Mexico to Keep Majority Control of Airports

The Mexican government said it will remain the majority shareholder under plans to privatize the nation’s 35 largest airports. Transport Undersecretary Aaron Dychter Poltolarek said the airports are being split into four ownership groups representing Mexico City’s airport, a Pacific region that includes Guadalajara, a north-central region anchored by Monterrey, and the tourist resorts of Cancun and Cozumel. Regional companies will be formed to manage each of the airport groups for 50 years, and “strategic partners”--either domestic or foreign firms with skills in running airports--will be invited to bid later this year for up to 15% of each regional airport company. In a departure from previous Mexican privatizations, however, the airport companies will be listed on the Mexican stock exchange and shares will be sold to the public. Foreign companies’ ownership will be limited to 49%.