Bloomberg News

Asur Falls on Concern Hurricane to Curb Traffic in Cancun

October 26, 2011

(Updates share price in second paragraph.)

Oct. 26 (Bloomberg) -- Grupo Aeroportuario del Sureste SAB, the Mexican airport operator known as Asur, dropped the most in seven weeks on concern that a hurricane headed toward the Yucatan peninsula will curb airline traffic.

Asur fell 2.4 percent to 74.53 pesos at the close of trading in Mexico City, its biggest one-day drop since Sept. 5, after the government warned that Hurricane Rina may make landfall tomorrow near the beach resort of Cancun.

“These worries about the upcoming hurricane are only an opportunity for some investors to take profits from the strong rally that we have seen over the last couple of weeks,” Rogelio Urrutia, a Mexico City-based analyst at Banco Santander Serfin, said in a phone interview. “We are in the middle of the hurricane season and the Cancun Airport is always exposed to these risks.”

Rina is a Category 1 hurricane with maximum sustained winds of 85 miles (137 kilometers) per hour, according to the U.S. National Hurricane Center.

--Editors: Brendan Walsh, Richard Richtmyer

To contact the reporter on this story: Ksenia Galouchko in New York at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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