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Revenue from Contracts with Customers: | 12 Months Ended
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Dec. 31, 2023
Revenue from Contracts with Customers: |
Revenue from Contracts with Customers: | Note 3 - Revenue from Contracts with Customers: 3.1) Revenue recognition Airports operated by the Company receive income from external clients for aeronautical services rendered to airlines and from rendering complementary services. The Company also recognizes income from construction services arising from concession agreements with government entities. Following is a description of the principal types of service agreements from which the Company receives revenue. 3.1.1) Aeronautical services The Company operates airports in three countries (Mexico, Puerto Rico and Colombia), providing different aeronautical services involving principally the following performance obligations.
| a. | Passenger fee rates (Airport Use Rate – TUA, by its initials in Spanish), which are calculated based on total outgoing passengers (other than diplomats, infants and passengers in transit) making use of air terminals operated by the Company.
| b. | Landing rates, which contemplate landing services, the use of runways, taxiing strips, and bands.
| c. | Platform use fees, based on the time an aircraft remains at a terminal after landing.
| d. | Security services, calculated on the basis of the total number of incoming and outgoing passengers.
| e. | Baggage inspection fee, calculated on the basis of total number of outgoing passengers.
| f. | Use of passenger walkways, which consists of rendering passenger walkways service connecting an aircraft to the terminal after landing.
| g. | Fee for the use of passenger documentation counters; the fee is applied on the basis of the holding of documentation for one-hour periods. After the first hour has elapsed, the fee is charged proportionately for 30-minute increments.
Revenue is measured based on the consideration specified in the tariff regulating system applicable to airports in each country for each performance obligation identified. In Mexico, these are regulated by the Secretariat of Communications and Transport (SCT), in Puerto Rico by the FAA and in Colombia by Aerocivil. In its capacity as operator of the LMM Airport, Aerostar entered into Airport Use Agreements with the main airlines serving LMM Airport, referred to as “Signing Airlines”. The agreements have a term of 15 years, counted as from February 27, 2013, with an option to be terminated in advance by agreement of the parties. If, upon completion of the effective term, no new use agreements have been entered into, each of the Airport Use Agreements in force at that date will continue to be binding until new use agreements are signed. Pursuant to the Airport Use Agreements, Aerostar is entitled to receive the following annual contributions from the airlines serving at LMM Airport:
| ● | For the first year of the contract (i.e. the year ended on December 31, 2013), a contribution of USD 62,000 (approximately Ps.1,268,966) multiplied by the number of effective days elapsed in that year, divided by the number of days of the year.
| ● | For the following five years of the contract a contribution of USD 62,000 per year,
| ● | For the remaining years, the total annual contributions by the previous year, adjusted for inflation based on the non-underlying U.S. Consumer Price Index. For the years ended December 31, 2021, 2022 and 2023, the contribution of the airlines was USD 65,907 (Ps.1,336,793), USD 67,030 (Ps.1,305,166) and USD$69,424 (Ps.1,174,583), respectively.
Passenger, landing and security rates are recorded at a particular point in time, once the aircraft departure manifest has been delivered. Revenue arising from other performance obligations is recorded over time as the services are rendered. Discounts The Company may apply discounts to its rates, provided they are not discriminatory in the light of the laws in effect in the countries in which the Company operates. Discounts are granted based on the discount policy and conditions negotiated with the National Autotransportation Chamber (CANAERO), and regulated revenue must be delivered within a period of 30 days. Revenues are recorded net of estimated discounts based on applicable rates. The prompt-payment discount for regulated income principally TUA is established in each of the contracts signed with the airlines, and is subtracted from the aforementioned income. In 2021, 2022 and 2023, the discount amounted to Ps.88,787, Ps.118,480 and Ps.200,695, respectively. Terms of payment The airport service contracts stipulate a payment term of 30 days; in the case of fees charged to providers of services, complementary services, payments must be made on the first day of each month. Amendments to the Tariff Regulation Bases On October 4, 2023, ASUR received a notification from the AFAC, a decentralized body of the Ministry of Infrastructure, Communications and Transportation (SICT), informing of its decision to modify with immediate effect the terms of the tariff base regulation established in the Exhibit 7 of the concession contracts entered into with the SICT dated June 29, 1998, as amended on March 19, 1999. Section 10.8 of the concession contracts establishes that any of the terms of the concession may be modified by mutual agreement between the SICT and ASUR in accordance with the applicable law. Following negotiations between the Company and the SICT, the SICT decided to unilaterally modify the terms of the Amended Tariff Regulations. On October 18, 2023, the Mexican Congress approved the initiative to increase the Airport Use Right of each of the airports in the ASUR concession from 5% to 9%. The increase took effect from January 1, 2024. On December 11, 2023, the Federal Civil Aviation Agency (AFAC), based on the periodic review of the maximum joint rate on the new bases, determined the maximum joint rate of the Mexican Airports for the period from January 1, 2024 through December 31, 2028, the rates applicable to 2024 are shown below: ​
​ | ​ | ​
Airport |  | Tariff
Cancun |  | 332.41
Cozumel |  | 426.36
Huatulco |  | 456.71
Merida |  | 283.23
Minatitlan |  | 502.34
Oaxaca |  | 335.13
Tapachula |  | 276.61
Veracruz |  | 266.28
Villahermosa |  | 299.29
​ 3.1.2) Non-aeronautical services The Company generates revenue from non-aeronautical services, which involve basically the following performance obligations:
| a. | Retail sales, recorded when a product is sold to a client and payment on the transaction is made at the time of purchase.
| b. | Access rates to nonpermanent overland transportation based on the number of access events experienced by the transportation companies operated by third parties providing passenger transportation services at the terminal.
| c. | Car parking, rates based on the time vehicles remain at public parking areas.
Revenue arising from access rates to overland transportation and retail sales are recorded at a particular point in time, to the extent that the performance obligation is satisfied and the promised goods and services are transferred, while parking area income is recorded over time. Contracts for commercial income IFRS 15 “Revenue from Contracts with Customers” must be applied to all contracts with clients. However, there are exceptions, such as contracts for the leasing of commercial space, which fall under IFRS 16 “Leases”. Leasing income (non-regulated activities) are considered complementary services to the supply of regulated services so there is no separate infrastructure other than the intangible recognized under Note 8, nor is a right of use to be accounted for separately in the adoption of IFRS 16. Presently, space leased at airports to airlines and other commercial lessees comprise the most significant source of income related to non-aeronautic services. Leasing income is accrued monthly and is determined by applying a percentage established in the lease contract to income from actual sales of lessees (share of sales), or an agreed minimum fee. Commercial leasing operations include the leasing of automobiles, the sale of food and beverages, retail sales, sales made at kiosks, graphic advertising, overland transportation, fixed operations and other services rendered. Commercial income is partially recorded on the basis of lessee income and is partially based on minimum lease rates. At December 31, 2021, 2022 and 2023, variable leasing income was Ps.3,682,917, Ps.4,637,247 and Ps.6,831,223, respectively, and Ps. 653,070, Ps.1,295,167 and Ps.887,191, respectively, for fixed leasing rates. 3.1.3) Construction services As an operator of airport concessions, the Company is required to improve items under concession. Works carried out within the airport are based on development plans authorized by the regulators. Revenue from construction services are recognized in accordance with the methods prescribed (input method) for measuring progress towards completion approved by the grantor. Improvements made are expected to complement the infrastructure of the airport operated by the Group. IFRS 15 establishes that during the construction period of the infrastructure related to concessions received, they must be shown as “contract assets” in the statement of financial position, regardless of the type of consideration received (financial asset or intangible asset). See Note 8. Construction services carried out by the Group do not entitle it to a direct cash consideration; rather, it is entitled to charge users for airport services rendered at the terminals during the concession period. Revenue from construction services is measured at fair value of the services rendered, which increased the value of the intangible asset, plus the cost of capitalizable financing. For the years ended December 31, 2021, 2022 and 2023, revenues from construction services in Mexico were Ps.2,908,604, Ps.2,268,620 and Ps.873,574 in Aerostar they were Ps.231,301, Ps.411,152, and Ps.414,520, and in Airplan were Ps.6,261, Ps.12,922 and Ps.14,539 respectively. 3.1.4) Airports Law and Regulations Mexico Under the Mexican Airports Law and regulations thereto, company revenue is classified as Airport Services, Complementary Airport Services and Commercial Services. Airport Services mainly consist of the use of runways, taxiways and platforms for landings and departures, parking for aircrafts, use of mechanical boarders, security services, hangars, car parking, as well as the general use of the terminals and other infrastructure by the aircrafts, passengers and cargo, including the rental of space that is essential for the operation of airlines and suppliers of complementary services. Non-regulated Services mainly consist in complementary services consist mainly of ramp services and handling of luggage and cargo, food services, maintenance and repair and related activities that provide support to the airlines. The Rate Regulation Law provides that the following sources of revenues are regulated under this system:
| ● | Revenues from airport services (as defined under the Mexican Airport Law), other than automobile parking, and
| ● | Access fees earned from third parties providing complementary services, other than those related to the establishment of administrative quarters that the SCT determines to be non-essential.
Non-regulated Services consist of services that are not considered essential for an airportʼs operation, such as the rental of spaces to businesses, restaurants and banks. Access fees and revenue from other services are recognized as services are rendered. The following sets forth the Company revenue at December 31, 2021, 2022, and 2023 using the classification established in the Airport Law and the Regulations thereto and on the basis of performance obligations established under IFRS 15. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended of December 31,
​ |  | 2021 |  | 2022 |  | 2023
Regulated services: |  | ​ |  |  | ​ |  |  | ​ |
Airport services for revenue from contracts with clients: |  | ​ |  |  | ​ |  |  | ​ |
Passengers fees |  | Ps. | 6,767,394 |  | Ps. | 10,795,615 |  | Ps. | 11,771,402
Landing fees |  | ​ | 1,075,198 |  | ​ | 1,277,251 |  | ​ | 1,376,707
Platform |  | ​ | 592,671 |  | ​ | 751,464 |  | ​ | 704,446
Seurity services |  | ​ | 88,758 |  | ​ | 134,364 |  | ​ | 152,059
Baggage inspection fees |  | ​ | 251,956 |  | ​ | 353,638 |  | ​ | 400,280
Passengers walkway |  | ​ | 562,192 |  | ​ | 644,356 |  | ​ | 691,920
Passengers documentation counters |  | ​ | 20,187 |  | ​ | 29,841 |  | ​ | 35,298
Other airport services |  | ​ | 336,284 |  | ​ | 499,299 |  | ​ | 538,326
Total regulated services (*) |  | Ps. | 9,694,640 | ​ | Ps. | 14,485,828 | ​ | Ps. | 15,670,438
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non regulated services: |  | ​ |  |  | ​ |  |  | ​ |
Non regulated services for revenue from contracts with customers: |  | ​ |  |  | ​ |  |  | ​ |
Retail stores |  | Ps. | 1,004,332 |  | Ps. | 1,422,651 |  | Ps. | 1,569,319
Access fees on non permanent ground transportation |  | ​ | 59,625 |  | ​ | 82,857 |  | ​ | 96,914
Car parking |  | ​ | 316,356 |  | ​ | 416,767 |  | ​ | 458,039
Other services |  | ​ | 187,273 |  | ​ | 280,671 |  | ​ | 271,690
​ |  | ​ | 1,567,586 |  | ​ | 2,202,946 |  | ​ | 2,395,962
Commercial services |  | ​ | 4,376,269 |  | ​ | 5,932,414 |  | ​ | 6,452,611
Total non regulated services (**) |  | ​ | 5,943,855 |  | ​ | 8,135,360 |  | ​ | 8,848,573
Construction services |  | ​ | 3,146,166 |  | ​ | 2,692,694 |  | ​ | 1,302,633
Total |  | Ps. | 18,784,661 |  | Ps. | 25,313,882 |  | Ps. | 25,821,644
(*) | For 2021, 2022 and 2023, this amount includes Mexico regulated income of Ps.6,492,691, Ps.10,358,492 and Ps.11,694,911, respectively, Aerostar regulated income of Ps.2,027,188, Ps.2,100,275 and Ps.2,029,890, respectively, Airplan regulated income of Ps.1,174,761, Ps.2,027,061 and Ps.1,945,637, respectively.
(**) | This line item in the consolidated statement of income (non-aeronautical services) includes complementary and airport services totaling Ps.286,042, Ps.413,322 and Ps.447,345 for the 2021, 2022 and 2023 periods, respectively.
Puerto Rico According to the agreement entered into by the Puerto Rico Authority and Aerostar, Aerostar income is classified as either regulated services or non-regulated services. See Notes 3.1.1 and 3.1.2. Colombia Under resolution 4530 of the Special Administrative Unit of Civil Aeronautics in Colombia, Airplan revenue is classified as either regulated services or non-regulated services. See Notes 3.1.1 and 3.1.2. The following table sets forth revenue from leasing of commercial spaces by type for the years indicated. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended of December 31,
​ |  | 2021 |  | 2022 |  | 2023
Commercial revenues: |  | ​ |  |  | ​ |  |  | ​ |
Duty free shops |  | Ps. | 1,746,097 |  | Ps. | 2,495,826 |  | Ps. | 2,621,852
Food and beverage |  | ​ | 823,883 |  | ​ | 1,243,576 |  | ​ | 1,419,917
Advertising revenues |  | ​ | 129,589 |  | ​ | 151,741 |  | ​ | 206,942
Car rental companies |  | ​ | 953,085 |  | ​ | 1,110,926 |  | ​ | 1,230,544
Banking and currency exchange servcies |  | ​ | 107,228 |  | ​ | 102,783 |  | ​ | 103,285
Teleservices |  | ​ | 17,539 |  | ​ | 15,538 |  | ​ | 16,099
Ground transportations |  | ​ | 95,690 |  | ​ | 131,653 |  | ​ | 144,674
Other services |  | ​ | 503,158 |  | ​ | 680,371 |  | ​ | 709,298
Total commercial revenues |  | Ps. | 4,376,269 |  | Ps. | 5,932,414 |  | Ps. | 6,452,611
​ The following table sets the domestic and international passenger traffic, in thousands, for the years, 2021, 2022 and 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended of December 31,
​ |  | 2021 |  | 2022 |  | 2023
Domestic passenger traffic: | ​ | ​ | ​ | ​ | ​ | ​
Mexico |  | 15,057 | ​ | 18,701 |  | 21,273
Puerto Rico |  | 9,139 | ​ | 9,404 |  | 10,919
Colombia |  | 8,984 | ​ | 13,718 |  | 11,920
Total domestic passengers |  | 33,180 | ​ | 41,823 |  | 44,112
​ | ​ | ​ | ​ | ​ | ​ | ​
International passenger traffic: |  |  | ​ |  |  |
Mexico |  | 14,081 | ​ | 20,823 |  | 22,195
Puerto Rico |  | 545 | ​ | 907 |  | 1,278
Colombia |  | 1,546 | ​ | 2,788 |  | 2,975
Total international passengers |  | 16,172 | ​ | 24,518 |  | 26,448
Total passengers |  | 49,352 | ​ | 66,341 |  | 70,560
​ The increase in revenue in 2023 and 2022 is shown below by country of operations without considering construction services which does not depend directly on passenger traffic: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended of December 31, | ​ | % Change 2023 | ​ | % Change 2023
​ |  | 2021 |  | 2022 |  | 2023 |  | compared to 2021 |  | compared to 2022
Aeronautical revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mexico | ​ | Ps. | 6,206,649 | ​ | Ps. | 9,945,180 | ​ | Ps. | 11,247,569 | ​ | 81.22 | ​ | 13.10
Puerto Rico |  | ​ | 2,027,188 | ​ | ​ | 2,100,276 |  | ​ | 2,029,890 | ​ | 0.13 |  | (3.35)
Colombia |  | ​ | 1,174,762 | ​ | ​ | 2,027,061 |  | ​ | 1,945,637 | ​ | 65.62 |  | (4.02)
Total aeronautical revenue | ​ | Ps. | 9,408,599 | ​ | Ps. | 14,072,517 | ​ | Ps. | 15,223,096 | ​ | 61.80 |  | 8.18
​ |  | ​ |  | ​ | ​ |  |  | ​ |  | ​ |  |  |
Non-aeronautical revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mexico |  | ​ | 4,384,946 | ​ | ​ | 6,297,790 |  | ​ | 6,906,759 | ​ | 57.51 |  | 9.67
Puerto Rico |  | ​ | 1,394,346 | ​ | ​ | 1,598,601 |  | ​ | 1,729,919 | ​ | 24.07 |  | 8.21
Colombia |  | ​ | 450,604 | ​ | ​ | 652,280 |  | ​ | 659,237 | ​ | 46.30 |  | 1.07
Total non-aeronautical revenue | ​ | Ps. | 6,229,896 | ​ | Ps. | 8,548,671 | ​ | Ps. | 9,295,915 | ​ | 49.21 |  | 8.74
Total without construction revenue | ​ | Ps. | 15,638,495 | ​ | Ps. | 22,621,188 | ​ | Ps. | 24,519,011 | ​ | 56.79 |  | 8.39
​ Following is the estimated future income for next year’s arising from non-cancelable operating leases, considering minimum rent commercial leases. For the years that will end December 31:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
​ |  | 2021 |  | 2022 |  | 2023
2022 | ​ | Ps. | 3,684,803 |  | ​ | ​ | ​ | ​ | ​
2023 | ​ | ​ | 3,415,663 |  | Ps. | 4,531,807 | ​ | ​ | ​
2024 | ​ | ​ | 2,962,391 |  | ​ | 4,070,098 | ​ | Ps. | 4,643,338
2025 | ​ | ​ | 2,821,799 |  | ​ | 3,869,058 | ​ | ​ | 4,271,488
2026 | ​ | ​ | 1,944,711 |  | ​ | 3,659,380 | ​ | ​ | 3,841,569
2027 | ​ | ​ | 969,735 | ​ | ​ | 2,879,797 | ​ | ​ | 3,008,983
2028 | ​ | ​ | 443,624 | ​ | ​ | 2,045,977 | ​ | ​ | 2,158,389
2029 to 2032 | ​ | ​ | 386,687 |  | ​ | 475,365 | ​ | ​ | 854,045
Total | ​ | Ps. | 16,629,413 |  | Ps. | 21,531,482 | ​ | Ps. | 18,777,812
​ 3.2.) Other income In 2022, the line of other income is made up of operations from previous years which were in dispute and had favorable resolutions by the authorities in 2022 as follows: ​
​ | ​ | ​ | ​
​ |  | Year ended
​ | ​ | December 31, 2022
Other income: |  | ​ |
Income recovery from the fuel distribution |  | ​ |
fee at the LMM Airport (Note 15 i) |  | Ps | 300,384
Income recovery due to regularization of car rental companies |  | ​ | 45,848
​ |  | Ps | 346,232
​ This other income corresponds in both cases to income for the years 2014-2022. This recovery is non-recurring and from 2023 the part corresponding to the revenue from fees on fuel distribution at the LMM Airport (USD0.02 cents per gallon or fraction of a gallon of avation fuel fispatched at the LMM Airport), will be recorded in the aeronautical revenue line from the subsidiary Aerostar. (See Note 15.i). The recovery of income for regularization of car rental companies come from an operational agreement of car rental operation outside the airport reached by Aerostar and car rental companies that operated outside the airport on public roads and for which a favorable resolution was obtained by the Puerto Rico District Court and a collection check was obtained for the amount of USD2,225 (Ps.45,848). This recovery is non-recurring since 2022, and the corresponding part will be recorded in the non-aeronautical revenue line from the subsidiary Aerostar.

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