a more moderate pace

Gap announced that, total passengers in May showed an increase of 23.2% y/y, considering the 14 airports it operates, representing 115.3% of May 2019 traffic figures, due to favorable demand performance. Thus, domestic passengers increased 19.3% y/y,...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 6 June 2022

Volaris: Flash: Strong demand and increased capacity boost passengers in May

Volaris recorded an annual increase of 17.5% y/y in total passenger traffic during May, transporting a total of 2.5 million, with a rose in domestic passengers of 21.5% y/y, while the advance in international passengers was 1.9% y/y. Meanwhile, deman...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 2 June 2022

ASUR: Flash: Continues with the greatest advance in the sector

Likewise, domestic passengers presented a year-over-year growth of 45.0% and international passengers of 97.1%. In turn, the traffic of the 9 airports operating in Mexico grew 56.8% y/y, representing 112.7% of April 2019 passengers, in line with our ...
Banorte Jose Itzamna
Jose Itzamna Espitia Hernandez @ Banorte 10 May 2022

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Jose Itzamna Espitia Hernandez
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