MEXICO CITY , Dec. 29 /PRNewswire-FirstCall/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR) (ASUR), today announced that the Secretary of Communications and Transportation (SCT) is extending its deadline for approval of the Company's Master Development Plans for another 90 days. Tariffs will remain unchanged until the Master Development Plans are approved.
Under the terms of ASUR's concession agreements, every five years, each of the Company's subsidiary concession holders is required to submit an updated master development plan for approval by the SCT. Each master development plan covers a fifteen-year period and includes investment commitments for the regulated part of the concession holder's business (including certain capital expenditures and improvements) for the first five-year period and investment projections for the remaining ten years. Once approved by the SCT, the five-year investment commitments become binding obligations under the terms of ASUR's concessions. Committed investments are minimum requirements, and therefore in any period, capital expenditures may exceed the investment commitments stated in the plans. In December 2003 , the Ministry of Communications and Transportation approved each of ASUR's current updated master development plans. These plans are in effect from January 1, 2004 to December 31, 2008 .
Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a Mexican airport operator with concessions to operate, maintain and develop the airports of Cancun , Merida , Cozumel , Villahermosa, Oaxaca , Veracruz , Huatulco , Tapachula and Minatitlan in the southeast of Mexico . The Company is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares.
SOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.