Mexican flagship projects require massive federal subsidies

Major flagship projects from the administration of former President Andrés Manuel López Obrador are operating at a loss and require significant federal subsidies to remain functional. According to the 2027 expenditure budget proposal sent by the Secretariat of Finance and Public Credit (SHCP) to the Chamber of Deputies, these military-owned entities require 21,214 million pesos to continue operations.

Over the last five years, these projects have required 233,000 million pesos in subsidies to avoid bankruptcy. The projects include the Tren Maya, the Felipe Ángeles International Airport (AIFA), the airline Mexicana de Aviación, and the Grupo Mundo Maya (GAFSACOMM).

The Tren Maya has been identified as the project requiring the most support. Its construction cost 500,000 million pesos, which was three times the original budget. Between 2024 and 2026, it required 197,000 million pesos in subsidies, and the 2027 budget allocates an additional 18,000 million pesos. Currently, 96% of the Tren Maya's total operating costs are covered by federal subsidies.