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Grupo Aeroportuario del Sureste SAB de CV Announces Further Details On Its Affiliate Contract To Operate Airport in Puerto Rico


Tuesday, 24 Jul 2012 04:20pm EDT 

Grupo Aeroportuario del Sureste SAB de CV (Asur) announced that in relation to the previous announcement from July 19, 2012 its affiliate Aerostar Airport Holdings (Aerostar) has signed a contract with the Ports Authorities of Puerto Rico (Autoridad de Puertos de Puerto Rico, PRPA) to operate the international airport, namely Luis Munoz Marin in San Juan, Puerto Rico. The contract has a maturity period of 40 years and an initial payment of USD 615 million. In addition, according to the contract, Aerostar will pay to PRPA the amount of USD 2.5 million annually during first five years of the contract’s validity, 5% of annual earnings as of sixth until 30th year of the contract’s validity and 10% of annual earnings after 31st until 40th year of the contract’s validity. The payments are expected to be funded by a debt of Aerostar and capital contributions of ASUR (through its subsidiary Cancun Airport) and Highstar Capital IV. 

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