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Revenues | 12 Months Ended
--- | ---
Dec. 31, 2020
Revenue [Abstract] |
Revenues |
2 0. | 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 MT, such as car parking services, lease of space to retailers, restaurants and banks, among others. The revenues of the subsidiaries MBJA and PACKAL 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 MT 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 2019, SCT authorized the Company’s maximum rates applicable for the period 2020-2024. In August 2020, the Company presented to the Aeronautical Authority a proposal for adjustment to the Master Development Programs, which was authorized in November 2020, so the investment figures were adjusted and from 2021 new TM will apply for the 2021-2024 period. The maximum rates of the Jamaican Airports, were approved in November 2019 and are applicable from the period 2020-2024. During the periods ended December 31, 2018, 2019 and 2020, compliance with the TM by the Company’s Mexican airports were 100.0%, 100% and 99.1%, respectively. The table below presents a summary for the years ended December 31, 2018, 2019 and 2020, 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 fees charged to third parties for complementary services are classified as airport services.
|  | 2018 |  |  | 2019 |  |  | 2020 |
Regulated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Airport operating services to airlines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Landing |  | Ps. |  | 783,098 |  |  | Ps. |  | 862,759 |  |  | Ps. |  | 536,336 |
Charges for not canceling extended stay reservations |  |  |  | 9,605 |  |  |  |  | 9,065 |  |  |  |  | 6,469 |
Parking on embarking/disembarking platform |  |  |  | 83,326 |  |  |  |  | 87,740 |  |  |  |  | 58,126 |
Parking on extended stay or overnight platform |  |  |  | 72,313 |  |  |  |  | 86,693 |  |  |  |  | 82,517 |
Passenger walkways and shuttle buses |  |  |  | 36,688 |  |  |  |  | 38,745 |  |  |  |  | 19,711 |
Airport security charges |  |  |  | 207,449 |  |  |  |  | 263,436 |  |  |  |  | 193,144 |
Airport real estate services to airlines: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Leasing of hangars to airlines |  |  |  | 30,228 |  |  |  |  | 28,230 |  |  |  |  | 22,793 |
Leasing of shops, warehouses and stockrooms to airlines (operating) |  |  |  | 4,229 |  |  |  |  | 5,962 |  |  |  |  | 4,107 |
Leasing of space and other terminal facilities to airlines within the terminal (operating) |  |  |  | 58,893 |  |  |  |  | 63,545 |  |  |  |  | 42,129 |
Leasing of land and other surfaces to airlines outside the terminal (operating) |  |  |  | 7,734 |  |  |  |  | 12,254 |  |  |  |  | 5,246 |
Leasing of check-in desks and other terminal space |  |  |  | 445 |  |  |  |  | 1,794 |  |  |  |  | 3,829 |
Leasing of desks and other terminal space for ticket sale |  |  |  | 9,063 |  |  |  |  | 7,817 |  |  |  |  | 3,261 |
Airport passenger services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic passenger charges |  |  |  | 3,802,763 |  |  |  |  | 4,151,565 |  |  |  |  | 2,929,963 |
International passenger charges |  |  |  | 3,950,085 |  |  |  |  | 4,437,701 |  |  |  |  | 2,999,583 |
Airport real estate services and rights of access to other operators |  |  |  | 38,330 |  |  |  |  | 44,768 |  |  |  |  | 47,724 |
Complementary services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Catering services |  |  |  | 31,733 |  |  |  |  | 26,110 |  |  |  |  | 12,947 |
Other third-party ramp services rendered to airlines |  |  |  | 68,244 |  |  |  |  | 99,694 |  |  |  |  | 83,717 |
Traffic and/or dispatch |  |  |  | 57,276 |  |  |  |  | 51,769 |  |  |  |  | 29,941 |
Fuel supply or removal |  |  |  | 238,178 |  |  |  |  | 257,774 |  |  |  |  | 135,598 |
Third-party airplane maintenance and repair |  |  |  | 9,474 |  |  |  |  | 10,299 |  |  |  |  | 8,601 |
Total regulated revenues included in the maximum rate |  |  |  | 9,499,154 |  |  |  |  | 10,547,720 |  |  |  |  | 7,225,742 |
Regulated revenues not included in the maximum rate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Car parking charges |  |  |  | 320,448 |  |  |  |  | 368,750 |  |  |  |  | 234,553 |
Recovery of cost over aeronautical services |  |  |  | 153,409 |  |  |  |  | 175,028 |  |  |  |  | 102,048 |
Recovery of cost over non-aeronautical services |  |  |  | 47,480 |  |  |  |  | 60,947 |  |  |  |  | 71,581 |
Total regulated revenues not included in the maximum rate |  |  |  | 521,337 |  |  |  |  | 604,725 |  |  |  |  | 408,182 |
Total regulated revenues |  |  |  | 10,020,491 |  |  |  |  | 11,152,445 |  |  |  |  | 7,633,881 |
|  | 2018 |  |  | 2019 |  |  | 2020 |
Unregulated revenues(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial concessions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail operations |  |  |  | 221,860 |  |  |  |  | 265,249 |  |  |  |  | 171,720 |
Food and beverages |  |  |  | 193,971 |  |  |  |  | 316,310 |  |  |  |  | 197,441 |
Duty free |  |  |  | 423,904 |  |  |  |  | 501,252 |  |  |  |  | 255,468 |
VIP lounges |  |  |  | 39,884 |  |  |  |  | 53,610 |  |  |  |  | 27,218 |
Financial services |  |  |  | 47,618 |  |  |  |  | 49,302 |  |  |  |  | 37,304 |
Communications and networks |  |  |  | 14,479 |  |  |  |  | 16,045 |  |  |  |  | 13,167 |
Car rentals |  |  |  | 270,698 |  |  |  |  | 346,503 |  |  |  |  | 248,755 |
Commercial leasing |  |  |  | 12,338 |  |  |  |  | 11,677 |  |  |  |  | 15,592 |
Advertising |  |  |  | 193,656 |  |  |  |  | 211,856 |  |  |  |  | 99,242 |
Time sharing developers |  |  |  | 196,152 |  |  |  |  | 221,928 |  |  |  |  | 102,428 |
Leasing of space to airlines and other complementary service providers (non-operating) |  |  |  | 126,791 |  |  |  |  | 136,633 |  |  |  |  | 125,606 |
Lease outside the terminal |  |  |  | 58,259 |  |  |  |  | 59,959 |  |  |  |  | 63,762 |
Convenience store |  |  |  | 100,325 |  |  |  |  | 158,262 |  |  |  |  | 98,164 |
VIP Lounges operated directly |  |  |  | 222,736 |  |  |  |  | 273,354 |  |  |  |  | 144,897 |
Royalties |  |  |  | 6,823 |  |  |  |  | 7,203 |  |  |  |  | 3,889 |
Revenues from sharing of commercial activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retail operations |  |  |  | 123,134 |  |  |  |  | 115,630 |  |  |  |  | 82,060 |
Food and beverages |  |  |  | 142,991 |  |  |  |  | 166,198 |  |  |  |  | 107,317 |
Duty free |  |  |  | 44,407 |  |  |  |  | 26,085 |  |  |  |  | 57,006 |
Financial services |  |  |  | 19,650 |  |  |  |  | 22,267 |  |  |  |  | 13,184 |
Car rentals |  |  |  | 39,556 |  |  |  |  | 32,080 |  |  |  |  | 34,528 |
Access fee for ground transportation |  |  |  | 82,730 |  |  |  |  | 92,833 |  |  |  |  | 56,697 |
Non-airport access fees |  |  |  | 37,067 |  |  |  |  | 36,270 |  |  |  |  | 29,644 |
Other leases |  |  |  | 24,445 |  |  |  |  | 23,285 |  |  |  |  | 9,062 |
Services rendered to ASA |  |  |  | 93 |  |  |  |  | 132 |  |  |  |  | 701 |
Various commercial-related revenues |  |  |  | 18,628 |  |  |  |  | 22,852 |  |  |  |  | 45,062 |
Total unregulated revenues |  |  |  | 2,662,195 |  |  |  |  | 3,166,775 |  |  |  |  | 2,039,914 |
Total aeronautical and non-aeronautical services |  | Ps. |  | 12,682,686 |  |  | Ps. |  | 14,319,220 |  |  | Ps. |  | 9,673,795 |
(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, 2018, 2019 and 2020 accounted for Ps. 1,440,204, Ps. 1,906,801 and Ps. 2,192,578, respectively. The revenues of the Company recognized as of December 31, 2018, 2019 and 2020 transferred at a point in time was Ps. 9,265,776, Ps. 10,306,453 and Ps. 7,060,402, respectively and the revenues for services transferred over time was Ps. 3,416,910, Ps4,012,766 and Ps. 2,613,393, respectively, which originated from the leasing of commercial spaces. The revenues of the Company are measured based on the consideration specified in a contract with a client. The trade account receivable from clients corresponds to the total revenue of the Company of this note. The following table presents information on the nature and timing of satisfaction of performance obligations in contracts with customers, including significant payment terms, and the corresponding revenue recognition policy. Advanced payments from clients represent payments for future services that have not yet been provided and if they are not performed, the Company has the obligation to reimburse their customers for such.
Type Contract | Nature and timing of service | Revenue recognition according IFRS 15
Aeronautical contracts with Airlines | The Company provides the facilities to serve the passengers and the price is determined based on Maximum Rates approved by the SCT and the JCAA in Jamaica and is assigned based on the service category (TUA, operational airport services, and real estate services to airlines and car parking). | Revenue is recognized monthly as the service is provided, based on the movement of passengers and aircraft associated with the type of service.
Complementary services | The Company provides the facilities to the client in order to render service and ground support to the airlines, based on the specific rates according to the aircraft and tariff for cargo volume. | Revenue assigned according to the type of service provided monthly when the service is performed over time.
Commercial concessions | The Company provides spaces within its terminal buildings that consist of the rental of the space in the airport terminals (different from the spaces occupied by the airlines that are essential for its operation), income from car parking, access fees to third parties that provide catering services and other services at airports, other miscellaneous income and royalties for the use of trademarks of the Company. | Revenues are recognized through operating lease agreements, and either with monthly fixed rent or a percentage of the lessee´s monthly revenues, whichever is higher. Rental income from the Company´s leases is recognized using a straight-line basis over the term of the relevant lease.

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