Equity Analysis /

Grupo Aeroportuario Centro Norte: Flash: Slower recovery pace due to weak international traffic

  • In June, Oma reported a passengers increase of 22.2% y/y, slightly below our 26.0% estimate

  • Domestic passengers grew by 26.2% annually, while international passengers decreased again by 2.5% y/y

  • Nevertheless, we reiterate our favorable 2H22 outlook driven by solid demand and attractive valuation FV/EBITDA of 10.7x

Jose Itzamna Espitia Hernandez
Jose Itzamna Espitia Hernandez

Senior Equity Research Analyst, Infrastructure, Materials and Transportation

Marissa Garza Ostos
Marissa Garza Ostos

Head of Equity Research

6 July 2022
Published byBanorte


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