Mexico’s Asur emerges as top bidder for Motiva’s Airport portfolio: report

Grupo Aeroportuario del Sureste ASUR.MX, the Mexican airport operator, has jumped to the front of the field of bidders for Motiva Infraestrutura de Mobilidade's airport portfolio, said a Reuters report citing two sources with direct knowledge of the matter.

The purchase, if concluded, would complement Asur's existing activities beyond Mexico and would be a significant step to promote itself as a more relevant airport player in Latin America.

Brazilian infrastructure player Motiva, formerly CCR, said in May it opened the sale process for its airport units amid a change in strategy that sees it shift the focus back to its highway concessions business.

This is part of a broader restructuring initiative to simplify its portfolio and improve profitability for its core transportation segments.

The competitive bidding process

So far, Asur has outbid Spanish rivals Aena and Argentina's Corporación America Airports (CAAP) for Motiva's network of 17 Brazilian airports, as well as foreign hubs in Quito (Ecuador), San José (Costa Rica), and Curaçao.

According to one of the individuals, Asur's bid valued the assets at about 5 billion reais ($925 million), minus debt.

This value emphasises the expanding attraction of Latin America's aviation infrastructure industry, which has been boosted by improved passenger traffic and increased private investment in transportation assets.

The interest from numerous bidders emphasises the significance of Motiva's airport portfolio, which comprises significant positions in both regional and global markets.

The acquisition would significantly diversify Asur's asset base and provide an opportunity to expand its global footprint.

Asur’s expanding footprint

Asur operates several of Mexico’s biggest airports, including those in Cancún, Mérida, Cozumel and at other top destinations.

The company's latest annual report showed its airports handled around 45 million passengers in 2024, a period when air travel had largely returned from pandemic-era restrictions in Mexico and elsewhere in the region.

Motiva’s airports could substantially crank up Asur’s overall haul and also nestle it further south and central into the continent.

With this extension, the company would also be able to enjoy the continued growth in tourism and demand for regional connectivity.

Though Asur has not made any official comment on the bid, analysts consider the interest a natural progression in the company's long-term growth plan.

Through the acquisition of mature assets in Brazil and elsewhere, Asur would achieve diversification of revenue and lessen its exposure to the risks associated with its current markets.

Motiva’s strategic shift

Motiva sees the sale as a critical milestone in its strategy to refocus on its core highway concessions and mobility infrastructure activities.

The firm operates and maintains a vast network of highways, airports, and passenger transportation systems throughout Brazil and other regions, including subways, trains, light rail, and ferries.

During its third-quarter results call, CEO Miguel Setas stated that the group anticipated announcing the sale of the airport assets by the end of 2025.

The transaction is viewed as a critical step in streamlining Motiva's operations and increasing capital efficiency.

Motiva's airports business performed well in 2025, with adjusted EBITDA up 15% to 912 million reais in the first nine months of the year.

This increase illustrates the durability of air travel demand and the operational improvements made across its network.

Outlook and next steps

The winning bidder should be revealed in the coming months, with Motiva seeking to close the sale before year-end.

If approved, the acquisition would represent one of the biggest cross-border infrastructure purchases in recent Latin American history and would strengthen Asur's position as a regional airport management giant.

With world air travel recovering and investors looking for stable long-term assets, Asur’s prospective takeover of Motiva’s airports may change the aviation infrastructure competitive dynamics in the Americas.