Asur’s total passengers during October registered a 20.6% y/y growth vs 19.0%e, driven by a remaining strong demand, mainly in the international segment, which showed the highest growth of 26.1% y/y, followed by the domestic segment with a 18.1% y/y increase. It is worth noting that total number of passengers of the 9 airports operating in Mexico increased by 24.1% y/y, in line with our 24.0% estimate, being the group with the highest increase in the country.
Neutral implication: This month, the strength of operations in Mexico and Colombia was partially offset by the decline in Puerto Rico. It is worth mentioning that the performance of the international segment continues to drive traffic and reaffirms the expectation of solid growth going forward. Thus, we continue to have a positive outlook for the company given the favorable perspectives for demand and results, which together with its healthy financial position and attractive valuation (9.5x FV/EBITDA vs 10.8x national sector’s average), make us reiterate it as our favorite in the sector.