Question · Q3 2025
Jose Manuel Rogers inquired about the potential for managed lanes to pay dividends exceeding their underlying free cash flow and sought clarification on how 407 ETR promotions enhance customer segmentation.
Answer
CFO Ernesto López Mozo confirmed that I-66 has potential for relevering in the coming years, though not in the short term, and 407 ETR has significant headroom for this. He mentioned exploring tweaking outside the project level for other express lanes but expects no short-term news. Regarding 407 ETR segmentation, Mr. López Mozo explained that promotions are tailored to incentivize infrequent users to travel more, distinguishing them from users with fixed travel patterns, thereby increasing overall usage and value.