Grupo Aeroportuario del Centro Norte SAB de CV
SWB:G7A
Grupo Aeroportuario del Centro Norte SAB de CV
In the bustling corridors of the aviation industry, Grupo Aeroportuario del Centro Norte SAB de CV, commonly known as OMA, has carved out a significant presence in Mexico's air transportation landscape. Established through a government initiative to privatize the nation’s airports, OMA was born from the idea of enhancing operational efficiency and quality standards. The company holds concessions to operate 13 airports in key regions throughout the northern and central parts of Mexico, including the strategically important Monterrey International Airport. Much like a maestro orchestrating a symphony, OMA harmonizes the complexities of airport management, focusing on the seamless integration of services from the moment passengers enter the terminal to when they board their flights. This involves managing facilities, ensuring safety and security, and optimizing the flow of air and passenger traffic.
OMA’s revenue streams are multifaceted, akin to a diversified portfolio that minimizes risk while maximizing profitability. The company derives revenues primarily from two segments: aeronautical and non-aeronautical services. Aeronautical revenues are generated from airlines and include landing fees, parking charges, and passenger charges, forming the backbone of the company's financial structure. On the other hand, the non-aeronautical side—covering services such as retail concessions, real estate leases, parking facilities, and advertising spaces—acts as the icing on the cake, capturing the ancillary spending of travelers and businesses alike. By balancing these sources of income, OMA has adeptly positioned itself to capitalize on Mexico's growing demand for air travel, driving sustainable growth and delivering value to its shareholders.
In the bustling corridors of the aviation industry, Grupo Aeroportuario del Centro Norte SAB de CV, commonly known as OMA, has carved out a significant presence in Mexico's air transportation landscape. Established through a government initiative to privatize the nation’s airports, OMA was born from the idea of enhancing operational efficiency and quality standards. The company holds concessions to operate 13 airports in key regions throughout the northern and central parts of Mexico, including the strategically important Monterrey International Airport. Much like a maestro orchestrating a symphony, OMA harmonizes the complexities of airport management, focusing on the seamless integration of services from the moment passengers enter the terminal to when they board their flights. This involves managing facilities, ensuring safety and security, and optimizing the flow of air and passenger traffic.
OMA’s revenue streams are multifaceted, akin to a diversified portfolio that minimizes risk while maximizing profitability. The company derives revenues primarily from two segments: aeronautical and non-aeronautical services. Aeronautical revenues are generated from airlines and include landing fees, parking charges, and passenger charges, forming the backbone of the company's financial structure. On the other hand, the non-aeronautical side—covering services such as retail concessions, real estate leases, parking facilities, and advertising spaces—acts as the icing on the cake, capturing the ancillary spending of travelers and businesses alike. By balancing these sources of income, OMA has adeptly positioned itself to capitalize on Mexico's growing demand for air travel, driving sustainable growth and delivering value to its shareholders.
Traffic Growth: OMA saw total passenger traffic rise 8.5% in 2025 to 28.8 million, with domestic up 8% and international up 12%.
Financial Performance: Full-year adjusted EBITDA reached MXN 10.2 billion with a margin of 74.5%; Q4 adjusted EBITDA grew 5.9% to MXN 2.6 billion and margin was 73.6%.
Revenue Drivers: Aeronautical and non-aeronautical revenues both increased about 12% in 2025; Q4 aeronautical revenue up 5.6%, commercial revenue up 8.4%.
CapEx Plan: Approved a new 5-year, MXN 16 billion master development program focused on capacity, quality, and sustainability, with Monterrey and Culiacán as main investment areas.
Tariff Increase: A 6.9% maximum tariff increase will be implemented from April 2026, expected to reach 93% of the maximum tariff by year-end.
Cost Pressures: Service and maintenance costs rose due to inflation and contract renewals, with major maintenance provision increasing to MXN 216 million in Q4 and expected to be MXN 400 million in 2026.
Commercial Strength: Restaurants, VIP lounges, and parking revenues grew strongly; diversification businesses, especially OMA Carga and the industrial park, also performed well.
2026 Outlook: Management expects low to mid-single-digit passenger growth in 2026 and sees no major traffic impact from recent regional events.
