MEXICO. Aeropuerto Internacional de la Ciudad de Mexico (AICM) is offering a renewed package of rent relief for concessionaires in Mexico City International Airport Terminal 1.
Traffic in the larger of the airport’s terminals remains significantly affected by the bankruptcy of Mexicana last August (T1 was the hub for what was Mexico’s leading international carrier). Conversely, T2, home to Aeromexico, is booming – good news for anchor retail concessionaire Grupo Wisa.
“We have been through a number of challenges in recent years, including the global economic crisis and the H1N1 virus, but the withdrawal of Mexicana has had the biggest impact,” said AICM Assistant Director of Commercial Services Christian Pastrana.
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Christian Pastrana, AICM’s Assistant Director of Commercial Services, emphasises the importance of partnership between landlord and retailer in difficult times |
Speaking to The Moodie Report in Mexico City, Pastrana revealed that domestic passenger numbers in T1 were still tracking about -14% below comparable 2010 figures, while international numbers were down by about -20%.
While welcoming the improvement from the annual declines of -43% in domestic passengers and -34% in international passengers recorded in October 2010, Pastrana said that other carriers had not been able to take up all of the capacity left by Mexicana, with routes to the US among the worst affected.
“AICM works in partnership with businesses in our airport, so we decided quickly to provide discounts on rentals in Terminal 1 from September 2010 to January 2011,” he noted.
“We have renewed this scheme from April to July this year, with the level of relief still being between 10% and 35% of rents.”
Refunds to concessionaires are expected to total around MXP16 million (US$1.35 million).
Despite the rental relief, some 25 small speciality kiosks and convenience stores withdrew from T1 in the latter part of 2010. Pastrana advised that most of those spaces are in the process of being relet.
“We expect that it will be the end of 2011 before traffic returns to normal in Terminal 1,” he said.
A consequence of Mexicana’s default has been an upsurge in passenger traffic for Aeromexico, which is based in T2, with resulting lifts for commercial operators there.
“Traffic in Terminal 2 has risen by about +30% and we have about 1 million passengers a month there now,” Pastrana revealed.
The division of total passenger numbers had previously been 60/40 in favour of T1, but was now about 50:50 across the two terminals. New store openings by Grupo Wisa have stimulated incremental sales, and the group’s two new arrivals stores will further that trend when they open in July, he said.
Dufry holds the main duty free concession for T1, with Grupo Wisa the anchor tenant in T2.
“The increase in Terminal 2 business has compensated for the decline in commercial revenues for AICM,” Pastrana confirmed.
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Terminal 2 passenger traffic and commercial revenues have surged with the increase in Aeromexico services |
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Busy but not like before: the landside food court in Terminal 1 |
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Opened at a good time: Grupo Wisa’s new airside eyewear and MAC outlets are benefiting from the traffic upsurge in T2 |
