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Latino Daily News

Sunday January 19, 2014

Mexico City Airport Wins Battle Over Leasing Rights

Mexico City Airport Wins Battle Over Leasing Rights

Photo: Mexico City International Airport

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The Mexico City International Airport, or AICM, said it has won a legal battle with real-estate company Fumisa over the right to lease commercial spaces in the international terminal.

It said in a statement that Judge Francisco Lira Carrion ruled that Fumisa’s 20-year lease contract expired on Dec. 31, 2013.

The real-estate development company, a unit of Boston-based private equity firm Advent International, has refused to deliver up those leases, saying it has not earned the 12.82 percent rate of return stipulated in the contract and therefore has the option of extending it for an additional 10 years.

But AICM says the judge overturned an earlier ruling that would have prolonged Fumisa’s right to operate and collect revenue from the terminal’s commercial leases, air bridges and parking.

Fumisa was awarded the lease contract in exchange for building and renewing the airport’s international terminal.

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