The Mexican Grupo Aeroportuario del Sureste, S.A.B. (ASUR), has acquired concessions for managing 20 airports in Brazil, Ecuador and the Caribbean region, for EUR 808 million (USD 937 million). The licenses are being sold by Companhia de Participações em Concessões (“CPC”); a subsidiary of Brazilian infrastructure manager, Motiva Infraestrutura de Mobilidade S.A. (Motiva). This acquisition makes ASUR one of the largest airport network operators in Latin America and the Caribbean.
Almost simultaneously with this development, the Venezuelan government revoked the traffic rights of six international airlines amid growing tensions with the Trump administration.
The deal between ASUR und Motiva represents a steppingstone in ASUR’s expansion strategy in Latin America, adding more than 45 million passengers to the Mexican company’s 71 million reported in 2024, and consolidating ASUR as the leading airport concessionaire between the Rio Grande in the north and Tierra del Fuego in the south of the American continent. Out of the 20 airports, 17 have more than 15 years remaining in their concession life.
The deal includes some major airports
Most of these are regional airports, but Quito in Ecuador, San Juan in Puerto Rico, San José in Costa Rica, and Belo Horizonte in Brazil, are destinations for international scheduled and charter flights, and play an important role not only in passenger transport, but also in freight matters such as flower shipments from Ecuador to Europe.
ASUR expects to fund the transaction with cash in hand and committed debt financing provided by JPMorgan Chase Bank. J.P. Morgan Securities LLC serves as exclusive financial advisor. Brown Lawyers, BMA Advogados, CorralRosales, Deloitte, De Cuba Ormel and Noordhuizen are the legal advisors to ASUR.
Motiva streamlines its portfolio
Seller of the concessions, Motiva Infraestrutura de Mobilidade S.A. (Motiva), is the largest mobility infrastructure company in Brazil, operating in the Toll Road, Railways, and Airport segments. Its railway platform, which manages subways, trains, and VLT, transports 750 million passengers per year. In airports, with 17 units in Brazil and three abroad, it serves roughly 45 million customers annually.
In addition to this commercial decision in the Latin American aviation sector, a political measure also made headlines in the middle of last week: the Venezuelan government’s withdrawal of traffic rights for six airlines: Iberia, TAP Portugal, Gol, Latam Colombia, Avianca, and Turkish Airlines.
Airlines ignore Maduro’s threats
Caracas, in a statement, said the carriers had “joined actions of state terrorism promoted by the United States” by “unilaterally” halting commercial flights. In doing so, they reacted to FAA warnings of a “potentially hazardous situation” when using Venezuelan airspace or landing at one of its airports due to a “worsening security situation and heightened military activity in or around” the country.
In response to this warning, several international airlines stopped flying to the country in recent days, ignoring country ruler, Maduro’s threat that they would permanently lose their traffic rights if they did not immediately resume flights to Venezuela.
Iberia said it wished to restart operations to Venezuela as soon as full safety conditions were met. Avianca announced its intention to reschedule canceled flights to Caracas for 05DEC25.
Portuguese Foreign Affairs Minister, Paulo Rangel called Venezuela’s decision to revoke the airlines’ operating rights “totally disproportionate”. He said the European nation – headquarters of carrier TAP – had tried, through its embassy in Caracas, to persuade Venezuelan authorities to reinstate operating rights.
Air Europa and Plus Ultra had suspended flights but did not have their permits revoked.
