MEXICO. Aeropuerto Internacional de la Ciudad de México (AICM) has confirmed termination of its management contract with Inmobiliaria Fumisa (Fumisa) for Mexico City International Airport Terminal 1.
As reported, on 1 January AICM ended Fumisa’s contract for T1 commercial spaces.
In a statement on 5 January, AICM reiterated that the contract, signed on 25 May 1994, was for 20 years from 1 January 1994, and does not allow for an extension.
“According to the amended agreement between Fumisa and AICM agreed on 14 October 2003, after 20 years of the use of federal property, there should be a review of the Internal Rate of Return (IRR),” AICM said.
“For this reason, AICM is asking Inmobiliaria Fumisa, within the 90 days following the termination of the contract, to present the necessary documentation for financial analysis to establish the status of the IRR.”
AICM’s auditors claim that Fumisa has, over the 20 years of the contract, achieved profits well above the 12.82% rate agreed.
In any case, it reiterated that neither the IRR nor the review process constitute conditions that alter the contract .
“AICM is in the process of formalising, along with the tenants of Terminal 1, the leases for the year 2014, given that it is the sole authority allowed to lease these premises and commercial spaces, and any other contract lacks legal validity,” the statement said.
The airport authority advised its tenants “not to be surprised by Fumisa,” assured them that it alone has the full legal right to lease commercial spaces in T1, and guaranteed that services to users and passengers can continue as normal.
