The financial news landscape is fraught with challenges. U.S. stock markets are reporting losses, trade policy uncertainty from President Trump’s actions is causing market volatility, and global and national economic growth prospects remain pessimistic. In such an environment, businesses must make informed decisions to navigate these turbulent times.
Lessons from OMA’s Success
In my experience at OMA, we’ve employed four key strategies that have helped us not only survive but thrive through complex periods, including the pandemic. Over the past five years, OMA’s stock on the Mexican Stock Exchange (BMV) grew by 150%, transforming us from a local entity into a global player since 2022, now part of Vinci, the world’s leading airport group.
Key Strategies for Growth
- Financial Health: Upon my arrival in 2018, ensuring robust finances was our priority. This involved restructuring operations, controlling expenses, and maintaining healthy debt levels. These measures enabled us to maintain staffing levels despite the historic drop in flights and associated income during the pandemic.
- Revenue Diversification: Relying on a single income source can be risky. For OMA, this meant expanding revenue beyond passenger tariffs (TUA), our primary revenue source in any airport. We strengthened non-aeronautical areas like commercial tenant revenues and cargo services growth, which now account for 25% of total revenue.
- Long-term Business Expansion: Short-term decisions are crucial in some industries but less so in infrastructure. Planning for future needs, such as expanding airport capacity (new passenger terminals, control towers, runways), requires a long-term perspective. Over the past six years, we’ve doubled passenger capacity in cities like Monterrey, Culiacán, and Chihuahua, increasing overall annual users from 18 million to 27 million.
- Effective Stakeholder Communication: Successfully navigating challenging times depends on a strong support network. This involves building reliable local teams capable of decision-making and maintaining effective communication with airlines, municipal, state, and federal authorities involved in airport operations.
As economic variables beyond our control continue to evolve, focusing on controllable aspects of business management is crucial for emerging unscathed from these turbulent times.
