21.

Revenues

According to the General Law on Airports and its regulations in Mexico, certain of the Company’s revenue are classified as airport, complementary and commercial services. Airport services generally include the use of airport runways, taxiways and parking areas for arriving and departing planes, use of passenger walkways, security services, hangars, and, in general, use of the space inside the terminal and other infrastructure by aircraft, passengers and cargo services. These services include rental of space that is vital for the operation of airlines and complementary service suppliers. Complementary services are ramps and handling services, catering, maintenance and repairs, and traffic and dispatch services. Commercial services include services that are not essential for the operation of an airport; therefore, these revenues are not regulated by TM, such as car parking services, lease of space to retailers, restaurants and banks, among others. The revenues of the subsidiary MBJA have the same classification, therefore consolidated in the area that correspond to the numbers of airports in Mexico.

A price regulation system establishes in Mexico a TM rate for airport services and complementary services for each airport for each year in a five-year period. The maximum rate is the maximum amount of revenues per “workload unit” that may be earned at an airport each year from regulated sources. Under this regulation, a workload unit is equivalent to one passenger (excluding transit passengers) or 100 kilograms (220 pounds) of cargo. As of December 2014, SCT authorized the Company’s maximum rates applicable for the period 2015-2019.

The maximum rates of the Montego Bay Airport, were approved in November 2014 and are applicable from April 1, 2015 to March 31, 2020.

During the periods ended December 31, 2015, 2016 and 2017, the compliance with the TM by the Company’s Mexican airports was 100.0%, 99.9%, and 100.0%, respectively.

The table below presents a summary for the years ended December 31, 2015, 2016 and 2017, of the Company’s revenues (these do not include revenues related to improvements to concession assets under IFRIC 12). Using the Airports Law classification, the information is sent to the SCT to comply with the Company’s reporting obligations with respect to regulated and unregulated revenues, which are classified as either aeronautical or non-aeronautical revenues. For this presentation, access fee are classified as airport services.

	2015			2016			2017
Regulated revenues
Airport operating services to airlines:
Landing	Ps.	284,275		Ps.	518,404		Ps.	681,096
Charges for not canceling extended stay reservations			3,412			3,601			2,207
Parking on embarking/disembarking platform			135,701			66,563			72,158
Parking on extended stay or overnight platform			35,663			45,274			61,722
Passenger walkways and shuttle buses			18,346			31,217			34,795
Airport security charges			113,579			160,986			181,304
Airports services			34,540			—			—
Airport real estate services to airlines:
Leasing of hangars to airlines			7,011			20,257			24,574
Leasing of shops, warehouses and stockrooms to airlines (operating)		3,884			4,045			4,040
Leasing of space and other terminal facilities to airlines within the terminal (operating)		43,559			53,095			56,100
Leasing of land and other surfaces to airlines outside the terminal (operating)		3,154			6,013			5,602
Leasing of check-in desks and other terminal space			4,090			809			575
Leasing of desks and other terminal space for ticket sale.			6,294			5,764			7,866

Airport passenger services:
Domestic passenger charges			2,078,059			2,552,169			3,054,639
International passenger charges			2,404,331			3,210,822			3,696,147
Airport real estate services and rights of access to other operators		28,709			33,192			34,688
Complementary services:
Catering services			16,601			21,286			24,893
Other third-party ramp services rendered to airlines			35,670			42,283			50,775
Traffic and/or dispatch			37,362			55,402			58,954
Fuel supply or removal			117,162			195,458			216,600
Third-party airplane maintenance and repair			7,620			11,280			11,787
Total regulated revenues included in the maximum rate			5,419,022			7,037,920			8,280,522

Regulated revenues not included in the maximum rate:
Car parking charges			251,468			254,108			277,229
Recovery of cost over aeronautical services			115,273			126,513			157,211
Recovery of cost over non-aeronautical services			31,976			35,721			43,034
Total regulated revenues not included in the maximum rate			398,717			416,342			477,474
Total regulated revenues			5,817,739			7,454,262			8,757,996

	2015		2016		2017
Unregulated revenues⁽¹⁾
Commercial concessions:
Retail operations		125,481		186,849		201,683
Food and beverages		118,910		138,664		163,925
Duty free		226,226		312,569		343,847
VIP lounges		21,021		28,418		36,945
Financial services		28,671		36,537		40,586
Communications and networks		10,202		12,528		11,927
Car rentals		138,532		177,807		205,992
Commercial leasing		22,912		22,802		16,579
Advertising		129,244		169,762		168,573
Time sharing developers		139,124		172,660		186,652
Leasing of space to airlines and other complementary service providers (non-operating)		205,891		111,146		123,568
Lease outside the terminal				36,132		47,730
VIP Lounges operated directly		65,045		112,042		154,737
Convenience store		—		93,747		84,436
Royalties		—		532		4,700
Revenues from sharing of commercial activities:
Retail operations		50,432		87,845		113,175
Food and beverages		50,537		81,455		112,350
Duty free		21,391		36,331		53,709
Financial services		721		726		17,386
Car rentals		8,904		20,914		28,790
Access fee for ground transportation		46,145		61,267		75,938
Non-airport access fees		28,696		60,128		73,622
Other leases		—		—		11,706
Services rendered to ASA		3		82		276
Various commercial-related revenues		12,447		16,319		16,599
Total unregulated revenues		1,450,535		1,977,262		2,295,431
Total aeronautical and non-aeronautical services	Ps.	7,268,274	Ps.	9,431,524	Ps.	11,053,427

⁽¹⁾Unregulated revenues are earned based on the terms of the Company’s operating lease agreements. Lease agreements are based on either a monthly rent (which generally increases each year based on the National Consumer Price Index (INPC) in Mexico and based on the CPI or the greater of a monthly minimum guaranteed rent or a percentage of the lessee’s monthly revenues. Monthly rent and minimum guaranteed rent earned on the Company’s operating lease agreements are included under the caption “Commercial concessions” above. Revenues earned in excess of the minimum guaranteed rent are included in the “Revenues from sharing of commercial activities” caption above (Note 33).

Revenues from improvements to concession assets are recognized with respect to the additions and improvements made for the Company, which are committed under the MDP, and is a requirement of fulfillment. Revenues for the years ended as of December 31, 2015, 2016 and 2017 accounted for Ps. 838,635, Ps. 1,676,037 and Ps. 1,312,491, respectively.