- Despite renewed pressures on air travel from the COVID-19 resurgence, OMA has continued to trade up on long-term recovery prospects.
- Management's call for traffic normalization in late '22/early '23 seems reasonable and is consistent with my prior expectations. In the meantime, good execution on cost-cutting helps preserve cash.
- The company's new MDP is more favorable than expected, driving double-digit tariff increases for OMA.
- Growing non-aero revenue needs to remain a priority, but opportunities like the Barbados airport concession are also worth pursuing.
- The "easy money" has been reaped in OMA shares, but I still see a long-term return in the high single digits as air travel normalizes.
For further details see:
Grupo Aeroportuario Del Centro Norte Has Performed Well On Recovery Prospects