Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB) reported second-quarter 2026 passenger traffic of 7.2 million, up 0.4% from a year earlier, as growth in domestic travel offset a decline in international traffic. The airport operator said adjusted EBITDA rose 6.2% to MXN 2.7 billion, while consolidated net income increased 10.2% to MXN 1.5 billion.
CEO Ricardo Dueñas said available seat capacity declined 0.3% during the quarter. Domestic passenger traffic increased 0.6%, aided by growth at San Luis Potosí Airport on routes to Acapulco and Cancún. Those routes added more than 23,000 passengers and represented 61% of the company’s total domestic passenger growth, he said.
Airline Traffic and Route Additions
Volaris, which represented 25% of OMA’s passenger traffic in the period, increased traffic 7% year over year. Viva, which accounted for 50% of passenger traffic, recorded a 2% decline.
Airlines opened 24 routes across OMA’s airports during the quarter, including 18 domestic and six international routes. Aeroméxico launched service between Monterrey and Paris in April, while Iberia began its first Monterrey operation with service to Madrid in June.
Dueñas said the Paris route carried more than 14,000 passengers during the quarter and was changed from a seasonal service to a permanent, year-round route following its initial performance.
Looking ahead, management said airlines were adjusting capacity in response to higher oil and jet-fuel prices during the first half of the year. Dueñas said OMA expects full-year traffic to range from roughly flat to low-single-digit growth. He also cited announced or developing routes involving WestJet and destinations including Acapulco, Montreal, Chihuahua, Mexico City’s Felipe Ángeles International Airport, Mazatlán and Vancouver.
Revenue Growth and Margin Expansion
Total aeronautical and non-aeronautical revenue rose 5.4% to MXN 3.6 billion in the second quarter. Aeronautical revenue increased 3.9%, primarily because of tariff adjustments that took effect in April. Domestic passenger charges grew with the new tariffs, while international passenger charges declined due to the appreciation of the Mexican peso and lower international traffic, CFO Ruffo Pérez Pliego said.
Non-aeronautical revenue rose 9.8%, including a 6.7% increase in commercial revenue. Parking revenue grew 8.8%, supported by passenger traffic and longer stays, while restaurant revenue increased 11.3% and retail revenue rose 4.2%. VIP lounge revenue grew 15.8%, driven by higher capture rates at Monterrey and the recently opened lounge in Torreón.
Commercial revenue per passenger reached MXN 66.4, while commercial-space occupancy stood at 96% at the end of the quarter, according to Dueñas. Pérez Pliego said commercial revenue per passenger should remain near current levels until new commercial areas at Monterrey become fully operational by the end of 2027, with a pickup expected in 2028.
Diversification activities increased 17.4%, led by OMA Carga, where revenue rose 29%. Management attributed cargo growth to new client operations and additional handling of high-value cargo in Monterrey, along with increased activity at the Chihuahua warehouse. The company is expanding its warehouse capacity and expects to complete the project in the coming months.
Hotel-services revenue increased 6%, supported by higher occupancy at the NH Collection Terminal 2 hotel and higher average daily rates at both hotels. Industrial-services revenue rose 9% to MXN 57 million, reflecting additional leased square meters.
Costs, Investment and Balance Sheet
Airport-services costs and general and administrative expenses rose 3.6%, below revenue growth, supporting adjusted EBITDA margin expansion to 75.2%. Higher payroll, contracted services, and materials and supplies contributed to the increase. Payroll rose 9.5%, while contracted services increased 10.7% amid higher security and cleaning costs tied to contract renewals and minimum-wage increases.
Construction revenue totaled MXN 844 million in the quarter. Total investments, including Master Development Program investments, major maintenance and strategic investments, were MXN 949 million.
Management expects total investments of approximately MXN 3.5 billion to MXN 4 billion for the full year. Pérez Pliego said spending includes carryover projects from the prior Master Development Program that are scheduled for completion in 2026 and 2027.
Cash generated from operating activities was MXN 1.8 billion during the quarter, while investing activities used MXN 776 million and financing activities used MXN 2.1 billion. OMA ended June with MXN 2.6 billion in cash, MXN 14.3 billion in total debt and net debt-to-adjusted EBITDA of 1.1 times.
On July 16, OMA issued MXN 3 billion in long-term notes in Mexico. The company used proceeds to repay MXN 1.7 billion of short-term bank debt and MXN 640 million of notes maturing July 24. Remaining proceeds are intended for committed Master Development Program investments, corporate purposes and working-capital needs.
Tariffs, Sustainability and Growth Initiatives
Management said it expects to reach approximately 93% to 95% compliance with its maximum tariff for the full year after the April adjustment. Pérez Pliego said the company’s goal of reaching 99% compliance could take two to three years after implementation of the Master Development Program, depending on traffic growth, inflation and fuel-price conditions.
Dueñas also said OMA achieved a sustainability target tied to its sustainability-linked bonds, reducing Scope 1 and Scope 2 greenhouse-gas emissions per passenger by 88% by the end of 2025 versus its 2018 baseline. The result exceeded the company’s 58% reduction target.
For longer-term growth, management said it is pursuing an additional hotel in Monterrey, a new hotel in Ciudad Juárez, cargo expansion and potential industrial-park expansion. Dueñas said VINCI’s involvement has provided access to human capital, airport best practices, technology, supplier and airline relationships, construction expertise and commercial-planning capabilities.
About Grupo Aeroportuario del Centro Norte (NASDAQ:OMAB)
Grupo Aeroportuario del Centro Norte, SAB. de C.V. (OMAB) is a Mexican airport operator that develops, manages and operates airports under long‐term concessions granted by the Federal Government of Mexico. The company’s core business covers all aspects of airport operations, including passenger processing, airfield services, security, ground handling, cargo handling and commercial activities such as retail, food and beverage, and parking.
OMA currently holds concession contracts for 13 airports in central and northern Mexico, serving key markets such as Monterrey, Ciudad Juárez, Culiacán, Hermosillo and Torreón.
