Canceling New Mexico City Airport Would Cost $6.6B: Company CEO

March 27, 2018
Federico Patino, the CEO of GACM, the firm overseeing the project, said with the project coming close to its halfway point by year’s end, the cancellation cost would be about 120 billion pesos, or $6.6 billion USD.

MEXICO CITY (Reuters) - Cancelling the new Mexico City airport would cost about half its $13 billion budget, the head of the company in charge of the project said on Monday following threats by the presidential election front-runner to scrap it.

Federico Patino, the chief executive officer of Grupo Aeroportuario de la Ciudad de México (GACM), the firm overseeing the project, said with the project coming close to its halfway point by year’s end, the cancellation cost would be about 120 billion pesos ($6.6 billion).

“There will surely be lawsuits and damages with penalty clauses ... and if we add this to the unfortunate cancellation of the labor on top of severance costs ... the figure that we have is around 120 billion pesos,” he told a news conference.

Read more: https://www.reuters.com/article/us-mexico-election-airport/cancelling-new-mexico-airport-would-cost-6-6-billion-company-ceo-idUSKBN1H22VQ