Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB): Análisis PESTLE [Actualizado en Ene-2025]

Navegando por el complejo panorama de las operaciones del aeropuerto, Grupo Aeroportuario del Centro Norte (OMAB) se encuentra en la intersección de desafíos dinámicos y oportunidades transformadoras. Desde los bulliciosos terminales del norte de México hasta la intrincada Web of Global Aviation, este análisis estratégico presenta las fuerzas multifacéticas que dan forma al ecosistema comercial de Omab. Profundiza en una exploración integral de mano que revela cómo los factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales convergen para definir el futuro de la infraestructura del aeropuerto y la conectividad regional.

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Omab) - Análisis de mortero: factores políticos

Las políticas de desarrollo de infraestructura de transporte de México impactan la expansión del aeropuerto

El gobierno mexicano asignó 557.7 mil millones de pesos para la infraestructura de transporte en 2023. Para el desarrollo del aeropuerto específicamente, el Programa Nacional de Infraestructura 2021-2024 describió proyectos de expansión clave.

Categoría de inversión de infraestructura	Asignación de presupuesto (mil millones de pesos)
Infraestructura del aeropuerto	89.3
Proyectos de modernización del aeropuerto	42.6

Regulaciones gubernamentales sobre inversión extranjera en operaciones aeroportuarias

Restricciones de inversión extranjera en los sectores del aeropuerto mexicano:

• Propiedad extranjera máxima: 49% en los servicios del aeropuerto
• 100% de propiedad extranjera permitida en ciertas actividades relacionadas con el aeropuerto
• Cumplimiento obligatorio de la ley de inversión extranjera de 1993

Estabilidad política en México que afecta las inversiones en el sector aeropuerto

El índice de estabilidad política de México en 2023 se calificó en 0.32 en una escala de -2.5 a 2.5, lo que indica una previsibilidad política moderada para las inversiones de infraestructura.

Indicador de estabilidad política	Valor 2023
Índice de estabilidad política del Banco Mundial	0.32
Inversión extranjera directa en el sector aeropuerto	1.200 millones de dólares

Cambios potenciales en la política de aviación bajo la administración actual

La actual administración mexicana propuso varias modificaciones de políticas de aviación en 2023:

• Aerogir procesos de concesión del aeropuerto
• Reducción de barreras burocráticas para expansiones del aeropuerto
• Fomentar la participación del sector privado en la infraestructura del aeropuerto

El marco de reforma de la política de aviación incluye posibles enmiendas a la ley del aeropuerto, con una línea de tiempo de implementación estimada de 18-24 meses.

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Omab) - Análisis de mortero: factores económicos

Fluctuación de tipos de cambio de peso mexicano Impacto en el desempeño financiero

A partir del cuarto trimestre de 2023, el tipo de cambio del peso mexicano fluctuó entre 16.50 y 17.25 pesos por USD. Los estados financieros de Omab revelan sensibilidad al cambio de divisas en sus flujos de ingresos.

Año	Tipo de cambio promedio	Impacto financiero
2023	17.12 MXN/USD	± 3.2% Variación de ingresos
2024 (proyectado)	16.85 mxn/usd	Impacto de ingresos estimado ± 2.8%

Dependencia del turismo y los ciclos económicos de viajes de negocios

Los datos de tráfico de pasajeros 2023 de Omab demuestran dependencias significativas del ciclo económico:

Categoría de pasajeros	Pasajeros totales	Crecimiento año tras año
Viajes nacionales	14.2 millones	7.5%
Viajes internacionales	6.8 millones	12.3%

Inversión continua de infraestructura en el sector del transporte mexicano

Inversión en infraestructura gubernamental mexicana en sector de transporte para 2024:

• Presupuesto de infraestructura total de transporte: 85.3 mil millones de mxn
• Asignación de infraestructura del aeropuerto: 12.6 mil millones de mxn
• Inversión directa en aeropuertos de Omab: 3.4 mil millones de mxn

Recuperación económica y crecimiento de viajes aéreos nacionales e internacionales

Indicadores económicos de viajes aéreos para las regiones operativas de Omab:

Métrica económica	Valor 2023	2024 proyección
Tasa de crecimiento del PIB	3.2%	3.5%
Crecimiento de pasajeros de viajes aéreos	9.7%	11.2%
Recuperación de viajes de negocios	76.5%	89.3%

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Omab) - Análisis de mortero: factores sociales

Aumento de la movilidad de la clase media y la demanda de viajes aéreos en México

Según el Instituto Nacional de Estadística y Geografía (INEGI), la clase media de México representó el 41.6% de la población en 2022. El tráfico de pasajeros aéreos en México aumentó en un 18.5% en 2022 en comparación con 2021.

Año	Porcentaje de clase media	Pasajeros aéreos domésticos
2020	39.8%	33.2 millones
2021	40.7%	45.1 millones
2022	41.6%	53.5 millones

Cambios demográficos que favorecen el aumento de los viajes regionales y nacionales

La población urbana de México alcanzó el 84.1% en 2022, con 76.3% de las personas de 15 a 64 años que potencialmente contribuyen a la demanda de viajes aéreos. Los patrones de viajes regionales muestran un crecimiento significativo en estados como Nuevo León, Jalisco y el área metropolitana de la Ciudad de México.

Región	Población	Frecuencia de viaje anual
Nuevo León	5.2 millones	2.4 viajes/persona/año
Jalisco	8.3 millones	1.9 viajes/persona/año
Metro de la Ciudad de México	21.9 millones	3.1 viajes/persona/año

Preferencia creciente por servicios de aeropuerto convenientes y eficientes

Las encuestas de satisfacción del cliente indican que el 68.3% de los viajeros aéreos mexicanos priorizan la eficiencia del aeropuerto y los servicios digitales. Los aeropuertos de OMAB registraron una clasificación promedio de satisfacción del pasajero de 8.2/10 en 2022.

Tendencias culturales que apoyan el transporte aéreo comercial y de ocio

Los viajes de negocios en México alcanzaron los $ 12.4 mil millones en 2022, con nómadas digitales y trabajadores remotos que aumentan la conectividad regional. Leisure Travel contribuyó con $ 24.6 mil millones a la economía nacional en el mismo período.

Segmento de viaje	Contribución económica	Índice de crecimiento
Viaje de negocios	$ 12.4 mil millones	15.7%
Viaje de ocio	$ 24.6 mil millones	22.3%

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Omab) - Análisis de mortero: factores tecnológicos

Implementación de tecnologías avanzadas de gestión del aeropuerto

OMAB ha invertido $ 12.3 millones en tecnologías avanzadas de gestión del aeropuerto en sus 13 aeropuertos en México. La compañía desplegó el software de gestión del aeropuerto IBM Maximo en 2023, que cubre el 100% de su infraestructura aeropuerto.

Inversión tecnológica	Cantidad	Cobertura
Software de gestión del aeropuerto	$ 12.3 millones	13 aeropuertos
Actualización de infraestructura digital	$ 8.7 millones	9 aeropuertos

Transformación digital en sistemas de procesamiento y seguridad de pasajeros

OMAB implementó sistemas de procesamiento de pasajeros biométricos con una tasa de precisión del 97.5%. La compañía implementó 42 quioscos de check-in automatizados y 18 puntos de caída de equipaje de autoservicio en su red.

Tecnología de procesamiento digital	Cantidad	Tasa de precisión
Sistemas de procesamiento biométrico	42 unidades	97.5%
Quioscos de autoservicio	42 unidades	99.2% operativo

Inversión en infraestructura aeroportuaria sostenible y eficiente

OMAB asignó $ 15.6 millones para mejoras de infraestructura sostenible en 2023. La inversión incluye sistemas de energía solar e iluminación de eficiencia energética en sus aeropuertos.

Infraestructura sostenible	Inversión	Tasa de implementación
Sistemas de energía solar	$ 9.2 millones	65% de los aeropuertos
Iluminación de eficiencia energética	$ 6.4 millones	85% de las instalaciones

Adopción de tecnologías de aeropuerto sin contacto y automatizadas

OMAB integró 36 puntos de detección de seguridad sin contacto e implementó sistemas de gestión de multitudes con IA con un 94.3% de eficiencia en su red de aeropuertos.

Tecnología sin contacto	Despliegue	Tasa de eficiencia
Detección de seguridad sin contacto	36 puntos	96.7%
Gestión de multitudes de IA	13 aeropuertos	94.3%

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Omab) - Análisis de mortero: factores legales

Cumplimiento de los marcos regulatorios de la aviación mexicana

Ley de aviación civil mexicana (Ley de Avión Civil) gobierna el cumplimiento operativo de Omab. A partir de 2024, la compañía opera bajo los siguientes parámetros reglamentarios:

Cuerpo regulador	Requisitos de cumplimiento específicos	Nivel de cumplimiento
Direcció General de Aeronáutica Civil (DGAC)	Certificación operativa completa	Revisión anual obligatoria
Secretaría de Comunicaciones y Transportes (SCT)	Normas de seguridad de infraestructura	Supervisión regulatoria estricta

Adherencia a los estándares de operación del aeropuerto internacional

OMAB mantiene el cumplimiento de los estándares internacionales a través de:

• Organización Internacional de Aviación Civil (ICAO) Anexo 14 Estándares
• Pautas operativas de la Asociación Internacional de Transporte Aéreo (IATA)

Estándar internacional	Estado de cumplimiento	Última fecha de certificación
Estándares de seguridad de la OCAO	Totalmente cumplido	15 de enero de 2024
IATA Auditoría de seguridad operativa (iosa)	Certificado	3 de marzo de 2024

Desafíos legales potenciales en la expansión y desarrollo del aeropuerto

Los desafíos legales actuales incluyen:

• Requisitos de evaluación de impacto ambiental
• Procedimientos legales de adquisición de tierras
• Permisos de construcción municipales y estatales

Proyecto de expansión	Estatus legal	Línea de tiempo de resolución estimada
Expansión de la terminal del aeropuerto internacional de Monterrey	Pendiente de la autorización ambiental	P3 2024
Actualización de infraestructura del aeropuerto de Chihuahua	Etapa de permiso inicial	P4 2024

Requisitos reglamentarios para protocolos ambientales y de seguridad

Omab se adhiere a estrictas regulaciones ambientales y de seguridad:

Protocolo regulatorio	Mecanismo de cumplimiento	Inversión anual
Reducción de emisiones de carbono	Certificación ISO 14064	$ 2.3 millones
Gestión de la contaminación acústica	Implementación de las pautas de ruido de la OMS	$ 1.7 millones
Manejo de materiales peligrosos	Programa de cumplimiento de OSHA	$ 1.5 millones

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Omab) - Análisis de mortero: factores ambientales

Compromiso de reducir las emisiones de carbono en las operaciones del aeropuerto

OMAB ha implementado una estrategia integral de reducción de emisiones de carbono en sus 13 aeropuertos en México. A partir de 2023, la compañía informó un Reducción del 15,7% en las emisiones de carbono en comparación con su línea de base de 2019.

Aeropuerto	Emisiones anuales de CO2 (toneladas métricas)	Porcentaje de reducción
Aeropuerto Internacional de Monterrey	24,567	17.3%
Aeropuerto Internacional Culiacán	12,345	14.2%
Aeropuerto internacional de Chihuahua	8,976	16.5%

Implementación de prácticas sostenibles de infraestructura del aeropuerto

Omab ha invertido $ 45.2 millones en desarrollo de infraestructura sostenible en su red aeroportuaria entre 2020-2023.

• Certificaciones de construcción verde implementadas en 7 terminales de aeropuerto
• Sistemas de reciclaje de agua instalados en 9 aeropuertos
• Programa de gestión de residuos sostenibles que cubre el 100% de las instalaciones del aeropuerto

Iniciativas de eficiencia energética en las instalaciones del aeropuerto

Medida de eficiencia energética	Inversión ($)	Ahorro de energía (%)
Reemplazo de iluminación LED	3,450,000	32%
Instalación del panel solar	12,600,000	22%
Optimización del sistema HVAC	5,200,000	18%

Adaptación al impacto del cambio climático en la infraestructura del aeropuerto

Omab ha desarrollado un Programa de infraestructura de resiliencia climática de $ 67.3 millones abordar posibles riesgos ambientales en su red aeroportuaria.

• Sistemas de mitigación de inundaciones implementados en 5 aeropuertos costeros
• Modificaciones de la pista resistente al calor en 3 aeropuertos de la región del desierto
• Sistemas de drenaje mejorados en 8 aeropuertos propensos a eventos meteorológicos extremos

Medida de adaptación climática	Aeropuertos afectados	Inversión total ($)
Infraestructura de protección contra inundaciones	5	22,500,000
Resiliencia de calor extremo	3	15,800,000
Actualizaciones del sistema de drenaje	8	28,900,000

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) - PESTLE Analysis: Social factors

Growing middle class in Mexico increases propensity for domestic air travel.

The expansion of Mexico's middle class, coupled with rising disposable income, continues to be a primary structural driver for domestic air travel demand. This demographic shift makes air travel more accessible, moving it from a luxury to a common mode of intercity transport for a larger segment of the population. The overall Mexican aviation market is projected to grow at a rate of 4.5% in 2025, a clear indicator of this sustained domestic strength.

For Grupo Aeroportuario del Centro Norte (OMAB), this trend is crucial, as domestic traffic accounts for the vast majority of its passenger volume. In the first half of 2025, domestic air travel in Mexico carried a solid 30.7 million passengers, representing a 4.5% increase compared to the same period in 2024. This robust domestic growth helps stabilize OMAB's revenue streams against potential volatility in international markets. It's a simple equation: more people with more money means more flights.

Tourism demand is robust, especially in beach destinations like Mazatlán and Los Cabos.

OMAB's exposure to high-yield leisure destinations remains a significant opportunity, but the performance is mixed across its portfolio in 2025. Los Cabos, a key destination, is projected to welcome approximately 4.13 million tourists this year, a 5% increase from the 3.93 million recorded in 2024, setting a new annual record. Hotel occupancy in Los Cabos was strong, averaging 80.7% in March 2025. Mazatlán also showed strength, with summer 2025 hotel occupancy expected to soar between 75% and 80%.

However, the airport traffic data for Mazatlán shows a near-term headwind. Through September 2025, Mazatlán's total passenger traffic was down 7.2% year-to-date compared to the same period in 2024. This highlights that destination-specific market dynamics, such as competition or capacity shifts, can temporarily override the broader positive tourism trend. Los Cabos' domestic tourism, on the other hand, was up 8.5% through the first four months of 2025. The overall picture is strong, but you need to watch the individual airport performance closely.

OMAB Airport (Jan-Sep 2025)	Total Passenger Traffic	Year-over-Year Change (%)	Primary Social/Economic Driver
Monterrey	11,512,910	+17.7%	Business/Industrial Hub, Nearshoring, Labor Migration
Los Cabos	Not Available (Part of OMA Total)	Projected +5.0% in total tourists (2025)	High-End International & Domestic Tourism
Mazatlán	1,311,239	-7.2%	Leisure Tourism (Facing Short-Term Headwinds)
OMA Total	21,208,396	+9.3%	General Domestic & International Demand

Public health concerns still influence passenger screening and terminal operations.

While the acute phase of the pandemic is over, public health remains a permanent operational factor, translating into new regulatory and infrastructure requirements. In April 2025, the Federal Civil Aviation Agency (AFAC) enacted new regulatory measures to align Mexico's aviation sector with international standards, including updates to operational and health standards. These changes reinforce the need for robust health protocols and screening procedures at terminals, which impacts passenger flow and operational expenditure.

The new rules also specifically reinforce health requirements for licensing and permit processes for aeronautical technical staff, including pilots and air traffic controllers, focusing on both physical and mental health conditions. This means OMAB must defintely ensure its operational personnel meet increasingly rigorous medical evaluation standards, adding a layer of complexity to workforce management and staffing. The cost isn't just in a thermometer at the door; it's embedded in the regulatory compliance of your entire workforce.

Labor migration patterns impact regional airport utilization, defintely in Monterrey.

The major economic trend of nearshoring-the relocation of manufacturing and supply chains closer to the US-is directly impacting labor and business travel, most visibly in OMAB's northern hub, Monterrey. This industrial migration drives significant demand for both business and labor-related air travel. Monterrey's airport utilization is a clear beneficiary of this shift.

The airport's passenger traffic surged by an impressive 17.7% in the first nine months of 2025, reaching over 11.5 million passengers. This growth far outpaces the OMAB system average of 9.3% for the same period. This strong performance is directly tied to the social factor of labor migration, as it includes:

• Increased executive and technical staff travel for new factory openings and site visits.
• Higher volume of skilled labor moving to the industrial centers of Nuevo León.
• More frequent international travel connecting Monterrey's industrial base to global supply chains.

The sustained, high-double-digit growth in Monterrey is a direct, quantifiable opportunity from the social and economic forces driving industrial relocation.

Next Step: Operations team: conduct a detailed capacity-vs-traffic analysis for Monterrey airport to identify potential near-term bottlenecks and prioritize capital expenditure projects by the end of Q4 2025.

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) - PESTLE Analysis: Technological factors

Investment in biometric screening and self-service kiosks improves passenger flow efficiency.

You're looking at a huge surge in passenger traffic, and the only way to manage it without building a new terminal every year is through automation. Grupo Aeroportuario del Centro Norte's (OMAB) strategy is to bake technology into the passenger journey to boost efficiency and experience. For the first nine months of 2025, OMAB's total investments, including Master Development Program (MDP) CapEx, major maintenance, and strategic investments, totaled approximately MXN 1,939 million (Ps. 502 million in Q1, MXN 965 million in Q2, and MXN 472 million in Q3). A significant portion of this capital is directed at technology for efficiency and passenger experience improvement, particularly at Monterrey Airport (where 49% of new investments are focused).

The global trend shows that more than half (53%) of airlines are prioritizing biometrics and digital identity in 2025, and OMAB is defintely following that lead. Self-service kiosks are an essential part of this, as the global self-service kiosk market is projected to grow from USD 18.53 billion in 2025, driven by the need to reduce wait times and reallocate labor.

• Automate check-in and bag drop to cut queue times.
• Use biometrics for faster security and boarding.
• Improve passenger throughput without major construction.

Digitalization of non-aeronautical services (parking, retail) is key to revenue growth.

The real money in airports often isn't in the landing fees; it's in the commercial revenue, and digitalization is the accelerator. OMAB's non-aeronautical services, which include parking, retail, restaurants, and VIP lounges, drove substantial growth in 2025. For example, commercial revenues grew by 19.7% in the second quarter of 2025, and 7% in the third quarter of 2025. Commercial revenue per passenger stood at MXN 60 in 3Q 2025. This growth is directly tied to a strategic focus on commercial diversification.

Digital tools, like mobile apps for pre-booking parking, personalized retail offers, and in-lounge digital menus, are the backbone of this diversification. The global airport non-aeronautical revenue market is expected to grow by USD 43.99 billion from 2025-2029, with mobile apps and personalized shopping being key trends. OMAB must continue to invest in these digital platforms to maximize the revenue yield from every passenger visit.

Cybersecurity threats to critical airport infrastructure require constant, heavy investment.

Honesty, a major cyberattack is now a question of 'when,' not 'if,' for critical infrastructure like airports. OMAB's need for robust digital safeguards was highlighted by a cybersecurity incident in 2024. This threat landscape demands constant, heavy investment just to maintain operational continuity.

The financial impact is already visible: OMAB reported that higher IT-related requirements contributed to a 22% increase in Other costs and expenses during the third quarter of 2025 compared to the same period in 2024. This cost increase is a direct reflection of the necessity to upgrade legacy systems and implement stricter monitoring policies, a commercial priority for 9 out of 10 airport leaders globally in 2025. You simply can't afford to skimp on network security when flight operations, baggage systems, and commercial transactions all run on digital rails.

Security Risk Area	2025 Industry Trend / OMAB Context	Actionable Impact
Ransomware & Malware	Top concern for North American carriers, driving IT investment.	Mandates upgrading legacy systems; increases IT operational costs by 22% (3Q 2025 OMAB).
Data Breaches (Biometrics/ID)	High focus on biometrics (53% of airlines) requires robust encryption.	Requires continuous data security compliance and investment in secure, non-centralized data storage.
Supply Chain Attacks	Reliance on external software providers for security is a key 2025 strategy.	Requires stringent vendor risk management and partnership with specialized security firms.

Drone detection and countermeasure systems are becoming a mandatory security upgrade.

The proliferation of Unmanned Aerial Systems (UAS), or drones, represents a top-five security threat for 2025, driven by the potential for espionage, sabotage, and collision with aircraft. This isn't theoretical; unauthorized drone incursions can shut down runways, forcing ground delays and posing a direct danger to manned aircraft.

While OMAB has not disclosed a specific investment figure, the regulatory and market pressure in Mexico is clear. Advanced anti-drone systems were showcased at the FAMEX 2025 Expo in Mexico in April 2025, demonstrating the local availability and relevance of technologies like RF sensors, radar, and camera detection. Given the security mandates and the rising sophistication of drones, you should expect a material capital allocation toward these counter-UAS (C-UAS) systems in the near future, likely integrated into the next Master Development Program (2026-2030) investment proposal.

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) - PESTLE Analysis: Legal factors

The Master Development Program (MDP) dictates capital expenditure and tariff structure.

The core of Grupo Aeroportuario del Centro Norte's (OMAB) legal and financial operating environment is the Master Development Program (MDP), which is essentially a binding contract with the Mexican government that dictates capital expenditure (CapEx) and the maximum tariffs the company can charge. The current program, covering the 2021-2025 period, committed OMAB to a total investment of approximately 11,980 million Mexican Pesos (MXN).

This legally mandated CapEx is non-negotiable once approved, so it's a direct drag on free cash flow but guarantees future asset growth. For the next MDP, covering 2026-2030, OMAB submitted a proposal with a similar investment level in real terms, and a significant portion-around 49%-is earmarked for the Monterrey International Airport expansion alone. This concentration of investment shows the regulatory leverage the government holds over OMAB's strategic priorities.

Here's the quick math on the current MDP's scale:

• Total 2021-2025 MDP Committed Investment: MXN 11,980 million.
• Q3 2025 Total Investments (including MDP, maintenance): MXN 472 million.
• New MDP (2026-2030) Focus: Approximately 49% of investment for Monterrey Airport.

Regulatory Asset Base (RAB) adjustments by the government directly impact future returns.

While the Mexican system doesn't use the term Regulatory Asset Base (RAB) in the same way as some other jurisdictions, the maximum tariff regulation under the MDP serves the same function: controlling the company's return on its regulated assets. The maximum tariff for aeronautical services-OMAB's primary revenue source-is subject to an annual efficiency factor (X-factor) adjustment, which mandates real-term tariff reductions, typically around 0.7% annually for the current period.

This X-factor is a defintely material legal risk, as any change in the formula or the government's interpretation of the asset base during the current 2026-2030 negotiation could significantly alter OMAB's long-term profitability. You can see the direct impact in the regulated revenues, which are subject to the maximum tariffs published under the Reglamento de la Ley de Aeropuertos (Regulation of the Airport Law). For example, OMAB published specific Tarifas Específicas de Arrendamientos (Specific Leasing Tariffs) for its 13 airports, including Monterrey, effective March 1, 2025.

Strict noise and land-use regulations govern expansion projects at urban airports.

OMAB's major expansion projects, particularly at its most profitable and urban airport, Monterrey, face significant legal constraints from local land-use and environmental regulations. The expansion aims to boost Monterrey's capacity to 15.9 million passengers annually by the end of 2025, which increases the legal exposure to noise and environmental complaints.

Mexican law requires compliance with various environmental and land-use statutes, including the Ley General de Bienes Nacionales (General Law of National Assets). Any expansion, like the planned third phase of Terminal A at Monterrey, must obtain permits that certify compliance with noise emission standards. The Federal Civil Aviation Agency (AFAC) has intensified ramp inspections, which include verifying the required Certificados de ruido (Noise Certificates) for all aircraft, putting the legal compliance burden on both the airport operator and the airlines.

Compliance with International Civil Aviation Organization (ICAO) standards is mandatory.

Adherence to International Civil Aviation Organization (ICAO) standards is a non-negotiable legal requirement for OMAB's international operations, which drive significant revenue growth. The regulatory body, the Federal Civil Aviation Agency (AFAC), is responsible for ensuring the State of Mexico complies with ICAO Annex 14 standards for aerodrome certification.

As of April 2025, Mexico was working to resolve 49 outstanding observations from a recent ICAO audit, covering areas like accident investigation and operational safety. The government has made a commitment to certify at least 66 of the country's 80 airports under ICAO Annex 14, with 55 expected to be certified by the end of 2025. OMAB's airports must maintain this certification to operate international routes, making the national compliance status a critical legal risk factor for the company's entire business model.

Legal/Regulatory Area	2025 Status & Key Figures (MXN)	Direct Impact on OMAB
Master Development Program (MDP)	2021-2025 CapEx: MXN 11,980 million. New MDP (2026-2030) submitted.	Mandates fixed CapEx, reducing management flexibility; 49% of new CapEx focused on Monterrey.
Maximum Tariff Regulation (RAB Equivalent)	Aeronautical tariffs subject to annual efficiency factor (approx. 0.7% real-term reduction). Specific leasing tariffs published effective March 1, 2025.	Caps revenue growth on aeronautical services; requires constant cost efficiency to maintain margins.
ICAO Compliance (AFAC Oversight)	Mexico addressing 49 outstanding observations from ICAO audit as of April 2025. 55 airports expected to be ICAO Annex 14 certified by end of 2025.	Failure to meet standards risks international flight restrictions, directly impacting high-yield international traffic.

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) - PESTLE Analysis: Environmental factors

Carbon reduction goals and Scope 1 and 2 emissions reporting are under scrutiny.

Grupo Aeroportuario del Centro Norte (OMAB) has made significant progress in decarbonization, but the market is now focused on the next phase of emissions reduction, particularly Scope 3 (value chain) emissions. The company's 2024 Sustainability Report, published in August 2025, confirmed it is on track for a 66% emissions reduction by 2030 and a Net-Zero goal by 2050, aligning with its parent company VINCI Airports' strategy.

In 2024, the company reported total Scope 1 and 2 emissions of 3,066 tons of CO₂ equivalent (tCO₂e). Here's the quick math: this represents a dramatic 91% reduction from the 2018 baseline of 33,019 tCO₂e. That's a strong operational win. This success is largely due to its clean energy strategy, where 95% of its electricity consumption came from clean sources in 2022, primarily a power purchase agreement for wind energy and on-site solar panel installations.

Still, the focus is shifting. While Scope 1 and 2 are well-managed, OMAB has set an objective to achieve a 20% reduction in Scope 3 emissions by 2030, which are harder to control since they involve airlines and supply chains. All 13 of the group's airports have achieved Level 3 "Optimization" accreditation under the global Airport Carbon Accreditation (ACA) program, which validates its progress.

Metric	2024 Performance (tCO₂e)	2018 Baseline (tCO₂e)	Reduction from Baseline	2025 Intensity Objective
Total Scope 1 & 2 Emissions	3,066	33,019	91%	N/A
GHG Intensity (per passenger)	N/A	1.53 KgCO2e/PAX	N/A	0.65 KgCO2e/PAX
Clean Energy Share of Consumption	~95% (2022 data)	N/A	N/A	N/A

Water management and wastewater treatment are critical issues for coastal airports.

Water stewardship is a growing material risk, especially for OMAB's coastal and water-stressed assets like Acapulco, Mazatlán, and Zihuatanejo. In 2024, the company's total water consumption was 704,593 m³, marking a 6.5% increase over the previous year, which is a trend that needs defintely close attention as passenger traffic grows.

The majority of this water, 579,593 m³, is sourced from groundwater wells, increasing the company's exposure to local water scarcity and regulatory pressure. The environmental strategy is clear on the need for 'Sustainable Management of Water and Wastewater,' which includes investments in water efficiency and technologies for capture, distribution, treatment, recycling, or reuse.

To mitigate this risk, the company must accelerate the implementation of its wastewater treatment and reuse programs. The long-term reliance on groundwater, even with treatment, is a vulnerability in a climate-stressed region.

Increased focus on sustainable aviation fuel (SAF) readiness for future operations.

The transition to Sustainable Aviation Fuel (SAF) readiness is a macro-level opportunity and risk, even if the direct infrastructure investment is primarily a government or fuel supplier responsibility right now. While OMAB has not publicly disclosed its own 2025 SAF infrastructure budget, the Mexican government's 2025-2030 aviation strategy provides a clear roadmap that will directly impact OMAB's operations.

The national plan proposes two major SAF logistics and blending centers in Mexico City and Cancun. Plus, there are planned fuel infrastructure upgrades in key regional areas like Ciudad Juarez, which is one of OMAB's border city airports. This national push means OMAB must prepare its ground infrastructure to handle SAF blends, including storage, piping, and dispensing systems, to avoid operational bottlenecks.

• Prepare fuel storage and distribution systems for SAF blends.
• Engage with the Mexican Ministry of Infrastructure, Communications and Transport (SICT) on regional fuel infrastructure plans.
• Monitor the cost of SAF, which is currently significantly higher than conventional jet fuel.

Climate change risk assessment is required for infrastructure resilience against extreme weather.

The physical risk of climate change, particularly from extreme weather, is a critical factor for OMAB, given its portfolio includes multiple coastal airports like Acapulco and Mazatlán, which are highly vulnerable to tropical cyclones. The financial impact of a single major hurricane on a primary asset can be substantial, disrupting operations and requiring massive capital expenditure for repairs.

The company is addressing this through its investment strategy. For example, the Mazatlán Airport is slated for a major expansion exceeding 1.2 billion pesos between 2026 and 2030. This kind of capital deployment must embed climate-resilient design standards-like higher elevation for critical systems and stronger building envelopes-to protect the asset's long-term value.

Investors need to see a formal, transparent physical climate risk assessment that quantifies the probability and financial impact of a 1-in-100-year storm event on its coastal infrastructure. The current commitment to 'mitigate the environmental impact' is a good start, but translating that into concrete, storm-proof infrastructure investment is the real action item.