As of January 1st, 2019 Mexico increases the Airport Use Tariff

The Airport Use Tariff in Mexico is the highest in Latin America

As of January 1, 2019, tourists who buy domestic and international flights will pay more for the Airport Use Tariff (TUA) in Mexico.

Until December 31, 2018, the national TUA was 23.20 dollars and the international one was 44.07 dollars. But as published in the Official Gazette of the Federationthe new rate increased 2.4%, so for domestic flights is 23.79 dollars (481.74 Mexican pesos), 11.72 pesos more than in 2018.

For international flights, the TUA is 45.18 dollars (927.09 pesos), 34.25 pesos more than the one valid until the last day of 2018.

The new Airport Use Tariff will be valid until December 31, 2019, since it is updated every year based on the Consumer Price Index of the US Federal Reserve, and is modified at the disposal of the Ministry of Finance.

In Bogotá, Colombia is paid $ 38, in Sao Paulo, Brazil, $ 35.59, and in Lima, Peru, $ 30.75. The TUA of Mexico is only surpassed by that charged at the airports of Heathrow in London and the O’Hare in Chicago, USA. In social networks, there are negative comments about the new TUA.

In January 2018 the TUA was increased for the second time to help guarantee the construction of the new airport in Texcoco, so since 2014, the tax increased considerably.

Because the new president of Mexico, Andrés Manuel López Obrador promised to cancel the construction of the new airport, he must buy back the bonds through which the previous federal administration obtained financing of USD 6,000 million and modify the so-called consent conditions.

The new Airport Use Fee will be valid until December 31, 2019 (Photo: Twitter AICM_mx)

The new Airport Use Fee will be valid until December 31, 2019 

On December 12, the government of López Obrador, through the Ministry of Finance, launched a repurchase offer at a fixed price of 1,000 dollars for every 1,000 bonds, plus interest accrued and not paid.

Hacienda improved for investors the conditions of the request for consent by including, for example, an “event of default” if the revenues for the collection of the TUA (Airport Use Fee) decrease due to the start of operations of an alternate airport. current (AICM).

This is because the administration of Enrique Peña Nieto compromised the TUA’s income to pay the bondholders their investment in the foreseen terms. The TUA is the only guarantee of money flow for the payment of the bonds.

Despite these changes in the offer to buy back bonds, the head of the Secretariat of Communications and Transportation (SCT), Javier Jiménez Espriú, ruled out that the cancellation of the airport in Texcoco would be more expensive compared to the continuation of the project.

He stated that these modifications do not mean more advantageous conditions for investors. “They finally lent me a peso, and I’m giving them back a peso,” he said.

Source: Infobae

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