Q How would you qualify GAP’s performance over these 15 years?
A Above all, one of reliable and secure management, for both users and shareholders. We have always kept our promises, and always on time.
Q Obviously, GAP has faced some major challenges during this period. What do you think the greatest of these have been?
A I think it’s safe to say that of the three airport concession groups, GAP is the one that has had to deal with the most extreme circumstances.
Heavy damage to one of our top-grossing airports, Los Cabos, caused by Hurricane Odile in 2014.
Q Despite all this, the Company’s performance has been virtually unshakable. What are its strengths?
A First, a portfolio with unique characteristics: with six of the 10 largest airports in Mexico, well segmented by passenger profile—ethnic traffic, tourism and business—although some, like Guadalajara and Tijuana, combine all three segments. And this capacity to adapt efficiently to multiple markets is a tremendous advantage.
Another factor is our strong ability to develop commercial revenues, some of them directly managed. And no less important is our well-aimed financial strategy, with a low leverage in relation to EBITDA, and investments that turn a profit in very short periods of time.
And a third very important factor is our emphasis on security since the day we took on the concession. GAP has been a pioneer in quality and security programs, and an example of our solid performance is that today we have Safety Management System (SMS) certifications for all our airports. We were also the first airport operator in Mexico certified by ISO standard 9001:2008 from the Spanish Standards and Certification Association (AENOR), and at present have all the most important quality, security and environmental certifications.
Q How is this strength transmitted to passengers? What image does the user have of GAP?
A We are pioneers in the passenger satisfaction program, which we started up three years ago in some of our airports and extended to all of them in 2014. Based on a system of measuring quality every day through electronic tables, we hear their opinions and learn about their preferences, which are transmitted directly to the central system and to GAP’s airport administrators. This serves as a basis to set service goals and design annual training programs for all the employees of the Company and of other proprietors who operate in our airports.
Q What opportunities do you see for the medium and long term?
A Working for transversal connectivity. Right now, airlines typically serve the trunk routes. The incorporation of new types of aircraft will enable GAP’s airports to handle new regional and international flights. We can also continue to grow our non-aeronautical revenues and provide increasingly high service to passengers, for example, opening new VIP lounges in other cities. Another opportunity is to start up new business lines, like hotels and mixed-use buildings within our airports. As airport operators, we have a great deal of experience, and we believe GAP’s growth in Mexico is somewhat limited because we depend on airline capacity and the growth of the country itself. That’s why we’re analyzing viable options elsewhere that offer interesting returns.
Q How do you see GAP in 15 more years?
A As a modern airport operator, with higher levels of comfort, serving double the number of passengers and with a commercial offering that responds to the most varied tastes. I also see us involved in some airports outside of Mexico, and hotel operations well consolidated into various of our airports. In other words, a great Company in full flight.
